What is Form 26AS? The Tax Form That Can Save You From Notices The tax filing season for 2025 is officially underway, with Income Tax Return (ITR) Excel Utilities for ITR-1 and ITR-4 already available for download. So far, over 1.23 lakh ITRs have been filed. As taxpayers begin the process, it’s crucial to carefully … Read more
MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew Delhi, the 3rd June, 2025S.O. 2479(E).––In pursuance of sub-clause (ii) of clause (a) of sub-section (1) of section 138 of theIncome-tax Act, 1961, the Central Government hereby specifies ‘Secretary to the Government of Maharashtra,Women and Child Development’ for the purposes of the said clause in connection … Read more
Big news for those sticking with the old tax regime this tax season! The Income Tax Department is rolling out some significant changes for Assessment Year 2025-26 (that’s for income earned in Financial Year 2024-25). Get ready for increased scrutiny and enhanced disclosure requirements if you’re claiming deductions. Why the Change? The main goal here … Read more
Properties worth over 7 Crores attached in a Disproportionate Assets case The Special Judge, Anti Corruption, CBI Court no.1, Ghaziabad has issued ad-interim order on 02.06.2025 for attachment of 14 properties of the then Additional Commissioner, Income Tax in a case related to Disproportionate Assets. Central Bureau of Investigation (CBI) had registered a Disproportionate Assets … Read more
For salaried employees across India, Form 16 is a crucial document for filing income tax returns (ITR). Here’s a quick guide on why it’s so important, when you can expect to receive it, and what key details it contains. What is Form 16? Simply put, Form 16 is a TDS (Tax Deducted at Source) certificate … Read more
It’s ITR filing season again! For the financial year 2024-25 (Assessment Year 2025-26), the Income Tax Department has already rolled out Excel Utilities, and people are starting to file. While online filing is still getting ready, if you’re a salaried individual, it’s generally best to wait for your Form 16. With more and more people … Read more
Income Tax Alert: ITR-1 & ITR-4 Excel Utility Out, File Without Internet ITR File: There is big news for millions of taxpayers in India. The Income Tax Department has released the Excel utility for ITR-1 (Sahaj) and ITR-4 (Sugam) forms for the assessment year 2025-26. This means that now salaried, pensioners, freelancers, and small businessmen can … Read more
ITR filing for the financial year 2024-25 (Assessment Year 2025-26) has officially begun, with the Income Tax Department permitting Excel Utility-based returns since May 30th. While online filing is still on the horizon, nearly 55,000 returns have already been filed as of June 2nd, 2025. Who Needs to File an Income Tax Return (ITR)? Whether … Read more
ITR filing alert 2025-26: Excel utilities for ITR-1, ITR-4 now support LTCG, rent receipts, new tax regime The Income Tax Department has released updated Excel utilities for ITR-1 (Sahaj) and ITR-4 (Sugam) for the Assessment Year 2025–26 (Financial Year 2024–25), incorporating critical compliance and disclosure changes aligned with the Finance Act, 2024. These utilities, available … Read more
The Income Tax Department has released the offline Excel-based utilities for filing Income Tax Returns (ITRs) for the Financial Year 2024–25 (which is the Assessment Year 2025–26). You can now download these tools for ITR-1 (Sahaj) and ITR-4 (Sugam) from the official income tax e-filing website. While the direct online filing facility isn’t active yet, … Read more