Urgent Alert: Protect Yourself from Income Tax Refund Scams The Income Tax Department has issued a strong warning about a new wave of phishing scams targeting taxpayers. Fraudsters are sending fake emails that promise an income tax refund to trick you into giving up your personal and financial information. How the Scam Works Scammers send … Read more
Based on the provided article and my research on the latest tax rules for the financial year 2024-25 (Assessment Year 2025-26), here is a rewritten post about claiming HRA by paying rent to your parents. Claiming HRA by Paying Rent to Your Parents? Do It Right to Avoid an Income Tax Notice Claiming House Rent … Read more
Great news for many taxpayers! The Income Tax Department has just made ITR-3 available for online filing for Assessment Year (AY) 2025-26 (which means for income earned in Financial Year 2024-25). Until now, only the offline utility was available. This update is a game-changer, especially for those who need to file by the September 15 … Read more
The ITR-3 form is now live on the Income Tax Department’s e-filing portal for the Assessment Year (AY) 2025-26. This is great news for individuals and Hindu Undivided Families (HUFs) who earn income from a business or profession, as they can now file their returns completely online. Who Should Use ITR-3? This form is specifically … Read more
It’s tax season, and for the first time, the Income Tax Department has a dedicated category for social media influencers! If you’re a content creator, blogger, online coach, or any digital gig worker, here’s what you need to know about filing your Income Tax Return (ITR) this year. New Profession Code: 16021 Good news – … Read more
Income Tax Department Extends Deadline for Erroneously Invalidated ITRs to March 2026! New Delhi, July 29, 2025 – Good news for taxpayers! The Income Tax Department, through the Central Board of Direct Taxes (CBDT), has extended the deadline for processing Income Tax Returns (ITRs) that were wrongly invalidated due to technical glitches. This significant relief, … Read more
Reporting capital gains accurately in your Income Tax Return (ITR) is more critical than ever, given the Income Tax Department’s intensified monitoring. With advanced data-matching systems, the IT Department is closely scrutinizing disclosures of income from equities, mutual funds, and even buyback transactions. To avoid notices and penalties, diligent documentation and professional guidance are no … Read more
Delhi Post Offices Temporarily Closed for Digital Upgrade Today Many post offices across Delhi are shut today, Monday, July 21, 2025, as the Department of Posts rolls out a major digital upgrade to its computer system, “Application for Post Office Transactions 2.0.” This essential downtime will help the postal network handle services faster and more … Read more
Understanding how capital gains tax applies to your mutual fund investments is crucial, especially when filing your Income Tax Return (ITR) for FY2024-25. Many taxpayers find this area confusing due to the different types of funds and holding periods. Let’s break down what you need to know. Key Changes for FY2024-25 The Union Budget 2024 … Read more
New ITR-2 Form for FY2024-25 (AY2025-26) Unveiled: Key Changes Taxpayers Must Know The Income Tax Department has finally released the Excel-based utilities for ITR forms 2 and 3, after a notable delay attributed to significant revisions in the utility forms for the Financial Year 2024-25. This release, following ITR forms 1 and 4, makes all … Read more