The Income Tax Return (ITR) filing deadlines for FY2024-25 (Assessment Year 2025-26) aren’t the same for everyone. Due to significant changes in ITR forms and system readiness, the Income Tax Department has extended some dates. Key ITR Filing Deadlines for FY2024-25 What Happens if You Miss the Deadline? Even if you miss your initial deadline, … Read more
Received an income tax notice after filing your ITR? Don’t panic! While unsettling, it often doesn’t signal major trouble. With tax data now digitized, even minor mismatches between your return and records like Form 26AS or Annual Information Statement (AIS) can trigger an automated notice. These are frequently just requests for information or intimations of … Read more
Annual Information Statement (AIS) before filing your Income Tax Return (ITR) isn’t just a suggestion anymore – it’s a crucial step for a smooth tax season. The Income Tax Department is cracking down, and even small mismatches between your declared income and their records can lead to big headaches. Why the AIS is Your Best … 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
Income Tax Returns (ITR) for Salaried Professionals: Key Dates and Penalties for FY 2024-25 Good news for salaried professionals and individuals not requiring an audit! The deadline for filing Income Tax Returns (ITR) for the Financial Year 2024-25 (Assessment Year 2025-26) has been extended. Revised Due Date: This extension, announced by the Central Board of … Read more
Don’t Let AIS Discrepancies Derail Your ITR: Fix Them Now to Avoid Penalties! Taxpayers, listen up! As you prepare to file your Income Tax Return (ITR) for Assessment Year 2025-26, a crucial step often overlooked is reviewing your Annual Information Statement (AIS). Ignoring errors or mismatches in your AIS can lead to unwelcome income tax … Read more
Foreign Income and Assets from the Indian Income Tax Department? Think Again. For Indian residents, the days of discreetly stashing away global income, foreign assets, and overseas investments are long gone. The Indian Income Tax Department now has a robust system in place to track your financial footprints worldwide, thanks to international agreements like the … Read more
Receiving an income tax notice can be unsettling, but it doesn’t always mean you’ve done something wrong. With tax authorities stepping up scrutiny, it’s more important than ever to understand these notices and how to respond. Ignoring them can lead to penalties, so let’s break down the common types, why you might get one, and … Read more
Found a discrepancy in your Annual Information Statement (AIS)? The Income Tax Department has a straightforward solution to help you fix it before you file your Income Tax Return (ITR) for Assessment Year (AY) 2025-26. Many taxpayers are encountering issues with their AIS, and the good news is, you’re not alone, and there’s a clear … Read more
Correct Your ITR Errors by December 31, 2025, or Face Serious Consequences! Did you spot a mistake in your Income Tax Return (ITR) for Assessment Year (AY) 2025-26? Whether it’s incorrect income, missed deductions, or outdated personal information, time is running out to fix it. The final deadline to file a revised or belated return … Read more