The Income Tax Department issued Common Offline Utility for filing Income-tax Returns (ITR 1 and ITR 4) for the AY 2025-26 updated on June 11, 2025. Common Offline Utility (ITR 1 and ITR 4) Common Offline Utility for filing Income-tax Returns ITR 1 and ITR 4 for the AY 2025-26. Date of release of latest … Read more
You can now file missed Income Tax Returns (ITRs) for up to four years after the relevant assessment year ends! The Union Budget 2025 has extended the deadline for filing an Updated Income Tax Return (ITR-U) from two years to four years. This is a huge relief for taxpayers who need to correct past filings. … Read more
The Income Tax Department in India is cracking down on big spenders who might be underreporting their income. They’re doing this by keeping a close eye on high-value financial transactions, and they’ve roped in banks, post offices, and even fintech companies to help. These institutions now have to report certain activities to ensure everyone pays … Read more
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
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
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
India’s Income Tax Department Cracks Down on Fake Deductions: 200% Penalty and Prosecution Await! The Indian Income Tax Department is no longer playing around when it comes to fraudulent tax deductions. A recent investigation uncovered over 90,000 salaried individuals who falsely claimed deductions, costing the national treasury a staggering ₹1,070 crore. Now, the department has … Read more
Filing ITR for AY2025–26? 7 new details you must provide in ITR-1, ITR-4 under Old Tax Regime Currently, individuals eligible to file ITR-1 (Sahaj) and ITR-4 (Sugam) can begin preparing and submitting their returns using these utilities. However, the facility for direct online filing of ITRs has not yet been activated. The due date to … Read more