In 2025, the Income Tax Department introduced new rules that require a detailed review of certain Income Tax Returns (ITRs), potentially delaying refunds for some taxpayers. While a significant number of ITRs have been filed and verified, about 1.2 crore returns are still pending. Mandatory Scrutiny and New Rules Under the new regulations, a full … Read more
Don’t Have Taxable Income? You May Still Need to File an ITR! Many people believe that filing an Income Tax Return (ITR) is only necessary when you have taxable income. However, that’s not always the case. The government has made it mandatory to file an ITR even if your income is below the basic exemption … Read more
What’s Changed in Perquisite Taxation? The Central Board of Direct Taxes (CBDT) has made a significant update to the Income Tax Rules 1962 to clear up confusion about how certain employee perks, or “perquisites,” are taxed. These changes, introduced through the Income Tax (Twenty Second Amendment) Rules, 2025, set new monetary thresholds for calculating taxable … Read more
