Filing taxes can be a complicated process, especially for entities that fall outside the common categories of individual taxpayers. One such form that caters to these unique entities is the ITR-5 form ...

Section 139(8A) now permits filing of ITR-U within 48 months from the end of the assessment year. However, it cannot be used to reduce tax liability, claim refunds, or bypass departmental ...

New income tax rules for 2026-27 propose redesigned ITR forms with more pre-filled details, aiming for simplification.

Missed filing your ITR ? The deadline may be over, but the law still gives you a chance to come clean with extra cost. Today's Ask Wallet Wise query decodes how to file the missed return for FY25 The ...

Filing your Income Tax Return (ITR) on time is important, but rushing at the last minute often leads to mistakes. If you filed your ITR in a hurry for Assessment Year (AY) 2025–26 and later realized ...

However, from April 1, 2026, transactional forms such as tax deducted at source statements, remittances, Form 60, and Form 15G/15H would operate under the new simplified framework.

Tax authorities initiated scrutiny and proposed addition solely because share acquisition details were not properly disclosed in the ITR. The case reinforces that for directors, the ITR functions as a ...

India’s income tax system will undergo a major overhaul from April 1, 2026, according to various reports. The Income Tax ...

The time of ITR filing is crucial for every taxpayer. People fill out their income, investment, and tax details online. This ...

Budget 2026 brings major relief to taxpayers by allowing revised and updated ITR filing, reduced penalties, and immunity from prosecution, easing stress for those facing income tax notices.