Income Tax return filing has only 17 days left before the extended deadline ends, and less than half of the total expected returns have been filed for the assessment year (AY) 2025-26. According to ...

If you missed filing your Income Tax Return (ITR) this year, don’t panic just yet. The Income Tax Department still allows taxpayers to file a belated return until December 31, 2025. However, there are ...

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 ...

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 ...

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 ...

Taxpayers would continue to use existing income tax return (ITR) forms to report income for 2025-26 (FY26), even as revamped ...

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.

No interest is payable if the refund amount is less than 10 percent of the tax determined under section 143(1) or pursuant to regular assessment ...