The income tax return (ITR) filing season for Assessment Year 2025-26 is now open. Every taxpayer, including salaried individuals, must file their returns using one of the seven ITR forms available ...

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

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 ...

New Delhi: Previously, the income tax law had more than 800 sections. In the new system, the number of sections and chapters has been reduced to less than half. This means that understanding taxes ...

Income Tax refund update: The income tax department has been sending alerts via SMS and email to hundreds of taxpayers saying that their income tax refund has been put on hold due to a mismatch in ...

Income-tax Rules: The Income Tax Department has released draft Income-tax Rules, 2026, effective April 1, 2026, simplifying ITR filing forms and procedures. These draft rules, open for public feedback ...

Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations. Filing Income Tax Returns (ITR) may be ...

Income Tax Refund Delay: Only one day is remaining to file a belated and revised income tax return (ITR), and the income tax department has asked hundreds of taxpayers to file revised ITRs due to a ...

Did our AI summary help? With only one day remaining until December 31, a large pile of income tax returns (ITRs) for the current assessment year still remains unprocessed. While some involve refund ...

Taxpayers opting for the old tax regime can continue to claim deductions on donations made to eligible charitable organisations under Section 80G of the Income Tax Act, 1961. To clarify how such ...

The window will allow individuals who failed to declare overseas income up to Rs 1 crore, or those who disclosed income but not assets acquired abroad up to Rs 5 crore, to regularise their filings ...