Tax audit deadline September 30: avoid common errors
Taxpayers subject to tax audit for assessment year 2026-27 must file their audit report by September 30, 2026, using Form 3CA-3CD or 3CB-3CD under the Income Tax Act. The deadline applies to…
All posts tagged in AIS
6Articles
Large UPI or NEFT not automatic tax trigger, but mismatches matter
Using UPI, NEFT, RTGS or IMPS for large payments does not automatically trigger an income tax notice, but unexplained transactions can attract scrutiny, the Income Tax Department's compliance framework focuses on mismatches…
How faceless tax assessment works and how to respond
India's faceless assessment regime under Section 144B of the Income-tax Act replaces manual officer-led scrutiny with a technology-driven, centralised process handled by the National Faceless Assessment Centre (NaFAC). Taxpayers receive notices electronically,…
Income Tax Refund Delays: Key Causes Include e-Verification, Mismatches
Income tax refunds are often delayed due to specific issues, NDTV reports. Pending e-verification, mismatches between the Annual Information Statement (AIS) and Form 26AS, incorrect bank account details, and additional scrutiny are…
CBDT adds foreign asset disclosure to AIS for ITR filers
The Central Board of Direct Taxes has enabled taxpayers to view foreign asset information in the Annual Information Statement on the income-tax e-Filing portal. The data, received from over 100 jurisdictions under…
UPI Payments Alone Do Not Trigger Income Tax Notices
Digital payments through UPI, NEFT, RTGS or IMPS do not automatically lead to an income tax notice. The Economic Times reports that scrutiny usually begins when transaction records do not match income…
