The Central Board of Direct Taxes (CBDT) has extended the income-tax return (ITR) filing deadline for Assessment Year 2026-27 from 31 October to 21 November 2026. The deadline for furnishing the tax…
The Central Board of Direct Taxes (CBDT) has extended the deadline for filing income tax returns for the assessment year 2026-27 for certain taxpayers. The new ITR deadline is November 21, 2026,…
The September 30 deadline for filing tax audit reports remains in force with no extension granted, despite demands from tax professionals and industry bodies. Late filers face a penalty under Section 271B…
The Kolkata Income Tax Appellate Tribunal has ruled that inherited jewellery found during a search does not automatically count as unexplained wealth of the person in possession, provided other evidence exists to…
The Central Board of Direct Taxes (CBDT) has introduced a new reporting framework for resident individuals and HUFs buying immovable property from non-residents. The changes, notified on 22 September under the Income-tax…
Taxpayers who have already filed their tax audit report for assessment year (AY) 2026-27 should check for errors before the 30 September deadline, Livemint reports. Common mistakes include incorrect UDIN and digital…
The Income Tax Act 2025 introduces Form 141, a unified challan-cum-statement for reporting tax deducted at source (TDS) on specified transactions. It replaces the earlier Forms 26QB, 26QC, 26QD and 26QE used…
Taxpayers examining eligibility under the Rs 1-crore limit of the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 (FAST-DS 2026) face uncertainty over how to compute undisclosed foreign income. The scheme's rules…
The Central Board of Direct Taxes (CBDT) has introduced a new system for reporting high-value financial transactions where a person does not have a Permanent Account Number (PAN). Under a notification issued…
The Supreme Court on Wednesday agreed to urgently hear the Centre's challenge to a Punjab and Haryana High Court ruling that struck down Section 147A of the Income-Tax Act, a provision allowing…
