Income tax returns Forms AY 2026-27
Income tax Return forms and its version for AY 2026-27
Tag: Income Tax Return
Representation regarding timely release of e-filing utilities for Income Tax Returns for AY 2026-27
The Karnataka State Chartered Accountants Association (R) (in short `KSCAA’), established in 1957 and registered under the Karnataka Societies Registration Act, represents a wide body of Chartered Accountants across the country.
Rs 119 crore recovered from wrong HRA tax deduction claims, 25000 filed revised ITRs to declare Rs 1000 crore foreign income; Here’s how Nudge campaign works
The Economic Survey for FY 2025-26 pointed out how data-driven behavioral interventions improved tax collection efficiency in India, resulting in an extra Rs 119 crore collected thanks to targeted nudges about incorrect House Rent Allowance (HRA) claims.
Taxpayer deposits Rs 20 lakh in NRE bank account, skips ITR; income tax dept issues notice but he wins in Gujarat High Court
Mr. Patel, originally from India, has been employed for the past few years at a big consultancy firm’s Uganda (East Africa) branch. However, he faced his worst nightmare when the income tax (I-T) department issued him a notice regarding Rs 20 lakh of “unexplained income” in his Non-Resident External (NRE) bank account.
Excel Utilities for filing updated returns in ITR-5, 6 and ITR-7
Excel Utilities for filing updated returns in ITR-5, 6 and ITR-7 for the AYs 2021-22 and 2022-23 as per Finance Act, 2025 are available now for filing.
Missed ITR deadline or made an error? File a revised return by Dec 31, 2024
Taxpayers who missed the initial deadline have time until December 31, 2024, to file their income tax return (ITR) for FY 2023-24 (AY 2024-25). This date applies to those filing a belated ITR, subject to a penalty of up to Rs 5,000. Additionally, December 31, 2024, is the final date for submitting a revised ITR.
Indian Overseas Bank to receive Rs.1,359-crore income tax refund
State-owned Indian Overseas Bank (IOB) on Tuesday (December 10) said it has received an order confirming a refund of ₹1,359.29 crore for the assessment year 2015-16, including interest under Section 244A.
Claimed 87A tax rebate for STCG in your ITR? You may get tax demand notice
Tax rebate under section 87A of the Income-tax Act, 1961 is a benefit that reduces the total income tax liability of an eligible taxpayer. The eligibility criteria are that the taxpayer’s income should be below a set threshold and not having certain types of income.
Changes on e-filing portal and common issues while filing ITR
Changes on e-filing poral and Common issues while filing ITR
Failure to report foreign income leads to loss of DTAA benefit
Indian law mandates resident individuals who hold specified foreign assets (FAs) during the relevant accounting period to file an income tax return (ITR) They must disclose all their foreign assets and incomes therein. Failure to do so can lead to a heavy penalty or even imprisonment.