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CBDT issued notification no. 72/2026 dated 25.06.2026 to hereby approves deductions under section 45(3)(a)(i) of the Income-tax Act, 2025 to the Public Health Foundation of India, Delhi for Scientific Research under the category of University, college or other institution.
CBDT issued notification no. 71/2026 dated 25.06.2026 to hereby approves deductions to the University of Hyderabad for Scientific Research under the category of university, college or other institution.
Several important financial changes are set to take effect on July 1, 2026. These changes could impact taxpayers, bank customers, credit card users, passport applicants and Aadhaar card holders.
A Kanpur man is making headlines after he received relief from the Income Tax Appellate Tribunal (ITAT) in a case involving a Rs 1.95 crore trading loss incurred through his wife’s account.
When Mr. Yadav from Kanpur filed his income tax return (ITR) for FY 2018-19, he combined his wife’s stock market and F&O trading losses with his own income under clubbing provisions (Section 64(1)(iv)) and claimed a set-off, thereby reducing his total tax liability.
Taxpayers who have accidentally deposited tax deducted at source (TDS) challans under the wrong financial year during transition to the new Income-tax Act, 2025 will have to rely on the old TRACES portal to correct the mistake.
Latest version of Utility of Form ITR-3 is released on 18.06.2026.
As the ITR filing season for AY2026-27 gathers pace, salaried taxpayers need one of the most important documents to file their tax returns: Form 16.
The Income Tax (I-T) Department has introduced Form 168, a new version of the Annual Information Statement (AIS) form, under the Income-tax Rules, 2026.
Taxpayers are advised to initiate the filing process well in advance by compiling the necessary financial …
