5+ day, 16+ hour ago   (1346+ words) With the August 31, 2026, deadline for filing income tax returns for non-audit business and professional taxpayers approaching, taxpayers using ITR-3 and ITR-4 should ensure that their income, deductions, tax payments and other details are correctly reported before submitting the return. The…...

1+ week, 3+ day ago   (1513+ words) Filing an income tax return (ITR) does not always mean the tax-related process ends once the return is submitted. In some cases, taxpayers may receive an income tax notice, intimation or communication from the income tax department asking them to…...

2+ week, 3+ day ago   (625+ words) The Lok Sabha has passed the Taxation and Other Laws (Amendment) Bill, 2026, to replace the Income-tax (Amendment) Ordinance, 2026, issued in June this year. The Bill introduces important amendments related to UPI payments, foreign investors, REITs and InvITs, electronics manufacturing, data…...

2+ week, 4+ day ago   (200+ words) The Law Protects Equal Inheritance: The 44th Constitutional Amendment removed the right to property from the list of Fundamental Rights in 1978, but inheritance rights remain protected under law. Under the Hindu Succession Act, sons and daughters have equal rights in their…...

3+ mon, 1+ week ago   (313+ words) ITR Filing 2026: The income tax department has released Excel-based ITR utilities for the financial year 2025-26 (assessment year 2026-27). The excel utilities for ITR-1 and ITR-4 are now available on the income tax portal, allowing eligible taxpayers to begin filing their income…...

3+ mon, 3+ week ago   (249+ words) GST Collection For April 2026: India’s goods and services tax (GST) collections jumped 8.7 per cent year-on-year to hit an all-time high of Rs 2,42,702 crore in April 2026, according to the latest official data released on Friday, May 1. Net GST revenue for the…...

4+ mon, 4+ day ago   (27+ words) The RBI has opened premature redemption window for sovereign gold bonds (SGBs) under the 2020-21 Series-VII tranche today; will tax apply if you exit today?...

4+ mon, 3+ week ago   (500+ words) It is important to note that the Income Tax Act, 2025, came into force from April 1, replacing the 1961 Act. However, despite the shift to the I-T Act, 2025, for FY 26, the ITR this year will still be governed by the Income-tax Act,…...

5+ mon, 4+ day ago   (937+ words) The Income Tax Department has notified the new Income-tax Rules, 2026, marking a significant overhaul of the decades-old tax framework. In a public announcement, Income Tax Department said the updated rules have been officially published in the e-Gazette, making them accessible…...

5+ mon, 6+ day ago   (477+ words) Taxpayers who reinvest capital gains from selling assets such as shares into a residential property can claim tax exemption under Section 54F of the Income Tax Act. But, a common question arises when payments for an under-construction home are made in…...