1+ week, 5+ day 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+ week, 4+ day 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…...

1+ mon, 1+ week 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?...

1+ 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,…...

2+ mon, 6+ 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…...

2+ mon, 1+ week ago  (477+ words) Taxpayers who reinvest capital gains from selling assets such as shares into a residential property can claim tax exemption under Section 54 F of the Income Tax Act. But, a common question arises when payments for an under-construction home are made…...

2+ mon, 1+ week ago  (489+ words) Rajya Sabha member Raghav Chadha has proposed allowing an optional joint filing of income tax returns (ITR) for married couples, arguing that the current income tax framework unfairly penalises families where only one spouse earns. Raising the issue in Parliament,…...

2+ mon, 1+ week ago  (998+ words) Income Tax Changes From April 1, 2026: Several key changes in India's direct tax framework will come into effect from April 1, 2026, with the Income-tax Act, 2025, replacing the six-decade-old Income-tax Act, 1961. The new law introduces simplified language and the proposals announced in the…...

2+ mon, 1+ week ago  (542+ words) 1. PAN Rules Overhauled for High-Value Transactions Under the draft rules, PAN will be required for annual cash deposits or withdrawals of Rs 10 lakh or more (aggregate in a financial year). Currently, a per-day limit of Rs 50, 000 is applicable in deposits,…...

2+ mon, 1+ week ago  (626+ words) March 15 is the last date for paying the final instalment of advance tax for the financial year 202526. Taxpayers who are liable to pay advance tax must clear most of their tax dues by today to avoid interest charges under the…...