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income tax department

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Income-tax appeals: Govt withdraws nearly 6,000 cases after raising monetary limits; over 17,000 more not filed
Income tax disputes: Appeals below Rs 60 lakh, Rs 2 crore and Rs 5 crore face new rules; over 17,000 cases dropped

The government has raised the tax-effect limits for filing income-tax appeals, leading to thousands of appeals being withdrawn or not…

August 13, 2026 18:02 IST
ESOP buyback payouts cannot be taxed as salary if options were never exercised, rules ITAT
Salary or capital gains? ITAT clarifies tax treatment of ESOP buyback payouts in Flipkart employee’s case

The Bengaluru ITAT has ruled that money received from the buyback of vested but unexercised ESOPs cannot be taxed as…

August 6, 2026 14:24 IST
Filing after the due date applicable to one’s category can result in interest, late filing fees, restrictions on carrying forward certain losses and delays in processing refunds.
ITR due dates 2026: July 31, August 31, October 31 or November 30? Know your filing deadline

A taxpayer may file an updated return of income within 48 months after the end of the relevant assessment year,…

July 31, 2026 18:58 IST
ITR filing deadline Today July 31, 2026 LIVE Updates
Income tax return deadline 2026 Highlights: ITR filing due date is 31st August now for these taxpayers; check latest updates

ITR Income Tax Return Deadline Today Highlights: July 31 was the last date to file Income Tax Return (ITR) for…

Updated: August 1, 2026 17:03 IST
ITR Filing Deadline July 31, 2026 LIVE Updates
ITR Deadline Extension Highlights: July 31 is not the last date for every taxpayer; check latest updates on return filing and refund status

The July 31 ITR filing deadline is fast approaching, but millions of taxpayers are yet to file their returns. Stay…

Updated: July 31, 2026 09:00 IST
Taxpayers who file on the last day often rush through the return, and that is exactly when mistakes happen.
ITR filing deadline: Why are last-day filers more likely to get defective return notices?

A defective return notice doesn’t necessarily mean you’ve evaded taxes; it simply indicates that your return contains missing information, inconsistencies,…

July 27, 2026 14:04 IST
Rajesh held an active German bank account containing €4,701.34 as of December 31, 2024.
From 4,701 euros in overseas savings to a tax notice: How one NRI saved himself from 30% double taxation?

The tax notice centered around three main reporting requirements triggered by Rajesh’s overseas move to Germany.

July 23, 2026 20:13 IST
Reimbursements are generally tax-free where they represent repayment of expenses incurred wholly and exclusively for official duties,
Work-from-home reimbursements: Which payments remain tax-free and which don’t?

As remote and hybrid work arrangements become increasingly common, many employers may provide financial support to employees through Work from…

July 23, 2026 17:43 IST
A genuine income tax notice is an official communication issued by the Income Tax Department in connection with your return, assessment, refund, demand, or other tax matter.
Income tax notice or scam? Here’s how to check the difference before you reply

If the notice is real, read it carefully and respond within the deadline using the official channel. If you suspect…

July 22, 2026 21:12 IST
The data of some significant activity on the Income-tax portal for the last week (8–14 July 2026) shows that the Income-tax portal has been seeing a steady surge in usage.
ITR Filing 2026: Big changes made to income tax portal as return filing rush picks up

Given the high scale of concurrent access in the peak filing period, some taxpayers may, at times, experience transient technical…

July 22, 2026 15:50 IST
Foreign salary credited to NRE account: Why ITAT gave relief to an NRI in ₹45.66 lakh tax dispute
NRI gets Rs 46 lakh foreign salary in NRE account, faces tax demand of over Rs 12 lakh; ITAT says this

Can foreign salary become taxable in India just because it is credited to an NRE account or TDS is deducted…

July 21, 2026 20:30 IST
Here's why taxpayers should look beyond the Rs 10 lakh myth and understand the situations in which lower cash deposits can also attract the Income Tax Department's attention.
Below Rs 10 lakh in cash deposits? You may still have to explain them to Income Tax Dept

The Rs 10 lakh figure under Rule 114E is only the threshold at which a bank must formally report the…

July 21, 2026 14:16 IST
The review showed that the tax department's automated system caught three separate issues, centered around high-value disclosures and regime alignment problems.
From a Black Money Act notice to Rs 1,65,764 in tax savings: How a Mumbai professional fixed his global portfolios?

The automated tracking systems flagged this as a critical cross-border omission under the Black Money Act, which mandates that all…

July 20, 2026 20:45 IST
Man sells house for ₹1.10 crore; Income Tax calculates capital gains on ₹1.96 crore. What ITAT said
Man sells house for Rs 1.10 crore; Income Tax calculates capital gains on Rs 1.96 crore – what ITAT says

Can Income Tax calculate capital gains on a higher value than the price at which you sold your house? In…

July 17, 2026 19:42 IST
The reassessment notice must also be issued within the limitation period prescribed under section 149.
Received an income tax reassessment notice? This ITAT ruling shows when you can challenge it

Based on the given case law and the relevant assessment year, before issuing a reassessment notice under section 148, the…

July 17, 2026 18:44 IST
Think about what an income tax return actually contains. It shows your real income, not the number you tell people at dinner parties.
The Tax Return Is India’s Most Underpriced Document

The rapid growth of digital options for filing ITR is an incredible milestone. For years, this industry ignored tax filing…

July 17, 2026 15:07 IST
The requirement appears to be part of the broader shift towards more complete and structured taxpayer information in the ITR forms.
New in ITR 2026: Why is the Income Tax Department asking for a secondary address?

A secondary address may include any additional valid physical address associated with a taxpayer apart from the primary address disclosed…

July 15, 2026 18:44 IST
Taxpayer declares Rs 4.23 lakh income, faces Rs 1.52 crore tax demand over alleged interest on loan; ITAT says this
Taxpayer declares Rs 4.23 lakh income, faces Rs 1.52 crore tax demand over alleged loan interest earned; ITAT says this

Can the Income Tax Department make a tax addition merely because a loose sheet found during a search on someone…

July 14, 2026 20:35 IST
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