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Futures and Options (F&O) are derivative contracts whose value is linked to an underlying asset, such as shares, stock-market indices, currencies or commodities. F&O (Futures & Options) income refers to the income derived from trading in such derivative contracts.

F&O income tax filing: Which ITR form to use, how to calculate turnover, and new AY 2026-27 rules explained ahead of due dates

F&O (Futures & Options) income is treated as non-speculative business income and is taxable under the head Profits and Gains…

August 4, 2026 18:31 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

AIS captures interest reported by banks on savings accounts, fixed deposits, and recurring deposits.

ITR filing 2026: Don’t submit your income tax return before checking these key details in AIS

Taxpayers must reconcile AIS and TIS information with bank statements, investment records, and other supporting documents to ensure complete and…

July 31, 2026 15:51 IST

Complete the e-verification within the prescribed time to ensure that your return is treated as valid.

ITR filing for AY 2026-27: One simple check that can help you avoid an income tax notice

Filing your Income Tax Return (ITR) before the deadline is only half the job—filing it accurately is just as important.…

July 31, 2026 15:39 IST

Before filing, taxpayers should keep the quarterly or annual distribution statement, broker or demat statement, AIS/26AS entries, and sale contract notes if units were sold.

ITR filing 2026 last date today: How to report income from REITs and InVITs in ITR for AY 2026-27?

The nature of each component matters, because a REIT or InVIT payout may include interest, dividend, rental income, or capital…

July 31, 2026 15:25 IST

Salaried taxpayers and other individuals without business or professional income can switch between the old and new tax regimes while filing their ITR, irrespective of the regime communicated to the employer in the beginning of the financial year.

ITR last date today: Can you choose a different tax regime at the last minute?

A taxpayer should switch only after comparing the final tax outcome under both regimes. If the old regime gives a…

July 31, 2026 12:22 IST

Taxpayers should note that the July 31 ITR filing deadline does not apply to everyone. It is primarily meant for taxpayers who are not required to get their accounts audited, including most individuals filing ITR-1 or ITR-2.

ITR filing due date AY 2026-27: What happens if you miss the deadline? Penalties, refund delays and more

Unless the government announces an extension, as it did last year, taxpayers filing their ITR using the aforementioned two forms…

July 31, 2026 11:50 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

Last year, the Income Tax Department received a record of over 7.3 crore ITRs by the final deadline of September 15, 2025, which was later extended by one more day to September 16 after taxpayers faced technical issues on the e-filing portal.

ITR filing deadline extension likely? 2.6 crore returns still needed to match last year’s record; filing pace remains slow

With just three days left before the July 31 ITR filing deadline, only 4.69 crore income tax returns had been…

July 29, 2026 19:03 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

Accurate disclosure of foreign assets and overseas income helps taxpayers comply voluntarily with the reporting requirements under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, according to the Income Tax Department.

ITR checklist for taxpayers with foreign investments: Avoid these common mistakes

ITR filing AY 2026-27: Own foreign stocks, mutual funds, or a foreign bank account? Check this essential ITR filing checklist…

July 28, 2026 18:06 IST

The applicable form depends on the nature of the taxpayer's income - whether it is salary , capital gains, foreign assets, or foreign assets.

ITR filing AY 26-27: 5 big mistakes taxpayers make while selecting an ITR form

ITR filing AY 2026-27: Avoid these 5 common mistakes while selecting an ITR form. Choosing the wrong form can delay…

July 28, 2026 16:48 IST

As the deadline approaches, many taxpayers are wondering whether the Income Tax Department will announce an extension this year too, especially after it extended the due date twice last year—first from July 31 to September 15, and then by a further day to September 16.

Income Tax Return filing due date extension: 5 reasons why July 31 may remain the last date

Minister of State for Finance Pankaj Chaudhary informed the Lok Sabha on July 20 that despite a sharp rise in…

July 28, 2026 15:21 IST

With the deadline just around the corner, taxpayers who have not yet filed their returns may face heavy traffic on the e-filing portal and last-minute glitches.

ITR filing deadline extension beyond July 31 on the cards? Here’s what taxpayers should know

At this stage, a further extension does not seem likely. The ITR forms were already simplified last year and introduced…

July 28, 2026 13:24 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

From your filed ITR and Form 16 to bank statements and property papers, these documents serve as proof of the information you reported in your return.

Don’t discard these ITR documents for 6 years after filing, warn tax experts

Throwing away old tax records too soon can create real problems if you later receive a notice, need to file…

July 23, 2026 14:38 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

Retirees should evaluate their filing obligation each year based on the composition of income rather than age alone.

Retired and income below the tax limit? Here’s why you should still file your ITR

From a practical perspective, retirees should view ITR filing not merely as a statutory obligation but as an annual financial…

July 20, 2026 20:06 IST

Income Tax Return 2026-27

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