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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

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

The choice between the two long-term capital gains tax methods, namely 20% with indexation and 12.5% without indexation, does not alter a taxpayer's eligibility to claim exemptions under Sections 54, 54EC and 54F of the Income-tax Act.

Selling an old property? Indexation benefit isn’t gone for everyone: Check if you’re still eligible

Generally, indexation may be more beneficial where the property has been held for a long period, and its value has…

July 22, 2026 13:03 IST

Whether the shares are issued by an Indian employer or a foreign parent company, taxation generally takes place in two stages.

Sold company shares received from your employer? Here’s what to report in your ITR

Understanding the distinction between salary taxation, capital gains taxation and foreign asset reporting, while maintaining proper documentation and reconciling disclosures…

July 21, 2026 16:35 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

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

For AY 2026-27 or earlier years, notices, appeals, reassessments and pending proceedings will generally continue to be governed by the Income-tax Act, 1961, including the applicable limitation periods and procedural timelines.

New Income-tax Act 2025: Will your pending income tax case continue under the old law? Explained

The applicable law will depend on the tax year to which the proceedings relate. Where the proceedings pertain to assessment…

July 9, 2026 18:54 IST

Capital gains on sale are reported in the capital gains schedule, using ITR-2 (or ITR-3 if you have business income).

Which form of gold is actually the most tax-efficient after accounting for all taxes?

Here’s a detailed comparison of the major forms of gold investment to help you identify which option is the most…

July 6, 2026 15:35 IST

During review, the Income Tax Department may compare the deduction claimed in the return with the pre-filled data, employer records, bank statements, investment proofs, and other reporting sources.

ITR filing: The most common tax deduction claims that fail during income tax scrutiny

Avoid income tax scrutiny by claiming only eligible deductions backed by valid documents. Check which ITR claims are most frequently…

July 3, 2026 17:23 IST

Cash deposit, UPI, RTGS or NEFT: Which bank transactions can trigger an Income Tax notice?

Which bank transactions can attract an Income Tax notice? Check SFT reporting limits for cash deposits, UPI, RTGS, NEFT, property…

June 30, 2026 15:44 IST

Taxpayers can file their Income Tax Return (ITR) online on the Income Tax Department's e-filing portal. Most of the information is pre-filled from sources such as Form 26AS, Annual Information Statement (AIS), and Taxpayer Information Summary (TIS).

ITR online vs offline utility: What’s the difference and which one should you use?

Choosing the right filing method can make the process smoother and help reduce errors. But what exactly is the difference…

June 25, 2026 15:56 IST

The Income Tax Department (ITD) today relies extensively on data analytics and third-party reporting to validate claims of exempt income.

Nil tax on these earnings: Types of income that are tax-free in India

Taxpayers should maintain documentation that clearly establishes both the source of the income and the legal basis for claiming exemption.

June 25, 2026 12:54 IST

There has been a significant shift in the taxation structure for debt instruments pre and post April 1, 2023. Earlier instruments held for more than 36 months were taxed as long-term capital gains (20% base rate) with the benefit of indexation.

Bought debt funds before April 2023? Here’s how your gains will be taxed now

It is important to note that the old regime has been grandfathered, which means that it is still applicable for…

June 24, 2026 19:12 IST

If an employee has worked for two employers during the same financial year, salary income from both employers must be combined and reported in the ITR.

Worked for two employers last year? This common ITR mistake could trigger a tax notice

Deductions and exemptions should be claimed only once for the full year, not separately with each employer.

June 24, 2026 16:10 IST

There are various criteria that make filing of tax returns mandatory, and missing or miscalculating on any of these could result in the taxpayer not filing their return.

ITR filing not mandatory for everyone: Who can skip filing a tax return?

If one incorrectly assumes that filing is not required, then one would be liable to face interest for delay in…

June 24, 2026 13:14 IST

ITR filing AY 2026-27: How salaried individuals can file returns without a CA?

A smooth ITR filing experience begins with preparation. Taxpayers should ensure these things and keep certain documents and information handy,…

June 23, 2026 19:04 IST

Income Tax Rules 2026

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