Taxpayer misses Rs 38 lakh income in ITR, pays tax and faces 200% penalty; ITAT says this Missed income in your ITR? A recent ITAT ruling highlights why taxpayers should disclose errors early, maintain evidence and understand… 4 weeks ago
Income Tax Department launches nationwide crackdown on suspicious foreign remittances: What should taxpayers know? Analysis revealed that a small cluster of professionals issued a disproportionately high volume of Form 15CB certificates to a concentrated… 2 months ago
Surat fruit trader declares Rs 14.57 lakh income; tax dept finds Rs 2.43 crore deposits, raises assessment to Rs 5.09 crore — ITAT finds major error The case rationale is that presumptive taxation simplifies the computation of business income, but it neither prevents the Department from… 2 months ago
Foreign RSUs, dividends and foreign tax credit: How a tech professional resolved a Schedule FA notice? Working with an experienced tax expert ensures that complex international disclosures are filed accurately, helping you resolve tax notices smoothly. 2 months ago
5 key financial rule changes in July that could impact your money From the ITR filing deadline to Aadhaar, passport fees and credit card rules, here’s a look at five key financial… 2 months ago
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… 3 months ago
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… 3 months ago
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… 3 months ago
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… 3 months ago
Why do taxpayers still get income tax notices even after reconciling AIS and Form 26AS? Large or unusual transactions may be reviewed more closely when they do not fit the taxpayer’s declared income pattern. So… 3 months ago
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… 3 months ago
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… 3 months ago
ITR Filing 2026: 5 situations where life insurance maturity proceeds become taxable It is also important to verify whether the insurer has deducted TDS under Section 194DA and whether the amount reported… 3 months ago
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… 3 months ago
ITR-7: Who must file, what’s changed and why it matters The Income Tax Department has released the ITR-7 Excel utility for AY 2026-27, enabling eligible trusts, political parties, and other… 3 months agoJuly 14, 2026
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… 3 months ago
ITR filing for AY 2026-27: 1.6 crore returns filed, 1.52 crore verified ahead of July 31 deadline As filing momentum continues, taxpayers should remain equally focused on accuracy by carefully reconciling disclosures with Form 26AS, AIS and… 3 months ago
Claiming 80G deduction? Here’s the new ITR disclosure requirement for taxpayers Where a taxpayer claims deduction under Section 80G, the prescribed reporting particulars should be completed accurately. 3 months ago
