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Latest news on income tax slabs, return filing changes, deadlines, and new provisions from CBDT.
Receiving an Income Tax Notice can be stressful for taxpayers and business owners. However, receiving a notice does not always mean that you have committed tax fraud or made a serious mistake. In many cases, notices are issued simply to seek clarification, verify information, or rectify discrepancies found by the Income Tax Department. With increasing […]
Common Reasons for Receiving an Income Tax Notice in India Read More »
🔍 Latest Income Tax Filing Update – July 2025 The Income Tax Department has released the Excel-based offline utilities for ITR-2 and ITR-3 for Assessment Year 2025–26. Taxpayers falling under these categories can now prepare and file their income tax returns using the updated utility tools. 🧾 ITR-2 – Who Should File? ITR-2 is applicable
Excel Utilities of ITR-2 and ITR-3 for AY 2025–26 Are Now Live! Read More »
🔍 Overview The Central Board of Direct Taxes (CBDT) has issued Notification No. 74/2025 – Income Tax on 11th July 2025, announcing an important amendment under Section 10(23FE) of the Income-tax Act, 1961. This section provides income-tax exemption to specified persons, mainly sovereign wealth funds (SWFs) and pension funds making eligible investments in India. ✅
CBDT Notification No. 74/2025 – Income Tax (Dated: 11th July 2025) Read More »
1. ITR‑2 & ITR‑3 Utilities Still Pending As of June 2025, the Income Tax Department has only released ITR‑1 and ITR‑4 Excel/online filing utilities.ITR‑2 and ITR‑3—used by: Salaried individuals with capital gains Individuals with multiple properties or foreign assets (ITR‑2) Professionals and business owners (ITR‑3) These forms are still unavailable, causing delays for taxpayers who
🚨 Income Tax Filing Update – AY 2025–26 Read More »