Income Tax Updates

Latest news on income tax slabs, return filing changes, deadlines, and new provisions from CBDT.

Why Filing an Income Tax Return (ITR) Is Important Even If You Have No Tax Liability

Leave a Comment / Clarifications, Income Tax Updates, Insights, Tax Knowledge / /

Many people believe that Income Tax Return (ITR) filing is only necessary when they have to pay income tax. However, this is one of the most common misconceptions among taxpayers. Even if your tax liability is zero, filing an ITR can provide several financial and legal benefits that can help you in the future. In […]

Why Filing an Income Tax Return (ITR) Is Important Even If You Have No Tax Liability Read More »

Common Reasons for Receiving an Income Tax Notice in India

Leave a Comment / Client Questions Answered, Income Tax Updates, Insights / /

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 »

Excel Utilities of ITR-2 and ITR-3 for AY 2025–26 Are Now Live!

Leave a Comment / Income Tax Updates, Insights, ITR & Filing Help, Tax Knowledge, Updates / /

🔍 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 »

CBDT Notification No. 74/2025 – Income Tax (Dated: 11th July 2025)

Leave a Comment / Clarifications, Compliance & MCA, Income Tax Updates, Insights, Tax Knowledge, Updates / /

🔍 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 »

🚨 Income Tax Filing Update – AY 2025–26

Leave a Comment / Client Questions Answered, Income Tax Updates, Insights, ITR & Filing Help, Updates / /

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 »