The story so far: With effect from April 1, 2026, the Income Tax Act, 2025 replaces the six-decade-old Income Tax Act, 1961. The objective is to enhance predictability, transparency, reduce compliance ...
The Income Tax Act, 2025 replaces the 1961 law with fewer sections and forms, introduces a single Form 121 for TDS declarations, expands Form 26AS into a wider financial statement, and lowers TCS on ...
The Income-Tax (I-T) Department has launched its revamped and upgraded TDS Reconciliation Analysis and Correction Enabling System website i.e. TRACES portal aimed at providing single window access to ...
The Income Tax Department has notified all seven ITR forms, along with ITR-V and ITR-U, for the Assessment Year 2026-27 (Financial Year 2025-26). This has led many taxpayers to wonder if they can ...
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Income tax changes from April 1: Form 16, 26AS and more to get new numbers from new FY - New rules explained
The income tax filing framework is ready for a structural shift, starting April 1, 2026, with several commonly used forms being assigned new identification numbers. The move comes in line with the ...
Form 16 is now Form 130 (salary TDS certificate) Form 26AS is now Form 168 (Annual Information Statement) Forms 15G and 15H are now Form 121 Tax audit forms (3CA, 3CB, 3CD) are merged into Form 26 ...
The government has notified Income Tax Return (ITR) forms for Financial Year 2025–26, effective from 1 April 2026, with certain updates to the old forms. The new Income Tax Act also took effect on 1 ...
Income tax refund delay AY 2025-26: The last date for filing the income tax return is 15 September. If you have not filed ITR yet, then you should do it without delay. Filing late can lead to a ...
To file ITR-4 for AY 2026-27, visit the Income Tax e-Filing Portal, verify details, enter income and deductions, validate the ...
Missing the PAN-Aadhaar linking deadline is now beginning to show real consequences for taxpayers, with several financial and compliance-related disruptions coming into effect. With the December 31, ...
Did our AI summary help? With the government notifying Income Tax Return (ITR) forms for Assessment Year 2026–27, the filing season has effectively begun, giving taxpayers clarity on compliance ...
Vikram Mondal, a professional in Bengaluru, pays ₹75,000 in monthly rent, placing him above the ₹50,000 threshold for 2% TDS under Section 194-IB. Instead of facing a large deduction in March, he ...
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