Every filing season, the same errors appear across hundreds of income tax returns, not because taxpayers are being careless, but because certain aspects of the ITR are genuinely easy to get wrong, especially when filing is done in a hurry or without cross-checking underlying records. Some mistakes lead to a demand notice. Some lead to …
If you received an income tax notice under Section 143(2) in the last few weeks, you are not alone. Thousands of taxpayers across India, including many in Gurgaon and Delhi NCR, have received these notices in June 2026. There is a clear legal reason behind this sudden wave, and understanding it will help you respond …
Filing an Income Tax Return as a Non-Resident Individual (NRI) involves a distinct set of rules compared to resident taxpayers — from determining residential status itself, to selecting the correct ITR form, to applying the right tax slabs and surcharge structure. This guide covers everything NRIs need to know for FY 2025-26 (Assessment Year 2026-27). …
If you are a Resident Indian taxpayer who holds assets outside India, or earns any income from foreign sources, your Income Tax Return filing for FY 2025-26 (Assessment Year 2026-27) goes beyond reporting your Indian salary or business income. You are legally required to disclose all foreign holdings and income through three dedicated schedules in …
Getting your documents ready before you open the income tax portal is the single most important step in filing a smooth, accurate, and stress-free ITR. This guide covers every document a salaried employee needs for FY 2025-26, what each document means, and what the Income Tax Act says about it. A Quick Note Before We …
Raghav Sharma was a 38-year-old software engineer working at a mid-sized IT company in Gurugram. He earned a decent salary, paid his EMIs on time, never missed a gym session, and was generally considered a responsible adult by everyone who knew him. Everyone, that is, except his wife Priya — who happened to be a …
Every year, somewhere around the month of June, something quietly shifts in the air across offices, homes, and WhatsApp groups all over India. Someone mentions Form 16. Someone else asks about the last date. A colleague says they already filed. And suddenly, everyone remembers — it is income tax return season. If you are reading …
Continue reading “It Is That Time of the Year Again — Your Complete ITR Guide for FY 2025-26”
Most people are aware that the Income Tax Department keeps a close watch on large financial transactions. But few know the exact mechanism behind this surveillance. Rule 114E of the Income Tax Rules, 1962 is the provision that makes it happen. It requires certain specified entities — banks, mutual funds, registrars, companies and others, to …
Every year, crores of Indian taxpayers sit down to file their Income Tax Return and face the same question: Which ITR form should I use, and how do I fill it correctly? For most salaried individuals in India, the answer is ITR-1, also called SAHAJ, the simplest income tax return form available. But “simple” does …
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has once again delivered an important judgment protecting taxpayers from invalid reassessment proceedings initiated without following mandatory legal procedures. In the case of Mathew Julius Menezes ITAT Mumbai Case, the Tribunal quashed the reassessment proceedings initiated under Sections 147 and 148 of the Income Tax …
Continue reading “Section 148 Notice Quashed by ITAT Mumbai for Invalid Sanction Under Section 151”
