Income tax

April 18, 2026 admin Missing an Income Tax Return (ITR) deadline can cost you money – in penalties, interest, and even the loss of certain tax benefits. This guide covers every ITR filing due date for FY 2025-26 (AY 2026-27), whether you are a salaried individual, a business owner, or subject to a tax audit. […]

April 17, 2026 admin If you run a business or practice as a professional in India, understanding tax audit requirements under the Income Tax Act is critical for staying compliant. For FY 2025-26 (AY 2026-27), the rules under Section 44AB govern who must get their books audited and by when. This guide covers who needs

April 9, 2026 admin Every year, millions of Indians wonder whether they actually need to file an Income Tax Return (ITR). Many assume that if no tax is due, filing is optional. That is not always true. The Income Tax Act specifies several situations where ITR filing is mandatory, regardless of whether you owe any

April 8, 2026 admin The Income Tax Department has revamped the TRACES (TDS Reconciliation Analysis and Correction Enabling System) portal with a new interface and updated navigation. For all compliance work related to Financial Year 2025-26 and earlier periods, users must now select ‘Compliance under Income Tax Act, 1961’ from the menu after logging in.

From 1 April 2026, the Income Tax Department has introduced a major change in how TDS payments are made for property purchases, rent, and certain other specified transactions. A single new form – Form 141 – now replaces the four separate forms that taxpayers previously had to deal with: 26QB, 26QC, 26QD, and 26QE. This

The Income Tax Department of India has issued an urgent warning for taxpayers about a sharp rise in fraudulent messages, emails, and calls related to ITR filing and income tax refunds. Scammers are impersonating official government sources to steal personal and banking information from unsuspecting citizens. This article explains what fake ITR messages look like,

With 31st March 2026 just around the corner, businesses across India face a critical compliance deadline under Section 43B(h) of the Income Tax Act. This provision, introduced by the Finance Act 2023 and effective from FY 2023-24, makes it mandatory for companies to clear dues owed to Micro and Small Enterprises (MSEs) within a prescribed

Tax planning is a crucial aspect for businesses, and understanding how to carry forward and set off losses can help optimize tax liability. Section 73A of the Income Tax Act, 1961, deals specifically with the treatment of losses incurred by specified businesses under Section 35AD. This blog explores the provisions of Section 73A and how

Speculation business involves high-risk trading activities, often leading to significant financial fluctuations. The Income Tax Act, 1961, has specific provisions governing the treatment of losses incurred in such businesses. This blog explores how speculation losses can be set off and carried forward for tax purposes, ensuring compliance with income tax laws and effective financial planning.

In business, losses are inevitable, but income tax rules provide relief by allowing businesses to carry forward and set off losses against future profits. The Income Tax Act, 1961, outlines specific provisions for the carry forward and set off of business losses, ensuring that businesses can optimize their tax liabilities efficiently. This blog explores the