New income tax rules for 2026-27 propose redesigned ITR forms with more pre-filled details, aiming for simplification. Eligibility criteria for simplified forms like ITR-1 and ITR-4 have been adjusted ...

Filing your income tax return can be, for many, a dreaded annual task. And paying to file unnecessarily can only add insult to injury. Still, many eligible filers fail to take advantage of a free ...

If you haven't filed your Income Tax Return (ITR) for the financial year 2024-25 (FY25), there's no need to panic. Even if ...

No interest is payable if the refund amount is less than 10 percent of the tax determined under section 143(1) or pursuant to regular assessment ...

Budget 2026 significantly softens penalties for income tax defaults. The jail term for failing to file ITR with tax exceeding ...

Finance Minister Nirmala Sitharaman clarified this during her Budget speech, saying that only specific taxpayers would get extra time, while most individuals would continue to follow the existing ...

With the December 31 deadline for filing revised income tax returns now over, many taxpayers who later spot missed income or ...

Experts expect fewer irrelevant disclosures, better system stability and smoother reconciliation with AIS in FY26 returns ...

The move is also expected to ease pressure during peak filing periods, as more people will be able to complete the process ...

Income-tax Rules: The Income Tax Department has released draft Income-tax Rules, 2026, effective April 1, 2026, simplifying ITR filing forms and procedures. These draft rules, open for public feedback ...

India's income tax system is about to enter a new era. The government is preparing to implement the Income Tax Act, 2025, ...

The Budget 2026 introduces significant penalties for correcting past income-tax errors with the updated Income Tax Return (ITR-U) provisions.