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Income Tax News

Missed filing ITR by July 31? Here's how you can still file your return

Missing the July 31 deadline comes at a cost.

Updated 6 days ago

Last day to file ITR today: Eligibility, step-by-step guide, ₹5,000 late fee

The income tax return filing deadline is July 31.

Updated 6 days ago

‘Don’t wait for last-minute rush': All you need to know as ITR deadline looms

ITR Form 1, also called Sahaj, is a simpler forms that cater to a large number of small and medium taxpayers.

Updated 7 days ago

ITR filing deadline: 5 things taxpayers should know before July 31

The countdown to the July 31 ITR filing deadline has entered its final stretch.

Updated 8 days ago

Afraid you’ll miss tax deadline? Don’t be

Every taxpayer has an obligation to file ITR even if tax liability is nil. Missing the deadline has its own consequences.

Updated 8 days ago

India’s middle class grew sevenfold, but salary growth remained weak

Efforts to formalise and widen the tax net are working. But, unless average wages go up for individuals, consumption will begin to drag.

Published 8 days ago

ITR deadline nears: Step-by-step guide to file return, avoid ₹5,000 penalty

"Avoid the 31 July, 2026 deadline stress and file your ITR 1 & 2 early,” IT-Department said in a post on X.

Updated 9 days ago

576 Indians reported ₹100 cr+ income in AY 2025-26, up from 142 in 2021-22: Govt

The Centre added that several indicators suggest improving economic inclusion.

Updated 10 days ago

Ludhiana: ₹2L misappropriated; accountant booked

The accused has been identified as Pardeep Singh, a resident of the Kot Mangal Singh area. (HT FILE)

Published 11 days ago

A look at most common income tax penalties as ITR filing deadline approaches

The income tax department has shared different consequences for various defaults or irregularities in tax filing.

Updated 13 days ago

Employee says he paid ₹1 crore as tax in 14 years, got ‘no support’ after layoff

An employee questioned lack of social security after being laid off.

Updated 17 days ago

Received your Income Tax Refund? Here is how to make the most of it

As July marks peak tax season, many receive their income tax refunds. This article reveals how to turn that refund into a financial game-changer. Rather than splurging, find out how to use this influx wisely to pay off debts, bolster your emergency fund, and invest for the future.

Updated 24 days ago

Income Tax Dept holds outreach programme in Gurugram on new tax Act, global taxation

Officials gave presentations on key reforms, structural changes and procedural updates under the new Income-tax Act and Rules as compared to the Income-tax Act, 1961.

Published 69 days ago

ITR filing season begins as tax department launches ITR-1, ITR-4 utilities

Taxpayers can use the Excel utilities to fill in income and tax details offline, calculate their tax liability, generate a JSON file and upload it on the e-filing portal for submission and verification. (Photo for representational purposes only)

Updated 83 days ago

Renting an apartment from an NRI landlord? Here’s what tenants need to know

A Bengaluru landlord lost a confirmed tenant after the tenant learned the owner was an NRI and backed out over the requirement to deduct 30% TDS on rent and file it with the government. (Photo for representational purposes only)

Updated 88 days ago

CBI books IRS officer, his wife in ₹4.57-cr disproportionate assets case

During the period under CBI scrutiny, Amit Singal was the additional director general of the Directorate General of Tax Services, CBIC, New Delhi, while his wife, Anupama Singla, was the commissioner of Income Tax, CBDT, New Delhi. (HT)

Published 96 days ago

₹3.12 lakh crore property deals under Income Tax dept scanner

SROs are statutorily required to report details of all immovable property transactions exceeding <span class='webrupee'>₹</span>30 lakh

Updated 104 days ago

‘Fake claim’: PIB fact-checks influencer CA Sarthak Ahuja on tax certificate

Sarthak Ahuja denied that his video had fake information.

Updated 110 days ago

Panel formed to probe into IRS officers 'unwarranted' treatment at Odisha Lok Bhavan: Official

Panel formed to probe into IRS officers 'unwarranted' treatment at Odisha Lok Bhavan: Official

Published 111 days ago

Trump Accounts: Scott Bessent gives big Form 4547 update as tax deadline ends

Donald Trump speaks to the press outside the Oval Office at the White House in Washington, DC on April 13.

Updated 112 days ago

New income tax law from April 1: All you need to know about the new rules

The new Income tax act will come into force from April 1, 2026. (Photo for representational purposes only)

Updated 128 days ago

New ITR deadline, higher STT: Full list of financial rule changes from Apr 1

Starting April 1, 2026, a host of financial and regulatory changes will come into force as India enters the new financial year 2026–27

Published 128 days ago

Income Tax changes: Tenants paying over ₹50k rent must deduct 2% TDS by March 31

Income Tax Changes 2026: Under Section 194-IB, tenants paying over <span class='webrupee'>₹</span>50,000 in monthly rent must deduct 2% TDS on the total annual rent and withhold it from the March payment; the responsibility rests on the tenant. (Picture for representational purposes only)

Updated 125 days ago

Section 54: Can seven adjoining flats qualify as a single unit for tax relief?

The Income Tax Appellate Tribunal ruled that adjoining flats used as one home qualify for exemption, shifting focus from the ‘one house’ rule to actual usage. (Picture for representational purposes only)

Updated 137 days ago

IT department notice to 63,000 restaurants for ‘underreporting’ income

In some cases, recorded sales were not fully reflected in financial accounts or tax filings.

Published 150 days ago

IT raids on UP BSP MLA’s premises enter Day 2; ₹10 crore cash, valuables recovered

Sources said investigators are analysing files, digital data and transaction trails to establish the alleged scale and nature of irregularities. (For Representation)

Updated 161 days ago

Can parents, in-laws, or a spouse be your landlord under Draft Tax Rules 2026?

Income Tax Draft Rules, 2026 introduce a key compliance change by mandating disclosure of the ‘relationship with the landlord’ in Form No. 124, a move aimed at curbing tax evasion rather than prohibiting genuine rental arrangements. (Photo for representational purposes only)

Updated 164 days ago

Why IRS website is down today. Thousands ask ‘Where is my refund?' amid issues

The IRS website was down on Wednesday

Published 169 days ago

SIT quizzes IT officials in CJ Roy’s death probe

SIT quizzes IT officials in CJ Roy’s death probe

Published 175 days ago

Row over tax rebate being withdrawn for disabled soldiers who serve

Several veterans have said that the discrimination is unjustified and has created two classes of disabled soldiers.

Published 175 days ago

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