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While some of these expectations are in sync with the government’s stated intent of simplifying and streamlining the taxation regime in India, others depict a wishlist. By Richa SawhneyThe Union Budget is just round the corner, and it is that time of the year when Indian taxpayers look at the hon’ble Finance Minister with a…
The new versus old tax regime choice was meant to empower taxpayers. Instead, it has spawned a parallel paperwork universe. By Nishant KhemaniEvery Union Budget comes with its share of grand announcements, but for ordinary taxpayers, the real test lies in the fine print. As Budget 2026 approaches, expectations are modest yet meaningful: simplify compliance,…
At present, non-resident individuals must file an Indian tax return if their total income exceeds Rs. 2.5 lakh. (AI image) India’s economic footprint extends far beyond its borders. Millions of Indians living abroad continue to hold property, investments, and financial interests back home. Foreign nationals and global investors, too, increasingly engage with Indian businesses. Yet,…
The income tax notices suggest that the assessment of income tax returns and the release of refunds have been paused for these categories of taxpayers. (AI image) Income Tax alert! The Income Tax Department is sending emails and SMSes to taxpayers, just ahead of the year-end, alerting them of mismatches in their deduction and exemption…
Representative image (AI-generated) The Income Tax Department on Tuesday issued a press release clarifying why several taxpayers have received emails and SMS alerts seeking a review of their tax deduction and exemption claims.The department urged taxpayers to review their deduction and exemption claims for the current assessment year and take corrective steps before the revised…
Taxpayers opting for the old tax regime can continue to claim deductions on donations made to eligible charitable organisations under Section 80G of the Income Tax Act, 1961. To clarify how such claims will be assessed and verified, the Income Tax Department issued an extensive set of FAQs on December 19, 2025, outlining both substantive…
The Income tax department (ITD) on Thursday said the recent communications sent to some taxpayers regarding their transactions are advisory in nature and aimed at facilitating voluntary compliance, not initiating enforcement action.In a post on X, the department said the messages were issued only in cases where there is an apparent significant gap between disclosures…
Image used for representative purposes NEW DELHI: The Income Tax Department has issued a public advisory cautioning taxpayers, especially senior citizens, against fraudulent emails, SMS messages, and websites impersonating the Department to steal personal and financial information.In an official awareness message shared by the Income Tax Department, Government of India, on X, taxpayers have been…
The Income Tax department will begin sending SMS and email alerts from November 28 to about 25,000 individuals flagged as “high-risk” for not disclosing foreign assets in their income tax returns (ITRs) for Assessment Year 2025–26, PTI reported citing sources. The cases were shortlisted on the basis of data received from foreign jurisdictions under the…
In a move set to ease taxpayer grievances and streamline refund corrections, the Central Board of Direct Taxes (CBDT) has authorised the Commissioner of Income Tax (CPC), Bengaluru, to directly rectify mistakes in assessment orders under Section 154 of the Income-tax Act, 1961.The notification, issued on October 27, 2025 (No. 155/2025), gives the Bengaluru-based Centralised…
