GCCI office at Ashram road in Ahmedabad Ahmedabad: Citing severe monsoon disruptions, the Gujarat Chamber of Commerce and Industry (GCCI) has written to the Central Board of Direct Taxes (CBDT) requesting at least a 15-day extension for filing non-audit income tax returns (ITR-1 and ITR-2) for assessment year 2026-27 beyond the July 31 deadline.The representation,…
What are the common mistakes that can lead to tax department queries or notices? (AI image) ITR filing FY 2025-26: Filing your income tax return (ITR) accurately is the first step to ensuring compliance. Any errors can invite questions from the Income tax Department, which may eventually lead to a tax notice as well. The…
Over the last few years, Form 26AS and Annual Information Statement (AIS) have emerged as key ITR filing documents. (AI image) ITR filing FY 2025-26: For salaried taxpayers, Form 26AS has become an important part of the income tax return filing process. Before you e-file your ITR on the income tax website, it is important…
The Mumbai income tax appellate tribunal held the delay for e-verification to be procedural Mumbai: Many taxpayers believe their compliance responsibility ends once the income tax (I-T) return is uploaded. But, an additional process is required. An electronically filed I-T return must also be e-verified within 30 days of being uploaded, without which it is…
The Mumbai income tax appellate tribunal held the delay for e-verification to be procedural Mumbai: Many taxpayers believe their compliance responsibility ends once the income tax (I-T) return is uploaded. But, an additional process is required. An electronically filed I-T return must also be e-verified within 30 days of being uploaded, without which it is…
For salaried taxpayers, Form 16 is one of the most important documents for ITR filing. (AI image) ITR filing FY 2025-26 (AY 2026-27): The income tax return filing season has started. One of the first things a taxpayer should do before logging into the income tax portal (incometax.gov.in/iec/foportal/) to file their tax return is to…
Let’s understand what is Form 16, what does it tell the taxpayer, and where can employees get it from: (AI image) ITR filing FY 2025-26: The tax returns filing season is here and ahead of the July 31, 2026 deadline, taxpayers are compiling important documents that are needed every year to file the income tax…
Just because the return-filing utility is available, does it automatically mean the return should be filed immediately? (AI image) ITR filing FY 2025-26: It’s that time of the year when you start gathering your important tax-related documents to file your income tax return (ITR). And while it’s always good to file your ITR on time,…
