India's income tax system is about to enter a new era. The government is preparing to implement the Income Tax Act, 2025, from April 1, 2026. This will replace the nearly six-decade-old Income Tax Act ...

Tax authorities initiated scrutiny and proposed addition solely because share acquisition details were not properly disclosed in the ITR. The case reinforces that for directors, the ITR functions as a ...

The Income Tax Department is expected to release updated Income Tax Return (ITR) forms for the financial year 2025–26 in the coming weeks. This move comes ahead of the implementation of the new Income ...

The government has informed Parliament that more than 24.64 lakh income tax returns have been pending for processing for over ...

However, from April 1, 2026, transactional forms such as tax deducted at source statements, remittances, Form 60, and Form 15G/15H would operate under the new simplified framework.