This concise guide explains CBDT's compulsory scrutiny guidelines for FY 2025-26. It outlines the specific high-risk scenarios that can lead to a detailed income tax examination, such as search operations, credible information of tax evasion, or large refund claims. The synopsis highlights that selected taxpayers will receive a Section 143(2) notice for complete, often faceless, scrutiny and advises preparedness and seeking professional help.

The Central Board of Direct Taxes (CBDT) has issued an order extending the processing deadline for electronically filed Income Tax Returns (ITR) for Assessment Year (AY) 2023-24 to November 30, 2025. This relaxation applies to returns where the intimation under Section 143(1) had previously lapsed. The blog post explains who benefits, important exceptions (like scrutiny cases and assessee-attributable delays), and reiterates the necessity of PAN-Aadhaar linking for refund eligibility. It highlights this as a significant relief for taxpayers.

This blog announces the commencement of ITR-1 and ITR-4 filing for AY 2025-26, highlighting both online pre-filled data and Excel utility options. It clarifies who should file each form and details the key due dates (July 31st standard, September 15th for audited cases), encouraging early filing with a call to action for myitronline services.

Big news for individual taxpayers and small businesses! The Income Tax Department has released the Excel Utilities for ITR-1 (Sahaj) and ITR-4 (Sugam) for Assessment Year 2025-26. This means you can now begin filing your income tax returns offline. This blog covers who can use these forms, the benefits of early filing, and how MYITRONLINE can provide seamless assistance.

The Central Board of Direct Taxes (CBDT) has announced an extension for the filing of Income Tax Returns (ITRs) for Assessment Year (AY) 2025-26. Originally due by July 31, 2025, the deadline has now been extended to September 15, 2025. This decision comes in light of structural and content revisions in the notified ITRs, necessitating additional time for system development and integration, and considering the time required for system readiness. The extension aims to provide taxpayers with a smooth and convenient filing experience, ensuring compliance and accurate reporting

The CBDT has notified IRFC's Ten-Year Zero Coupon Bonds under the Income Tax Act, potentially making the maturity proceeds tax-exempt under Section 10(15)(iv)(h). This offers a significant tax advantage for long-term investors compared to non-notified bonds.

The Central Board of Direct Taxes (CBDT) has introduced significant updates to the Income Tax Return Verification Form (ITR-V) and the ITR-Acknowledgement form for Assessment Year 2025-26, effective retroactively from April 1, 2025. These changes, announced under Notification No. 45/2025, are part of the Income-tax (Seventeenth Amendment) Rules, 2025, and are designed to streamline e-filing and verification, enhance security, and promote paperless tax administration. Key features include detailed verification options, improved security, comprehensive return summaries, and a strong emphasis on electronic verification, ensuring a faster, more convenient, and compliant tax filing process for millions of taxpayers.

The CBDT has notified the ITR forms (1-7) for AY 2025-26, incorporating changes from the Finance Act, 2024. This blog provides a comprehensive overview of the key modifications in each form, focusing on changes in capital gains reporting, eligibility criteria, deduction disclosures, and other compliance requirements to help taxpayers prepare for the upcoming filing season.

This blog post provides a detailed examination of the Central Board of Direct Taxes' (CBDT) notification regarding ITR-Form 6 for Assessment Year 2025-26. It clarifies who is required to file this form and highlights the key changes and reporting considerations, including digital assets, transfer pricing, and CSR expenditures. The importance of timely submission and staying informed about the new requirements is also emphasized.

The Central Board of Direct Taxes (CBDT) has notified ITR Form 2 for Assessment Year 2025-26 through Notification No. 43/2025 dated May 5, 2025. This early release benefits individuals and HUFs without business/professional income but potentially having capital gains, foreign assets, multiple house properties, or income over ₹50 lakh (₹50 lakh), allowing more time for preparation. The blog explains who should file ITR-2, highlights the significance of early notification for taxpayers and professionals, discusses potential areas of change (like capital gains reporting), and outlines actionable next steps for taxpayers to begin their FY 2024-25 tax filing preparations.

This blog post details the significant updates in India's Income Tax Return (ITR) forms for Assessment Year 2025-26 (FY 2024-25). It covers the default New Tax Regime and the opt-out process using Form 10-IEA, major changes in capital gains reporting including simplification for small investors (LTCG up to ₹1.25 lakh in ITR-1/4) and bifurcation of Schedule CG (pre/post July 23, 2024). It also explains key tax reporting updates like mandatory TDS section codes, enhanced deduction reporting via dropdowns, new rules for Section 80GG (Form 10BA), increased presumptive tax limits, and the revised threshold for Schedule AL. It concludes with a guide on choosing the correct ITR form and important filing deadlines.

The CBDT has released the updated ITR-Form 5 for Assessment Year 2025-26 (applicable to FY 2024-25) via Notification No. 42/2025 dated May 3, 2025. This blog post details who needs to file ITR-5, discusses anticipated key changes aligning with recent amendments and enhanced disclosure norms, outlines implications for taxpayers like Firms and LLPs, and provides actionable steps for compliance.