This simple guide explains Form 26A and how it helps TDS deductors avoid being "at fault" under Section 201. It covers the benefits, conditions for filing, how interest is calculated, and important court decisions that provide relief. This resource is clear and easy to understand for managing TDS compliance.

This guide explains TCS Return Form 27EQ for businesses and individuals. It covers its purpose, quarterly due dates, how to pay TCS using Challan 281, and the consequences of late filing or payment, such as interest and penalties. The text uses clear language for easy understanding, helping you stay compliant.

This blog post breaks down the recent GST Portal advisory about Table 3.2 of GSTR-3B. It explains that starting July 2025, details of inter-state supplies to unregistered persons, composition taxpayers, and UIN holders will be auto-filled and non-editable in GSTR-3B. This information will come directly from GSTR-1 or IFF. The advisory aims to cut down on mistakes and keep data consistent. The post also covers why this change is occurring, how to fix errors by amending GSTR-1/IFF or using GSTR-1A, and offers an action plan for taxpayers to ensure they report accurately and smoothly file their GST.

This blog post details the various consequences of not filing Income Tax Returns in India, including immediate financial penalties, loss of benefits like carrying forward losses or claiming refunds, and harsher repercussions such as best judgment assessment, heavy fines, and even prosecution.

This blog post announces the release of updated Tax Audit Forms 3CA-3CD and 3CB-3CD on the e-Filing portal. These updates are based on Notification No. 23/2025. It explains the purpose of these forms, identifies who must file them, and highlights the importance of knowing the new changes and meeting deadlines. The post stresses the need for proactive compliance to avoid penalties and positions myITROnline as a helpful partner for smooth tax audit and ITR filing.

This blog post alerts Indian taxpayers about the important need to report foreign Employee Stock Option Plans (ESOPs) in their Income Tax Returns. It describes what foreign ESOPs are and explains why disclosing them is required under laws like the "Black Money Act." Failing to comply can lead to a large penalty of 10,00,000 and possible jail time. The post also offers straightforward instructions on how and where to report these assets in ITR-2 or ITR-3, urging taxpayers to act quickly and recommending myITROnline for expert help.

Big news for legal aid. The CBDT Notification S.O. 3204(E) gives important income tax exemptions to District Legal Service Authorities in Haryana, including Gurgaon, Mewat, and others, starting from AY 2025-26. Discover which income is exempt and the conditions that apply.

This blog post provides a comprehensive overview of Section 201(1A) of the Income Tax Act, 1961, focusing on the interest levied for delayed TDS deduction or payment. It explains the two distinct scenarios for interest calculation (1% for failure to deduct, 1.5% for failure to pay after deduction), clarifies the "month or part of a month" rule, and illustrates calculations with clear examples. Furthermore, it details the severe implications for defaulting deductors, including "assessee in default" status, disallowance of expenditure under Section 40(a)(ia), various penalties (271C, 271H), and potential prosecution. The post concludes with practical best practices to help deductors ensure timely compliance and avoid these costly repercussions.

This blog post announces the release of ITR-2 and ITR-3 Excel utilities for AY 2025-26. It explains which taxpayers must use these forms and highlights important updates from the Finance Act, 2024. These updates include changes to capital gains segregation, share buyback rules, and higher asset reporting thresholds. The post describes the benefits of using Excel utilities and offers a clear, step-by-step guide for filing. It stresses key points like the e-verification deadline and the need for accuracy and good record-keeping to ensure smooth compliance.

The Income Tax Department is making significant updates and tightening compliance for FY 2025-26 (AY 2026-27). This blog post serves as an important "taxpayer alert." It explains key changes, such as the mandatory Aadhaar-based verification for updates to the e-filing portal and PAN applications. There is also a stronger emphasis on computer-assisted scrutiny (CASS) for certain types of returns, including survey/search cases, ITR-7 filers, recurring additions, and intelligence alerts. Additionally, it provides information on expected delays in ITR refunds due to outstanding demands and technical upgrades. The focus on HRA claims will tighten, especially those that involve family members. It highlights the need for proactive compliance, careful record-keeping, and timely responses to avoid penalties and ensure a smooth tax experience.

This blog post announces the release of new utility versions on the TRACES (TDS Reconciliation Analysis and Correction Enabling System) portal for Justification Reports (Version 3.4), Form 16A (Version 2.1L), and Form 27D (Version 1.4). It explains the purpose of each document, detailing how the updated Excel utility for Justification Reports enhances error analysis and how the new Form 16A and 27D utilities simplify certificate generation. The post emphasizes that these updates signify the Income Tax Department's commitment to improving compliance, reducing errors, and streamlining TDS/TCS processes for deductors and collectors.

This blog post offers a clear comparison of four important TDS sections related to property and rental income in India: 194I, 194-IA, 194-IB, and 194-IC. It explains each section's nature of payment, payer, payee, threshold limits, TDS rates (including recent changes for 194-IB and 194I for FY 2025-26), time of deduction, required forms, and TAN requirements. The post also discusses the connections between these sections, compliance issues, and best practices for individuals, businesses, and developers to manage the TDS landscape effectively and avoid penalties.