Income Tax Dept Raids on Fake Deductions: Jail for Fake Refund Claims? Know the Strict Action in 2025 The Income Tax Department in India has launched strict action against taxpayers and professionals who claim fake deductions or file fraudulent refund claims. Recent raids, investigations, and penalties have made it clear: cheating on your taxes … Read more
Excel Utilities for ITR‑2 & ITR‑3 Now Live for AY 2025‑26: What You Need to Know Filing your income tax return just got much easier. For AY 2025–26, the Income Tax Department has released Excel-based utilities for ITR‑2 and ITR‑3. These tools are particularly helpful for taxpayers with multiple income sources, including capital gains, crypto … Read more
The Income Tax Department of India has begun processing returns for Assessment Year (AY) 2025–26 with over 1.05 crore Income Tax Returns (ITRs) already filed as of early July 2025. Around 95% of these ITRs have been verified, and about 63 lakh have been processed. However, many taxpayers are reporting income tax refund delays this year.
House Rent above 50,000? Here’s the TDS Rule You Need to Know Paying high monthly rent in India can come with an easy-to-overlook, but critical, tax obligation. If you are paying more than ₹50,000 per month in rent, you need to be aware of TDS on rent under Section 194-IB of the Income Tax … Read more
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If you want to avoid receiving unwanted Income Tax Notices this year, this guide is for you. We’ll explain 5 common mistakes that trigger notices, and a new update on online filing of Form ITR-B for taxpayers receiving Section 158BC notices.
