CBDT Extends Due Date for Filing Income Tax Audit Report for FY 2024-25 The Central Board of Direct Taxes (CBDT) has given a major relief to taxpayers by extending the due date for filing the Income Tax Audit Report for the financial year 2024–25 (Assessment Year 2025–26). Originally, the last date to file the audit … Read more
CBDT Circular No. 13/2025: Waiver of Interest under Section 220(2) Explained The Central Board of Direct Taxes (CBDT) has issued Circular No. 13/2025 dated September 11, 2025, providing relief to taxpayers who faced interest liability under Section 220(2) of the Income Tax Act, 1961 due to delayed payment of tax demand. This move comes as … Read more
Made a Mistake in ITR Filing for AY 2025–26? Here’s How to Correct It Filing your Income Tax Return (ITR) on time is important, but rushing at the last minute often leads to mistakes. If you filed your ITR in a hurry for Assessment Year (AY) 2025–26 and later realized there was an error, … Read more
Income Tax Refunds Delayed? Here’s Why the Department is Releasing Them Now If you are waiting for your income tax refund for AY 2025–26, there’s some good news. The Income Tax Department has started releasing refunds that were earlier delayed due to new automated checks and validations. While many taxpayers were worried about long waiting … Read more
Major Changes to Tax-Free Perquisites: What Employees Must Know in 2025 The Central Board of Direct Taxes (CBDT) has announced significant revisions to tax-free perquisites that directly impact salaried employees. Through Notification No. 133/2025, dated August 18, 2025, the government has raised outdated thresholds and provided much-needed relief for low and middle-income employees. These changes … Read more
