The Income Tax Act 2025 replaces the confusing Assessment Year system with a simpler Tax Year concept, aligning income and tax filing in the same year to make compliance clearer, faster and taxpayer-friendly.
The Income Tax Department has started sending emails and SMS alerts to taxpayers flagging mismatches in ITR deduction and exemption claims, putting assessments and refunds on hold ahead of the December 31 deadline.
The "wait and see" tax approach is over. With rising IT notices, Dec 31 deadline and stricter scrutiny, income tax compliance is now unavoidable.
Understand Form 16 with this complete guide for salaried employees. Learn its meaning, parts, deductions, exemptions, and how to use it for ITR filing.
Salaried employee can now save up to ?17,500 due to the increase in the standard deduction. Check out the increased amount?
MCA extends AOC-4/MGT-7 to 31 Jan 2026 but focus shift to urgent GSTR-9/9C & ITRs first.
Income Tax Dept can issue notice u/s 133(6) anytime, even years after ITR filing. Correct wrong refunds, exemptions or income before 31 Dec 2025 to avoid penalties.
TDS on hotel room rent is a tax, applicable when total rent exceeds the specified threshold limit in the financial year.
Check out how to pay zero income tax on ?12 lakh income with deductions and rebates under the Old Tax Regime.
GSTR-9 for FY 2024-25 brings automatic ITC population via IMS + GSTR-2B to new tables and revised ITC reconciliation.
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