Income Tax News
No Foreign Travel Tax Planned: PM Modi Dismisses Viral Media Report
18 May 2026 at 09:16PM Modi has dismissed reports claiming the government plans to impose a cess, tax or surcharge on foreign travel. He reiterated the govt's focus on Ease of Doing Business and Ease of Living, while the media outlet later withdrew the inaccurate report.
Form No. 124 Under New Tax Rules: What Employees Must Submit to Reduce Salary TDS
18 May 2026 at 09:16Learn everything about Form No. 124 under the Income-tax Act, 2025. Check FAQs on HRA, LTA, home loan interest, investment deductions, PAN requirement, online submission process and employee TDS benefits.
Form 31 Under Income Tax Act 2025 Mandatory for Claiming Rent Deduction Without HRA
16 May 2026 at 10:34Form 31 under the Income-tax Act, 2025 is mandatory for claiming deduction under Section 134 on rent paid without HRA. Check eligibility, due date, deduction limit, FAQs and filing details.
Form No 27 Under IT Act 2025: Mandatory Reporting for Dissolution or Reconstitution of Firms
16 May 2026 at 10:34Form No. 27 under the Income-tax Act 2025 made mandatory for specified entities in dissolution or reconstitution cases. Check filing rules, due date, valuation requiremen and key FAQs.
Form 71 Under Income Tax Act 2025: FAQs, Filing Process, Eligibility, Due Date and Key Compliance Details
15 May 2026 at 09:42Understand Form 71 under Income Tax Act 2025 including filing procedure, eligibility, due date, mandatory audit requirements and tax exemption conditions.
Income Tax Department Releases ITR-1, ITR-4 Excel Utilities for AY 2026-27
15 May 2026 at 09:29Income Tax Department releases ITR-1 and ITR-4 Excel utilities for AY 2026-27 on 15 May 2026. Check eligibility, filing conditions, utility details, schema, validations and key updates.
Electoral Trusts Must File FN 181 Audit Report Under Income Tax Rules 2026
14 May 2026 at 09:38The Income Tax Department has introduced FN 181 under Income Tax Rules 2026 for electoral trusts claiming exemption on voluntary contributions. Know filing rules, eligibility, deadline, audit requirements and key FAQs.
Income Tax Department Releases Central Action Plan 2026-27
14 May 2026 at 09:28The Income Tax Department's Central Action Plan (CAP) 2026-27 introduces new tax collection targets, faster grievance redressal, appeal disposal timelines, improved taxpayer services and technology-driven tax administration under the IT Act, 2025
Form 65: Documents, Eligibility and Benefits u/s 194 of Income Tax Act 2025
13 May 2026 at 09:43The Income Tax Department has clarified the rules for Form 65 under the Income Tax Act 2025. Know eligibility, filing process, 10% concessional tax benefit on patent royalty income, documents required and 5-year lock-in conditions.
CBDT Introduces Form 81 for Shipping Companies under Income Tax Act 2025
12 May 2026 at 09:21CBDT’s new Form 81 under the Income-tax Rules 2026 replaces Form 66 for companies opting for the Tonnage Tax Scheme. Know applicability, reporting requirements, audit details, annexures and compliance obligations.
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