Which ITR Form to File for AY 2026-27? ITR-1, ITR-2, ITR-3 and ITR-4 Explained
ITR filing for Financial Year 2025-26, relevant to Assessment Year 2026-27, has started. One of the most common mistakes taxpayers make while…
Read more →Fake Deductions in Old Tax Regime: Why Wrong ITR Refund Claims Can Lead to Penalty and Notice
Many salaried taxpayers choose the old tax regime because it allows deductions and exemptions such as HRA, home loan interest, Section 80C,…
Read more →Fake Deductions in ITR: Penalty, Prosecution and Corrective Options for Wrong Refund Claims
Income Tax Return filing has become easier, faster and more data-driven. Taxpayers can file ITR online without uploading proof of deductions or…
Read more →Who Must File ITR for AY 2026-27? Mandatory Income Tax Return Filing Cases Explained
Income Tax Return filing for Assessment Year 2026-27 has started, and one of the most common questions taxpayers ask is: “Is ITR…
Read more →Online Gaming Income Tax: Gross Winnings vs Net Winnings and How Taxpayers Should Handle Demand Notices
Online gaming income tax has become a major compliance issue for many taxpayers in India. Players of online rummy, poker, fantasy games…
Read more →Gift Deed Revocation in India: Supreme Court Clarifies When a Gift Can Be Cancelled
A gift deed is commonly used in India for transferring movable or immovable property between family members, relatives, trusts, institutions or other…
Read more →Tax-Free Gifts from Relatives in India: Income Tax Rules, Documentation and ITR Treatment
Receiving money from parents, spouse, siblings or close relatives is common in Indian families. Many people use such funds for buying property,…
Read more →HUF Income Generation and Tax Planning in India: Gifts, Loans, Business Income and Compliance Rules
A Hindu Undivided Family, commonly known as HUF, is a separate taxable entity under Indian income tax law. It can have its…
Read more →GST Reconciliation in Tally: GSTR-1, GSTR-3B, GSTR-2A, GSTR-2B and Books Matching Guide
GST reconciliation is one of the most important steps before finalising books of account, preparing GST annual returns, completing audit work and…
Read more →AY 2026-27 ITR Exempt Income Reporting: What Changed for Gifts, Reimbursements and Non-Taxable Receipts
Income Tax Return filing for Assessment Year 2026-27 has brought an important practical change in exempt income reporting. Earlier, many taxpayers and…
Read more →AY 2026-27 ITR Exempt Income Reporting: Impact of Removal of “Any Other” Option
Income Tax Return filing for Assessment Year 2026-27 has introduced an important practical change in the reporting of exempt income and non-taxable…
Read more →Form 140 TDS Return Filing for Non-Salary Payments: Complete Compliance Guide for Tax Year 2026-27
Form 140 is an important TDS compliance form for reporting tax deducted on non-salary payments made to resident deductees. From Tax Year…
Read more →