AIS analytics now detect non-filers where pension and interest income exist. Voluntary filing through ITR-U helps avoid notices under Sections 142(1) and 148, saving professional costs and compliance ...
New income tax rules for 2026-27 propose redesigned ITR forms with more pre-filled details, aiming for simplification. Eligibility criteria for simplified forms like ITR-1 and ITR-4 have been adjusted ...
Section 139(8A) now permits filing of ITR-U within 48 months from the end of the assessment year. However, it cannot be used to reduce tax liability, claim refunds, or bypass departmental ...
The deadline to file Income Tax Returns (ITR) for the financial year 2024-25 (Assessment Year 2025-26) is approaching soon. Taxpayers, who are not liable for a tax audit of their accounts, are ...