Here's Everything You Need to Know for the 2026 Tax Filing Season

The 2026 tax filing season has begun. Here are the key dates you need to know. During this filing season, taxpayers will need to use the newly created Schedule 1-A to take advantage of the new tax ...

From property deals to foreign assets: how the Income Tax Department tracks your money

In December, the Income-tax Department sent SMS and email alerts flagging mismatches in reported income and non-disclosure of foreign assets. This article explains how such information reaches the tax ...
Tax Guru

ITAT Delhi – Sec 115BAB Concessional Tax Cannot Be Denied in Subsequent Year Once Validly Exercised; CPC Adjustment Set Aside

ITAT held that once the concessional tax option under Section 115BAB is exercised in the first eligible year, it ...
Tax Guru

ITAT Delhi Quashes Sec 263 Revision – Mere Suspicion Alleged Inadequate Enquiry Not Sufficient to Invoke Revisionary Powers

The PCIT questioned deduction under Section 80JJAA and CSR expenses but failed to record specific findings. The Tribunal held that absence of independent verification and reasoning renders the Section ...