Receiving income tax notices can be stressful, especially if you are not sure what it means or what action is required from your side. Many taxpayers panic the moment they see an email or SMS from the Income Tax Department. However, not every income tax notice is bad news. Some notices are purely informational, while … Read more
India’s direct tax collections for FY 2025-26 have shown a steady year-on-year (YoY) growth of 7%, signaling strong revenue performance driven by higher corporate profitability and rising personal income levels. However, the 18% decline in refunds has caught attention, suggesting tighter scrutiny and faster processing of genuine tax dues by the Income Tax Department. Strong … Read more
ITR Audit Due Date: CBDT Extends Deadlines for Filing Audit Reports and Income Tax Returns for AY 2025-26 The Central Board of Direct Taxes (CBDT) has officially announced an extension of the due dates for filing Income Tax Returns (ITRs) and Tax Audit Reports for the Assessment Year (AY) 2025–26. This move comes as a … Read more