Last year, FM Sitharaman announced major changes in the new income tax regime, and while tax experts believe that there is little fiscal room in Budget 2026 for any big tax income tweaks, there is ...

The High Court set aside a tax demand arising from foreign tax credit mismatch because no valid intimation under Section 143(1) was produced or served. It held that recovery cannot be enforced without ...

ITAT rulings clarify that deduction of tax under Section 194J does not automatically classify income as professional income under Section ...

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From April 1, Income Tax Act, 2025, takes effect with draft rules already released. Key forms like Form 16, 26AS, 3CA, 3CB, 3CD, 10F, 10A are renumbered for simplified compliance.

Exemption on insurance interest awards, nil deduction certificates for small taxpayers, and extension of the ITR filing deadline for non-audit cases to 31 August, key updates for individual taxpayers ...

Taxpayers should consider ITR-U if they omitted income, wrongly claimed deductions or exemptions, or made reporting errors ...

A detailed guide to MF Central for tax season 2026, explaining how investors can use the SEBI-mandated platform to consolidate mutual fund holdings.

A lawsuit argues that the ballot question, which would reduce the state’s income tax to 4 percent from 5 percent, fails to meet a key constitutional requirement Opponents of a ballot question to ...

COLUMBIA — The income tax plan moving through the Statehouse aimed toward one day eliminating the burden entirely would cost nearly 27 percent of state taxpayers more so that others could pay less.

The IRS Direct File program was eliminated for the 2026 tax filing season. However, there are still several free tax preparation software options for some filers.

Draft Income Tax Rules 2026: The Income Tax Department has issued the draft Income Tax Rules, 2026, proposed to take effect ...