Latest updates for Income Tax

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Recent items include:

  • Income Tax awareness programme held at IGC Lassipora
  • Rs 30L salary, missed ITR after job switch; why ITAT cancelled Rs 3.74 lakh penalty
  • When Tax Rules Surprise You – The Taxman Isn’t Always Asking for More!

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greaterkashmir.com /6 days ago

Income Tax awareness programme held at IGC Lassipora

The Income Tax Office, Udhampur, in collaboration with the Industrial Association, organised an Income Tax Awareness Programme at the Industrial Growth Centre, Lassipora, to famili...

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timesofindia.indiatimes.com /6 days ago

Rs 30L salary, missed ITR after job switch; why ITAT cancelled Rs 3.74 lakh penalty

What appeared to be a filing lapse eventually turned into a tax penalty of Rs 3.74 lakh. The Income Tax Department took a strict view of the matter, maintaining that had the non-fi...

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thetaxtalk.com /4 weeks ago

When Tax Rules Surprise You – The Taxman Isn’t Always Asking for More!

When Tax Rules Surprise You – The Taxman Isn’t Always Asking for More! Query 1] My income during the year from salary was ₹11,72,190/-, Interest & Other Income was of ₹55,247/-...

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realty.economictimes.indiatimes.com /5 days ago

No tax on value of new property under redevelopment agreement: ITAT

A tax tribunal has sided with property owners involved in redevelopment disagreements, annulling a significant Rs 1.3 crore tax increment on a newly developed property. The tribuna...

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businesstoday.in /1 month ago

ITR filing 2026-27: Gross direct tax collections jump 16.1% to ₹7.74 lakh crore in FY27 so far

Gross direct tax collections for FY 2026-27 stood at ₹7,73,681.68 crore as on July 13, 2026, marking a 16.11% increase from ₹6,66,337.20 crore collected during the corresponding pe...

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businesstoday.in /1 month ago

Declared Australian salary in Indian ITR by mistake? Delhi ITAT says it can't be taxed under DTAA

The Delhi Income Tax Appellate Tribunal (ITAT) has provided relief to a taxpayer who inadvertently declared his Australian salary in his Indian ITR. It held that the income falls o...

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businesstoday.in /1 month ago

ITR Filing 2026: Don't panic! These 8 AIS transactions are usually not taxable

The Annual Information Statement (AIS) may list several high-value financial transactions, but not all of them are taxable. Tax experts say taxpayers should treat the AIS as an inf...

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timesofindia.indiatimes.com /1 month ago

5.9 crore returns filed till July 31 deadline: I-T dept

Nearly 5.9 crore income tax returns were filed by the July 31 deadline. This number is lower than last year's extended filing period. Major tax concessions were announced during th...

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businesstoday.in /1 month ago

ITR filing: 8 costly mistakes salaried employees should avoid to prevent tax notices and refund delays

ITR 2026: With tax authorities now having access to extensive financial information through multiple reporting systems, experts are advising that salaried employees should move bey...

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omanobserver.om /1 month ago

Who will calculate Oman’s income tax — and from whose data?

The Tax Authority set the RO 42,000 exemption threshold after examining income data collected from several government entities. In its announcement of the Personal Income Tax Law o...

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rte.ie /1 month ago

Income tax last month rose 12.7% on same period last year

Income tax collected by the State rose by 12.7% last month to €3.3 billion compared to July of 2025 in a sign that the jobs market remains healthy in the months before the Budget.

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timesofindia.indiatimes.com /5 days ago

Couple buys Rs 60L flat, husband taxed on Rs 34.81L stamp-duty gap; ITAT objects

Can the entire difference between a property’s actual purchase price and its stamp-duty value be added to the income of just one of its co-owners? A recent ruling by ITAT Mumbai ha...

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businesstoday.in /1 month ago

Section 10(14)(i) under new tax regime: Wrong claims can trigger income tax notices, warns tax expert

While taxpayers under the new tax regime have limited opportunities to claim exemptions, Section 10(14)(i) remains available for specified allowances provided by employers to meet...

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blog.saginfotech.com /3 weeks ago

IT Department Verifies Suspicious Foreign Remittances

As per the ground intelligence and data analysis of outward foreign remittances, the income tax department had identified various suspicious entities that remitted large amounts of...

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businesstoday.in /1 month ago

ITR filing 2026: Invested in REITs or InvITs? Here's how to report the income correctly while filing your tax returns

Investors who earned income from Real Estate Investment Trusts (REITs) or Infrastructure Investment Trusts (InvITs) during FY26 should ensure they report it correctly while filing...

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businesstoday.in /1 month ago

Salary doesn't decide your tax filing: Here's what really determines whether you file ITR-1, ITR-2, ITR-3 or ITR-4

Think your salary determines which income tax return form you should file? It doesn't. The right ITR form depends on your complete income profile — from capital gains and rental in...

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thetaxtalk.com /1 month ago

CBDT Mandates Upload of Foreign Assets and Income Data in AIS and Form 26AS Under AEOI

CBDT Mandates Upload of Foreign Assets and Income Data in AIS and Form 26AS Under AEOI     The Central Board of Direct Taxes has issued a key order to bring offshore financial data...

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businesstoday.in /1 month ago

ITR filing 2026: Tax Audit Season is here -- businesses, professionals: Who needs audit this month?

The presumptive taxation scheme is designed to simplify tax compliance for eligible taxpayers. Instead of maintaining detailed books of account and calculating actual profits, taxp...

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thehindubusinessline.com /1 month ago

The simple and complex of I-T: ITR-1 got easier, ITR-2 got harder

Three years of quiet redesign have redrawn who does what on India’s two most-used tax forms — and where the complexity now sits

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greaterkashmir.com /3 weeks ago

Income Tax Dept undertakes verification of suspicious foreign remittances

New Delhi, Aug 18: The Income Tax Department has launched a nationwide verification exercise into suspicious foreign remittances. The exercise follows data analysis and ground inte...

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survivefrance.com /1 month ago

Avis d’imposition 2026

No tax to pay as I paid “up front” last year apparently, doesn’t seem right to me as I filled in the same boxes as usual, won’t argue as they’re always right.

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businesstoday.in /2 weeks ago

Form 16 delay led to ITR non-filing and ₹3.74 lakh penalty: How a salaried employee won his case

A salaried employee’s failure to file his ITR after switching jobs led to a ₹3.74 lakh penalty, even though the TDS deducted by his employers was reflected in Form 26AS. ITAT Delhi...

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blog.taxact.com /6 days ago

Why Do I Owe Taxes To The IRS?

Updated for tax year 2026. You owe the IRS at tax time when your total tax for the year is […] The post Why Do I Owe Taxes To The IRS? appeared first on .

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itep.org /1 month ago

Flying Under the Tax Radar: How Profitable Airlines Avoided Federal Income Taxes in 2025

Corporate tax disclosures reveal that five profitable airlines paid almost nothing in federal income tax last year. In 2025, the effective federal income tax rates of these airline...

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Sources covering Income Tax

blog.saginfotech.com

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blog.taxact.com

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itep.org

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realty.economictimes.indiatimes.com

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thetaxtalk.com

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timesofindia.indiatimes.com

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