The Income Tax Department said over 5 crore ITRs have been filed for AY 2026-27 and urged taxpayers to file ITR-1 or ITR-2 before the July 31 deadline. It advised early filing after reconciling documents to avoid portal congestion and technical issues
A total of 576 individuals reported gross incomes of Rs 100 crore or more in Assessment Year 2025-26, up four-fold from five years ago. The government also highlighted declining unemployment and measures aimed at reducing income inequality and promoting inclusive economic growth
The Delhi High Court has ruled that an individual cannot seek a spouse’s income details through the RTI Act, holding that income tax information is personal in nature and exempt from disclosure unless it serves a larger public interest under the law
The Sep 15 deadline for filing ITRs is fast approaching, with over 4.56 crore returns already filed. Taxpayers are urged to avoid last-minute submissions to prevent inconvenience
Income tax returns filed online must be verified within 30 days, or they will be considered invalid. With the AY25-26 deadline set for September 15, tax experts urge users to complete the e-verification step to ensure their returns are processed
There are about 12 lakh verified ITRs in which further information has been sought by the income tax department, for which requisite communication has been sent to the taxpayers through their registered e-filing accounts.
The portal launched on June 7 continued to face glitches, including longer logging in time, inability to generate OTP for Aadhaar validation, non-availability of ITRs for past years.
According to the new Finance Bill (amended), all those who undertake journey outside the country and incur expenditure above Rs 2 lakh must compulsorily file an income tax return
The deadline to file Income Tax Returns (ITRs) by individual taxpayers for 2019-20 fiscal (Assessment Year 2020-21) ends on December 31, 2020, while the same for taxpayers whose accounts require to be audited is January 31, 2021.
