ITR Filling

Big Tax Change Alert! Form 16 Replaced by Form 130 - Don’t File ITR Without Reading This

Big Tax Change Alert! Form 16 Replaced by Form 130 – Don’t File ITR Without Reading This

ITR Filling /

India’s tax system is steadily moving toward a more digital, transparent, and automated structure, and one of the biggest changes for salaried individuals is the introduction of Form 130 in place of Form 16. If you rely on Form 16 every year to file your Income Tax Return (ITR), this update is extremely important. In […]

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How the Extended ITR-3 & ITR-4 Deadline Impacts Your Tax Filing for AY 2026-27

How the Extended ITR-3 & ITR-4 Deadline Impacts Your Tax Filing for AY 2026-27

ITR Filling /

The Income Tax Department has introduced a welcome relief for non-audit taxpayers. Effective April 2026, the deadline to file ITR-3 and ITR-4 has been extended from the end of the financial year to 31st August. This new timeline is applicable retroactively for FY 2025-26 (AY 2026-27) as well. This change is particularly important for small

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From 7 to 2 Years What the Latest ITR Non-Filing Amendments Mean for Taxpayers

From 7 to 2 Years: What the Latest ITR Non-Filing Amendments Mean for Taxpayers

ITR Filling /

The Indian tax landscape has undergone a significant change that directly impacts high-value taxpayers and tax professionals. Under the newly revised provisions, the maximum term of imprisonment for non-filing of Income Tax Returns (ITR) where the tax liability exceeds ₹50 lakh has been reduced from 7 years to 2 years. This is a substantial shift

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