ITR Filing 2026: 8 Common Mistakes That Can Trigger Tax Notices The Income Tax Department is increasingly using AI and data analysis to spot errors or mismatches in tax returns. Meanwhile, the ITR forms for assessment year 2026-27 require some additional disclosures in some sections of the form. It will help if you file your…
Employee Claimed Rs. 3.91 Lakh TDS Credit in ITR but Got Credit for Only Rs. 79,030; ITAT Grants Relief Despite Employer’s Failure to Deposit TDS The Income Tax Appellate Tribunal (ITAT) Mumbai observed that the delay in filing the appeal deserved to be condoned since the assessee had been continuously pursuing rectification proceedings before the…
Contractor Faced Rs. 15.11 Lakh Service Tax Demand Based Solely on Form 26AS; High Court Quashes Demand, Interest and Penalties The Gauhati High Court has quashed a service tax demand of Rs.15.11 lakh raised against a road and bridge works sub-contractor, holding that liability cannot be determined solely on the basis of Form 26AS entries…
RBI Floating Rate Bond Interest Showing Only Half in AIS; Verify Income Before Filing ITR 2026 Tax professionals have highlighted that some discrepancies have been noticed in the interest earned from RBI Floating Rate Savings Bonds as the filing season for Assessment Year 2026-27 is approaching. Several investors observed that the income reflected in their…
Why Filing Your ITR Before June 15 May Lead to Tax Notices and Mismatches The Income Tax Department has started the ITR filing season for AY 2026-27 by releasing the ITR-1 and ITR-4 filing utilities. Many taxpayers have already started to prepare for the filing just to avoid the last-minute rush. Over the past few…
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