Income Tax News

Maintenance of Books of Accounts Under Income Tax Act, 2025

29 August 2026 at 09:27

Check the latest books of accounts rules under Section 62 of the Income-tax Act, 2025, including threshold limits, required records, 7-year retention and Rs 25,000 penalty.

Posted in Income Tax | 16236 Views

ICAI Extends Bulk UDIN Generation Facility to Tax Audit and Audit & Assurance Functions

29 August 2026 at 09:07

ICAI has extended the Bulk UDIN Generation facility to Tax Audit and Audit & Assurance Functions. Know the UDIN limit, process, OTP verification and modification options.

Posted in Income Tax | 1986 Views

Income Tax Exemption on Armed Forces Allowances Under Income Tax Act 2025

28 August 2026 at 09:30

The IT Act 2025 provides tax exemptions on several allowances received by armed forces personnel, including Siachen Allowance, High Altitude Allowance, Counter Insurgency Allowance, and Field Area Allowances. Check exemption limits and eligibility.

Posted in Income Tax | 4146 Views

Income Tax Department Releases Detailed Guidance on Taxation of Registered NPOs

28 August 2026 at 09:19

The Income Tax Department has explained the new taxation framework for Registered NPOs under the Income-tax Act, 2025, covering registration, income classification, compliance, commercial activities, donor approvals and penalties.

Posted in Income Tax | 2331 Views

Income Tax Relief on Arrears, Gratuity and Foreign Pension Under Sections 157 & 158

27 August 2026 at 09:20

Income Tax Sections 157 and 158 explained: Know the rules, eligibility, Form 39 and Form 40 requirements, and calculation of relief on arrears, gratuity, pension and foreign retirement accounts.

Posted in Income Tax | 7344 Views

No Deduction of TDS Under IT Act 2025: Form 121 Rules for Individuals and Senior Citizens

27 August 2026 at 09:10

Form 121 allows eligible taxpayers to claim no TDS on specified income under the Income-tax Act, 2025. Know eligibility, filing process, UIN and reporting rules.

Posted in Income Tax | 2 comments | 31101 Views

Income Tax Department Releases ITR-6 Offline Utility for AY 2026-27

26 August 2026 at 09:23

Income Tax Department releases ITR-6 offline utility Version 1.0.0 for companies other than those claiming Section 11 exemption. Check release date, Mac utility and key details.

Posted in Income Tax | 594 Views

TDS on Virtual Digital Assets Under Income Tax Act 2025: Key Rules, Rate, Threshold and Compliance

26 August 2026 at 09:14

Know the TDS rules on Virtual Digital Asset transfers under the Income-tax Act, 2025, including the 1% rate, Rs 50,000/ Rs 10,000 thresholds, exchange rules and compliance.

Posted in Income Tax | 3642 Views

Income Tax Refund Rules Under Income Tax Act, 2025: How to Claim Excess Tax Paid

25 August 2026 at 09:14

Learn how to claim an income tax refund for excess tax paid under the Income-tax Act, 2025, including refund eligibility, filing rules, delayed refund interest, set-off and condonation of delay.

Posted in Income Tax | 1 comments | 21801 Views

Specified Senior Citizens: TDS Rules on Pension and Interest Income Under Income Tax Act, 2025

24 August 2026 at 09:11

Specified senior citizens aged 75+ can get relief from ITR filing when they have only pension and interest income. Know the TDS rules, Form 125 and eligibility conditions.

Posted in Income Tax | 1 comments | 19938 Views