Income Tax News

Form No. 124 Under New Tax Rules: What Employees Must Submit to Reduce Salary TDS

18 May 2026 at 09:16

Learn everything about Form No. 124 under the Income-tax Act, 2025. Check FAQs on HRA, LTA, home loan interest, investment deductions, PAN requirement, online submission process and employee TDS benefits.

Posted in Income Tax | 1 comments | 4497 Views

Form 31 Under Income Tax Act 2025 Mandatory for Claiming Rent Deduction Without HRA

16 May 2026 at 10:34

Form 31 under the Income-tax Act, 2025 is mandatory for claiming deduction under Section 134 on rent paid without HRA. Check eligibility, due date, deduction limit, FAQs and filing details.

Posted in Income Tax | 1 comments | 2700 Views

Form No 27 Under IT Act 2025: Mandatory Reporting for Dissolution or Reconstitution of Firms

16 May 2026 at 10:34

Form No. 27 under the Income-tax Act 2025 made mandatory for specified entities in dissolution or reconstitution cases. Check filing rules, due date, valuation requiremen and key FAQs.

Posted in Income Tax | 1 comments | 4413 Views

Form 71 Under Income Tax Act 2025: FAQs, Filing Process, Eligibility, Due Date and Key Compliance Details

15 May 2026 at 09:42

Understand Form 71 under Income Tax Act 2025 including filing procedure, eligibility, due date, mandatory audit requirements and tax exemption conditions.

Posted in Income Tax | 1 comments | 3213 Views

Income Tax Department Releases ITR-1, ITR-4 Excel Utilities for AY 2026-27

15 May 2026 at 09:29

Income Tax Department releases ITR-1 and ITR-4 Excel utilities for AY 2026-27 on 15 May 2026. Check eligibility, filing conditions, utility details, schema, validations and key updates.

Posted in Income Tax | 1 comments | 5151 Views

Electoral Trusts Must File FN 181 Audit Report Under Income Tax Rules 2026

14 May 2026 at 09:38

The Income Tax Department has introduced FN 181 under Income Tax Rules 2026 for electoral trusts claiming exemption on voluntary contributions. Know filing rules, eligibility, deadline, audit requirements and key FAQs.

Posted in Income Tax | 1 comments | 3036 Views

Income Tax Department Releases Central Action Plan 2026-27

14 May 2026 at 09:28

The Income Tax Department's Central Action Plan (CAP) 2026-27 introduces new tax collection targets, faster grievance redressal, appeal disposal timelines, improved taxpayer services and technology-driven tax administration under the IT Act, 2025

Posted in Income Tax | 1 comments | 3867 Views

Form 65: Documents, Eligibility and Benefits u/s 194 of Income Tax Act 2025

13 May 2026 at 09:43

The Income Tax Department has clarified the rules for Form 65 under the Income Tax Act 2025. Know eligibility, filing process, 10% concessional tax benefit on patent royalty income, documents required and 5-year lock-in conditions.

Posted in Income Tax | 1 comments | 3771 Views

CBDT Introduces Form 81 for Shipping Companies under Income Tax Act 2025

12 May 2026 at 09:21

CBDT’s new Form 81 under the Income-tax Rules 2026 replaces Form 66 for companies opting for the Tonnage Tax Scheme. Know applicability, reporting requirements, audit details, annexures and compliance obligations.

Posted in Income Tax | 1 comments | 3102 Views

CBDT Introduces Major Changes in APA Regime under Income Tax Rules 2026

11 May 2026 at 09:13

CBDT has revamped the Advance Pricing Agreement (APA) framework under Income Tax Rules 2026 with new Forms 51-54, standardised Rs 20 lakh filing fee, simplified compliance, rollback provisions and faster processing timelines. Check key changes.

Posted in Income Tax | 1 comments | 5757 Views