Tax Guru

How Government Knows Your Income Even Before You File Your ITR?

AIS and 26AS collect and consolidate data from banks, employers, brokers, and property registrars. Filing an ITR simply confirms pre-existing financial records, making unreported income easily ...

Your wrong tax refund claim can raise a red flag leading to tax notices and even jail in case of under-reporting of income; here’s how to avoid it

Employees who attempt to cheat the system with bogus tax deductions risk facing severe repercussions. The Income-Tax ...

Income Tax refund wait: Refund stuck for months? How much interest you may be owed as error checks slow payouts

Many taxpayers are still awaiting income tax refunds due to increased scrutiny of deduction claims. The CBDT is working to release remaining refunds, ...

CGAS explained for property sellers: Latest changes and how they reduce your tax

CGAS is especially beneficial for sellers of property as they can deposit their unutilised capital gains for up to three ...
Tax Guru

Delay in Filing Form 10B Attributable to CA Oversight Condoned by Bombay HC

The Court quashed the order rejecting the condonation of delay, emphasizing that human error and professional reliance justify acceptance of late audit ...