Excessive tax deductions trigger audits when claims are disproportionate to income, lack documentation, or mismatch AIS data. Taxpayers face scrutiny if claims are ...

A summary of ITAT Chennai's order in Shanmugasundaram Venkatachalapathy Vs ITO, which sustained both unexplained investment under Section 69 and professional receipts found via Form 26AS but not ...

Post Office investments have diverse tax implications, with interest on some schemes being taxable. Crucially, new TDS ...

Income Tax Department notices are routine and need not be a cause for concern. Understanding the reasons and acting on them ...

The Income Tax Department has fixed March 31, 2026, as the last date to file TDS/TCS correction statements for FY 2018-19 Q4 ...

With every Budget, the government has tried to make the tax process simpler, more digital, and less prone to disputes. Now, from April 1, 2026, India is set for one of its largest reforms in the Tax ...

Americans received a glimmer of financial relief last week when the Federal Reserve cut rates for the first time this year, and indicated more cuts could be on the horizon. In just a few weeks, there ...

Claiming too many tax deductions? Learn how excessive or mismatched claims in ITR trigger income tax scrutiny, audits, ...

The I-T department is allowed up to nine months from the end of the financial year in which the return is filed to process refund ...

Some workers who rely on tips will soon be able to deduct $25,000 from their income tax. Which jobs are eligible?

The IRS will raise 2026 tax brackets to account for inflation, boosting take-home pay for millions. Here's what it means for ...

The IT department urges taxpayers to verify information on discrepancies and check emails regularly for any notifications if ...