taxpayers

The Income-Tax Department is cracking down on fraudulent tax exemption claims, estimated at ₹700 crore, leading to potential refund delays, especially for claims over Rs 10 lakh. Discrepancies include fabricated medical expenses and false donations, primarily under the old tax framework.

ITR filing FY 2024-25 due day extension: taxpayers are reportedly facing persistent technical issues on the Income Tax e-filing portal even after the Finance Ministry extended the ITR filing deadline to September 16, 2025. Despite scheduled maintenance, users reported problems with submission, late fee reflections, and portal functionality.

The CBDT had extended the ITR filing deadline for individual taxpayers to September 16, 2025. Filing after this date incurs penalties, potentially up to Rs 5,000, and affects carry-forward benefits. taxpayers opting for the old regime must file by the deadline to claim deductions like HRA and LTA, otherwise new regime is the default option.

A technical glitch on the Income Tax department's website hindered numerous companies from meeting the September 15 advance tax payment deadline, potentially leading to penalties. Tax advisors have appealed to the CBDT and finance ministry for interest waivers on payments initiated before the deadline but delayed by the system error. Some firms may file writ petitions if relief isn't granted.

Amid a record surge in Income Tax Return (ITR) filings, the government extended the deadline for Assessment Year 2025-26 by a day, pushing it to September 16, 2025, as taxpayers reported portal access issues. Over 7.3 crore returns were filed by the original deadline.

The Income Tax Department refuted social media rumors of extending the ITR filing deadline beyond September 15, confirming it remains unchanged. taxpayers are urged to rely solely on the department's verified handle for updates. Over six crore ITRs have been filed for the Assessment Year 2025-26.

Following Elon Musk's cost-cutting measures, the General Services Administration (GSA) is recalling dismissed federal employees after significant disruptions. The downsizing, part of Musk's department of government efficiency (DOGE) initiative, led to understaffing and lease complications. Despite initial claims of substantial savings, the reversal highlights the strain on the GSA, with the Government Accountability Office now reviewing the agency's actions.

ITR filing FY 2024-25: In a welcome move for taxpayers, the Income Tax Department has further extended the deadline for filing Income Tax Returns (ITR) for the Assessment Year 2025-26. Originally due on July 31, 2025, and previously extended to September 15, 2025, the new deadline is now September 16, 2025.

taxpayers get an extension until September 15th to file income tax returns for the financial year 2024-25, specifically for those not requiring audits. Accurate filing requires cross-checking income details with Form 26AS and AIS. Essential documents include Form 16, capital gains statements, interest certificates, and proofs for tax-saving investments to ensure a smooth process.

Indian taxpayers, brace yourselves! The second advance tax installment for FY 2025-26 is due September 15th. If your tax liability exceeds Rs 10,000, pay up to avoid a 1% monthly interest penalty. Salaried individuals with additional income beyond TDS deductions, and others, should take note. Senior citizens are exempt under specific conditions.

A US court intervened to limit data sharing between the IRS and ICE. The IRS shared taxpayer data with ICE. This prompted legal action by businesses and unions. The court ordered a halt to data transfers without notice. The IRS must provide records for review. Concerns arise about taxpayer privacy and trust in the tax system.

The CBIC is planning to introduce a monetary limit for issuing GST demand notices to reduce unnecessary disputes and avoid notices on flimsy grounds. The board will release instructions to field formations, ensuring mentoring by senior officers. Efforts are underway to simplify the GST return process by automating filings, with feedback sought on GSTR-3B amendments.

The Income Tax Department announced it has received over six crore income tax returns for the Assessment Year 2025-26. The deadline for filing without penalty is September 15th. The department's helpdesk is available 24/7 to assist taxpayers. An extension was granted due to revisions in ITR forms. ITR submissions have been steadily increasing, with a record 7.