AY 2025 26
Father and son jointly sell ancestral land for Rs 13 crore; father gets tax notice; they file appeal in ITAT Pune and win case
A father and son sold ancestral land for Rs 13 crore, but the buyer's TDS error led to a tax notice for the father. The ITAT Pune ruled in their favor, stating procedural lapses shouldn't deny substantive rights. The father was granted full TDS credit, preventing the revenue from unjustly enriching itself. Read more.
As Gujarat High Court orders to extend ITR filing due date for audit cases, here are the key takeaways from case
The Gujarat High Court has directed the Central Board of Direct Taxes to extend the Income Tax return filing deadline for audit cases. It has asked to extend the deadline to November 30, 2025. This decision follows a case filed by the Income Tax Bar Association. In its order, the Gujarat High Court emphasised the statutory link between audit report and return filing dates.
CBDT extends due date for filing income tax audit report for FY 2024-25 to October 31, 2025 from September 30, 2025
Tax audit last date extension: The CBDT has extended the deadline for filing various audit reports for the Previous Year 2024-25 (Assessment Year 2025-26) from September 30, 2025, to October 31, 2025, for specific assessees. This decision follows representations from professional associations citing difficulties due to floods and natural calamities, despite the Income-tax e-filing portal operating smoothly.
Who needs to file income tax audit report for AY 2025-26?
For AY 2025-26, businesses exceeding turnover limits and certain professionals must file tax audit reports by September 30, 2025, potentially facing penalties for delays. The Bombay Chartered Accountants’ Society has requested an extension due to challenges like delayed utility releases and systemic portal issues, impacting compliance quality and deadlines.
Demand for extension of due date of tax audit report and ITR filing is getting wider with many tax bodies writing to finance minister and PMO
The Karnataka State Chartered Accountants Association (KSCAA) has appealed to the PMO, highlighting critical issues with the Income Tax e-filing portal. They cite delayed form releases, persistent glitches, and a non-functional helpline, causing significant stress and financial burden for taxpayers and professionals. Read more about tax audit due date extension.
CA files wrong ITR, man gets Rs 85,000 demand notice instead of refund. Here's what happened
A taxpayer faced issues due to an incorrectly filed Income Tax Return by their Chartered Accountant. Despite refiling with a new CA and informing the Income Tax Department, they received a tax demand of ₹85,000. Experts advise rectification, appeal, and professional consultation. ITR filing deadlines were extended due to form revisions. Filing numbers show a 7.
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Higher EPS pension for EPF members allowed by Punjab & Haryana High Court for pre-2014 retired employees with these three conditions
The Punjab & Haryana High Court has ruled that certain employees who retired before September 1, 2014, may still be eligible for higher pensions. This ruling applies to those who didn't exercise the joint option earlier, provided their employers contributed to the pension fund, they were pension fund members, and they didn't voluntarily exit the fund.
ITR-5 and ITR-7 forms enabled for online filing: Who should file these income tax forms? What are their deadlines?
The Income Tax Department has activated online filing for ITR-5 and ITR-7 forms, pre-filled with data, on its official website. ITR-5 and ITR-7 forms are meant for specific categories of taxpayers and not for individuals or Hindu Undivided Families (HUFs).
Top five changes in income tax audit form 3CD for AY 2025-26; Check details
The CBDT has announced changes to Form 3CD, applicable for FY 2024-25, impacting tax audit reporting. Key changes include revised reporting for MSME payments, new requirements for share buybacks, and disallowed expenses for legal settlements. Coded reporting for loans and inclusion of presumptive income for cruise ships are also introduced, aiming for greater compliance.
Unfair to charge Rs 29 lakh penalty for advance tax filing delay due to system glitches, CA writes to Finance Minister
A Delhi-based chartered accountant tweeted that his client incurred a loss of Rs 29.10 lakh due to glitches on the Income Tax Department portal, leading to a delayed advance tax payment. Despite multiple attempts before the deadline, the client was charged 3% interest. The CA has requested Finance Minister Nirmala Sitharaman to ensure that no taxpayer is penalised because of system inefficiencies.
Extend income tax audit deadline due to ITR portal glitch, AIS errors, new ICAI enhanced reporting needs: Nagpur Chamber of Commerce
Nagpur Chamber of Commerce urges the Central Board of Direct Taxes for tax audit deadline extension. They request pushing it to November 30, 2025, citing ITR portal glitches and form delays. Kailash Jogani emphasizes timely action to avoid trader hardship. The chamber highlights delayed form availability and portal issues. They also mention overlapping deadlines and potential for errors.
ITR filing after due date: Do you need to pay a late fee even if you have nil tax liability?
Taxpayers filing belated ITRs after the deadline of September 16, 2025, may face late fees, even with no tax liability under the new regime. As per the rule, if your total income is above the basic exemption limit, you must file your return within the due date. If you miss it, a late fee under Section 234F will apply — ₹1,000 if income is up to ₹5 lakh, and ₹5,000, if it is more than ₹5 lakh.
Did you make a mistake in filing ITR in a hurry on September 16? Here's how to correct it
Taxpayers who filed Income Tax Returns with errors have options. If the ITR isn't e-verified, it can be discarded and refiled. After e-verification, a revised return under Section 139(5) is necessary. The revision window closes on December 31, 2025. The one-day deadline extension helps those awaiting challan generation. Taxpayers can check challan status and file accurately.
ITR can still be filed after September 16, 2025 with payment of late fee and losing some benefits
Individuals had until September 16 2025, to file their income tax returns. Filing after this date incurs penalties and limitations, including late fees and potential loss of certain deductions. Choosing the old tax regime requires filing by the original deadline. No HRA tax deduction, EPF 80C deduction, LTA claims deduction if ITR is not filed on or before September 15, 2025.
Can I still file my ITR if I miss September 16, 2025 income tax return filing deadline?
ITR filing deadline: The Income Tax Department has extended the ITR filing deadline to September 16, 2025. Taxpayers missing this date can file a belated return until December 31, 2025, with a late fee.
Less than 10 hours remain to file ITR without penalty: One last chance to opt old tax regime and fix mistakes made in ITR
The income tax return (ITR) filing deadline has been extended to September 16, 2025, offering taxpayers a chance to correct errors. Taxpayers can rectify mistakes by using options like editing, discarding, or filing a revised ITR depending on their filing status. However, belated ITR filers cannot switch between old and new tax regimes.
Good news: Income tax return filing due date extended again by tax dept
ITR Filing Last Date Extended: The Ministry of Finance has extended the ITR filing due date again to September 16, 2025. While initially the ITR filing deadline was set for July 31, 2025, and then extended to September 15, 2025. However, since the last few days there were several issues with the income tax e-filing portal.
Errors in ITR filing: Users report AIS, portal login, e-payment of tax errors; here's how to fix them
Chartered accountants are facing difficulties accessing the ITR e-filing portal, particularly during peak hours, leading to frustration and workarounds. Issues include slow performance, problems with AIS downloads, OTP verification, and technical glitches in specific utility areas. Tax professionals suggest trying alternative browsers, clearing cache, and accessing the portal during off-peak hours to mitigate these problems.
Advance tax deadline September 15, 2025: How much penal interest you need to pay if you miss due date
Taxpayers with liabilities exceeding Rs 10,000 must pay advance tax in quarterly instalments. The Q2 deadline for FY 25-26 is September 15, 2025. Penalties apply for late payments under Sections 234B and 234C, with exceptions for underestimated income from capital assets, gambling, or new businesses if taxes are paid promptly.
Got HRA, home loan interest tax exemption via employer? Missing ITR deadline can cost you very heavily in tax, interest
Missing ITR deadline: Taxpayers who opted for the Old Tax Regime (OTR) for FY2024-25 and claimed exemptions like HRA and Section 80C through their employer must file their ITR by September 15, 2025.
ITR filing last date FY 24-25: Has income tax return filing deadline been further extended to September 30, 2025?
Income Tax Return Filing Due Date News: A notice circulating online on Sunday added more confusion to it, as it was referring to a press release from the Ministry of Finance, saying that the ITR filing deadline has been extended to September 30, 2025.
Income Tax law for senior citizens and super senior citizens: What’s new for AY 2025-26
The Income Tax Department has provided details on tax rules for senior and super senior citizens. For assessment years 2025-26 and 2026-27, they can choose between old and new tax regimes. The old regime offers exemptions, while the new regime has lower rates but fewer deductions. Form 15H can be submitted for no TDS on FD. Read more.
Last 2 days left for ITR filing; Step-by-step guide on how to file ITR 1, 2 for free on e-filing ITR portal
With the ITR filing deadline approaching on September 15, 2025, individuals need to file their income tax returns promptly to avoid late fees. The article provides step-by-step guides for filing ITR-1 online and ITR-2 using the Excel utility. It also outlines who needs to file ITR-2, including those with income from salary, capital gains, or unlisted equity shares.
No income tax for gifts received by individuals in these seven situations
The Income Tax Department explained the tax implications of monetary gifts for individuals and HUFs, referencing Section 56(2)(x) of the Income Tax Act. Gifts from relatives, inheritances, and those received at the time of marriage are generally exempt. However, gifts from friends exceeding Rs 50,000 annually are taxable, and proper ITR reporting is crucial.
Income tax return filing deadline 2025: Now even BJP MPs write to Finance Minister to extend ITR filing due date
Income Tax Return Filing: With the ITR filing deadline approaching, tax professional bodies and BJP MPs are urging the Finance Ministry to extend due dates. They cite delayed form releases, technical glitches, natural calamities in Odisha, and new financial statement formats as key challenges. Extensions are requested to alleviate taxpayer burden and ensure accurate filing amidst various compliance pressures.
Online ITR filing charges across popular websites for AY 2025-26
There are several third-party websites that provide ITR filing services for payment of a fee. While filing on the government portal is free, using the services of CAs or specialised tax filing websites usually comes with a fee. Read more to know more about how much fee you need to pay for filing ITR through these private portals.
What if you fail to file ITR by due date September 15, 2025? You should be ready to pay late fee, delayed refund, and scrutiny
The Income Tax Return (ITR) filing deadline is September 15, 2025. Missing it results in a late fee. Belated ITR filing is allowed until December 31, 2025. However, failing to file can lead to legal issues. Late filing also means interest on tax dues and delayed refunds. Taxpayers cannot switch tax regimes when filing a belated ITR.
FD rate up to 8.25% for senior citizens investing for three years; Know the full list of banks
Several banks are offering high fixed deposit rates for senior citizens. If a senior citizen’s total income is Rs 12 lakh under the new tax regime in AY 2026-27, and the tax liability computed after considering the eligible rebate under Section 87A tax rebate is ‘Nil’, he can submit Form 15H so that no TDS is deducted on interest on fixed deposits (FD).
Why hasn't my income tax refund come as yet? When to expect ITR refund FY24-25 and how to track it?
ITR Filing Last Date: Many taxpayers are facing delays in receiving their income tax refunds due to various reasons, including incorrect bank details, unvalidated accounts, or a PAN not linked with Aadhaar. Refunds are typically processed within 2 to 5 weeks after e-verification, but larger refunds may undergo additional scrutiny.
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