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Tax

Financial planners say investors should focus on post-tax returns, not just headline yields, as taxes, exemptions and TDS can significantly affect actual gains.
Updated : Jun 26, 2026

How your investments are taxed in 2026-27: ITR filing guide for stocks, FDs, gold, mutual funds

Tax rules vary widely across stocks, mutual funds, fixed deposits, gold and bonds, making it essential for investors to understand how their investments are taxed before filing their income tax returns. Here's a quick guide to the capital gains tax, holding periods and key rules applicable to popular investment options for ITR filing.

TDS on salary is governed by Section 192 of the Income Tax Act. Employers are required to deduct tax from salaries and deposit it with the government within prescribed timelines.
Updated : Jun 26, 2026

Employer deducted but didn't deposit TDS? ITAT grants ₹3.91 lakh credit, scraps ₹3.12 lakh tax demand

A recent ITAT ruling has brought relief to salaried taxpayers by holding that employees cannot be asked to pay tax again if their employer deducted TDS but failed to deposit it with the government. The tribunal granted ₹3.91 lakh TDS credit to an employee and quashed a ₹3.12 lakh tax demand, reaffirming the protection available under Section 205 of the Income Tax Act.

Indian professionals have experimented with using AI tools to file their income tax
Updated : Jun 25, 2026

‘Felt like a CA sitting next to me’: Check how professional uses Claude AI to file ITR-1

A LinkedIn post by information security specialist Uddeshya Kumar has gone viral after he detailed how he used Anthropic’s Claude AI desktop application to complete his ITR-1 filing process

Whenever taxpayers pay income tax online, a challan is generated containing key information such as the assessment year, tax category and payment type.
Updated : Jun 24, 2026

ITR filing 2026: Made a tax payment error? Here's how the new challan correction system works

The Income Tax Department has introduced a new online facility allowing taxpayers to correct certain errors in tax payment challans directly through the e-Filing portal. The move is expected to reduce tax credit mismatches, speed up refunds and simplify ITR filing for AY 2026-27.

Section 87A of the Income Tax Act provides a tax rebate to resident individuals whose total income does not exceed ₹5 lakh under the old tax regime or ₹12 lakh under the new tax regime for FY2025-26.
Updated : Jun 23, 2026

No Section 80C, no HRA? Here's how salaried employees can save tax under New Tax Regime

The new tax regime has done away with popular deductions such as Section 80C investments and House Rent Allowance (HRA), leaving many salaried taxpayers wondering how to reduce their tax outgo. However, several exemptions and employer-linked benefits continue to offer meaningful tax-saving opportunities.

EPFO subscribers may be allowed to withdraw 50-75% of their accumulated corpus through UPI or UPI-enabled ATMs.
Updated : Jun 22, 2026

EPFO 3.0 may enable UPI withdrawals soon, but how will PF withdrawals be taxed?

EPFO subscribers may soon be able to withdraw provident fund money instantly through UPI and ATMs under the upcoming EPFO 3.0 platform. However, the new digital facility does not change the existing tax rules governing EPF withdrawals.

Large language models can occasionally generate incorrect information, misinterpret tax provisions, or rely on outdated rules.
Updated : Jun 21, 2026

Using ChatGPT or Claude to file your IT return? STOP & read this before you hit submit

While users are praising these tools for simplifying complex tax processes, experts caution that convenience should not come at the cost of accuracy, privacy, and compliance. 

Every employer who pays salary and deducts TDS is required to issue Form 16 for the period during which the employee worked with the company.
Updated : Jun 20, 2026

Switched jobs during FY26? Here's how to file ITR with multiple Form 16s and avoid tax notices

Changing jobs during FY 2025-26 could make Income Tax Return (ITR) filing a bit more complicated, especially if you have received more than one Form 16. Tax experts say taxpayers should carefully consolidate salary and TDS details from all employers to avoid errors and unexpected tax demands.

ITR-3 is meant for individual taxpayers and Hindu Undivided Families (HUFs) earning income from business or profession and who are required to maintain detailed books of accounts.
Updated : Jun 19, 2026

ITR-3 excel utility now available on income tax portal; Here's how taxpayers can use it

The Income Tax Department has enabled the Excel Utility for ITR-3 on its e-filing portal for AY 2026-27, allowing taxpayers with business or professional income to prepare their returns offline. The move follows the earlier release of utilities for ITR-1, ITR-2 and ITR-4 and comes ahead of the August 31 filing deadline for ITR-3 users.

Taxpayers who miss the original deadline can still file a belated return until December 31, 2026. If an error is discovered in a return already filed, a revised return can be submitted by March 31, 2027.
Updated : Jun 18, 2026

Income tax return calendar for AY 2026-27: July 31 is not the deadline for everyone; check key due dates

The ITR filing calendar for AY 2026-27 has changed, and July 31 is no longer the deadline for every taxpayer. Different due dates now apply to salaried individuals, professionals, businesses and taxpayers requiring audits.

Form 16 serves as the basis for reporting salary income, therefore, taxpayers should carefully review the document before submitting their returns.
Updated : Jun 18, 2026

Got your Form 16 for ITR filing? CA warns high earners against this costly mistake

Received your Form 16 and planning to file your ITR right away? Chartered accountant Nitin Kaushik cautions salaried taxpayers that relying solely on Form 16 could lead to tax demands, interest charges and notices from the Income Tax Department.

In the case of ELSS, long-term capital gains (LTCG) exceeding ₹1.25 lakh in a financial year are taxed at 12.5%. For ULIPs, the tax treatment depends on the premium amount and the date on which the policy was issued.
Updated : Jun 18, 2026

ULIP vs ELSS: Which tax-saving investment offers better returns, liquidity, tax efficiency?

Both ULIPs and ELSS offer tax deductions under Section 80C, but they differ sharply in terms of returns, lock-in periods, charges and taxation. With Budget 2025 changing the tax treatment of certain ULIPs, investors may want to reassess which option offers better tax efficiency and liquidity.

A defective return can have serious consequences. If not corrected within the prescribed time, it may be treated as invalid, affecting tax compliance and other benefits.
Updated : Jun 17, 2026

New ITR-3 rules for F&O traders: Leave these columns blank and risk a defective return

Futures and options (F&O) traders filing ITR-3 for AY 2026-27 will have to disclose their derivative turnover and income separately under new columns introduced by the CBDT. Tax experts warn that failing to furnish these details could result in the return being treated as defective.

ITR-1 and ITR-2 filers will continue to have July 31 as the deadline, while non-audit business and professional taxpayers filing ITR-3 to ITR-7 will now have until August 31, 2026.
Updated : Jun 17, 2026

ITR due dates, revised returns and audit penalties: 3 big tax changes from AY 2026-27

Tax calendar: The new compliance calendar stretches the return filing season across four months, introduces hefty penalties for delayed audit reports and makes post-filing corrections more expensive.

Under the new tax regime, incomes up to ₹12 lakh attract zero tax through the Section 87A rebate. For salaried individuals, the ₹75,000 standard deduction raises the zero-tax threshold to ₹12.75 lakh.
Updated : Jun 16, 2026

₹12.75 lakh tax-free under new regime. How to make nearly ₹14.80 lakh income tax-free 

The effective tax-free income threshold for salaried individuals under the new tax regime has climbed to ₹12.75 lakh in FY2026-27, up sharply from ₹2 lakh earlier. With smart salary structuring and employer contributions, experts say even a ₹14.80 lakh CTC can result in zero tax liability.

Taxpayers with recurring additions of ₹50 lakh in metros and ₹20 lakh in non-metros may face mandatory scrutiny if such additions have been upheld or become final.
Updated : Jun 15, 2026

Income tax scrutiny in FY27: CBDT lists 6 cases that could put your ITR under scanner

The Central Board of Direct Taxes (CBDT) has identified six categories of taxpayers whose returns will be compulsorily selected for complete scrutiny in FY2026-27. From search and survey cases to recurring tax disputes and intelligence inputs, the new guidelines spell out who could come under the tax department's scanner.

ITR-U is a special return filing mechanism that enables taxpayers to rectify omissions or inaccuracies in previously filed returns or to file returns for years they had completely missed.
Updated : Jun 14, 2026

Missed filing ITR for last few years? Here's how ITR-U can help you avoid bigger penalties

Taxpayers who missed filing income tax returns for previous years still have an opportunity to regularise their records through the Updated Income Tax Return (ITR-U) mechanism. With Budget 2026 easing certain rules, filing voluntarily could help avoid bigger penalties and future tax disputes.

While Form 26AS and AIS are important documents, they may not always contain complete income details.
Updated : Jun 13, 2026

ITR filing mistakes: Mismatch in Form 26AS and AIS can trigger tax notices for you; what do next

A mismatch between the details in Form 26AS, the Annual Information Statement (AIS) and the figures reported in your income tax return can lead to tax demands, reduced refunds and even notices from the Income Tax Department. Experts say taxpayers should carefully reconcile these statements with Form 16, salary slips and bank records before filing their ITR.

For senior citizens, age itself does not determine the ITR form. The deciding factor is the source of income.
Updated : Jun 12, 2026

ITR filing 2026 guide for senior citizens: Which form should you choose for parents and who can skip filing?

Senior citizens need not choose an ITR form based solely on age. For AY 2026-27, the correct return form depends on the source and complexity of income, while some taxpayers aged 75 and above may not have to file a return at all.

Form 16 is a TDS certificate issued by employers that summarizes salary income and tax deducted during a financial year. It is divided into two sections—Part A and Part B.
Updated : Jun 12, 2026

No Form 16? You can still file your ITR. Here's a step-by-step guide

Didn't receive your Form 16 from your employer? Taxpayers can still file their Income Tax Return using documents such as salary slips, Form 26AS, AIS and bank statements, provided they carefully calculate income and deductions.

For salaried individuals with limited deductions and investments, the new regime's lower tax rates and higher rebate may result in greater savings.
Updated : Jun 12, 2026

Old vs New Tax Regime for FY 2025-26: How exemptions and deductions work for taxpayers under both systems

Choosing between the old and new tax regimes for FY 2025-26 is not just about tax slabs but also about the exemptions and deductions available under each system. While the new regime offers lower tax rates and zero tax on income up to ₹12 lakh, the old regime continues to benefit taxpayers who claim deductions such as HRA, Section 80C and home loan interest.

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