by Jagdeep Garhwal | Jul 25, 2026 | Income Tax
Filing taxes gets more transparent this year. The Central Board of Direct Taxes (CBDT) now shows foreign income and asset details in your Annual Information Statement (AIS). This move helps taxpayers see what the department already knows. As a result, filing an...
by Jagdeep Garhwal | Jul 17, 2026 | Income Tax
The Income Tax Department has confirmed an important update. OLTAS Challan Correction for Tax Year 26-27 will soon be available on TRACES 2.0. This news brings relief to many taxpayers and deductors. Until now, this correction facility was missing from the new...
by Jagdeep Garhwal | Jul 16, 2026 | Income Tax
The Income Tax Department has added a new feature to the Annual Information Statement (AIS). Taxpayers can now find “Foreign Assets Information” under AIS >> Reports. This update matters greatly for anyone holding assets outside India. Before filing...
by Jagdeep Garhwal | Jul 10, 2026 | General, Income Tax
Tax audits form the backbone of India’s compliance system. They protect the integrity of financial reporting. The Institute of Chartered Accountants of India (ICAI) plays a key role here. Through its Direct Taxes Committee (DTC), it issues guidance notes for...
by Jagdeep Garhwal | Jul 7, 2026 | Income Tax
Form 168 Income Tax: What It Means for Form 26AS Users The Income Tax e-Filing portal now shows two familiar-looking documents. One is Form 26AS, governed by the Income-tax Act, 1961. The other is Form 168, introduced under the Income Tax Act, 2025. Many taxpayers...
by Jagdeep Garhwal | Jul 1, 2026 | Income Tax
The Income Tax Department has rolled out seven important forms on the e-Filing Portal. Taxpayers, deductors, and banks can now access Forms 121, 138, 140, 143, 144, 147, and 148 online. This update is part of the broader renumbering exercise under the Income-tax...
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