by Jagdeep Garhwal | Jul 31, 2026 | Income Tax
The Central Board of Direct Taxes (CBDT) has rolled out a new tax return form. It is called ITR-BN. This form applies to taxpayers facing block assessment proceedings. These proceedings arise from search and seizure actions. Consequently, taxpayers under...
by Jagdeep Garhwal | Jul 25, 2026 | Income Tax
Losing a parent brings emotional strain, and paperwork often adds to it. Filing their final income tax return is one such task. Fortunately, the process follows clear steps, and a legal heir can complete it smoothly. Who Can File the Return Under Section 159 of the...
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...
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