Income Tax Department

Income tax refund: Your refund may be delayed if revised return not filed by December 31, 2025 deadline – here’s why

The December 31, 2025 deadline is significant as it marks the last date for filing both revised and belated income tax returns. (AI image) Income tax refund status: The Income Tax Department has stepped up scrutiny for tax returns and several taxpayers have not received their income tax refunds this year. The delay in tax […]

Income Tax department imposes Rs 2.2 lakh penalty on retired government employee for gratuity tax exemption claim – here’s how she won case in ITAT

The Cochin Income Tax Appellate Tribunal’s analysis centres on the taxpayer’s disclosure compliance. (AI image) While filing your income tax return and claiming tax exemptions, it is important to be aware of the limits and applicability. In one such case where the taxpayer was mistaken about the amount of tax exemption available to her for […]

I-T drive to target tax evasion in joint deals | India News

NEW DELHI: The income tax department is set to launch a drive to nudge people who entered into joint development agreements, but didn’t pay capital gains, to deposit the requisite tax. In Kolkata and Bengaluru alone, there are 25,000 to 30,000 such entities have been identified, said sources.Joint development agreements — a deal between real […]

ITR filing FY 2024-25: ITR-2 online filing now live on Income Tax portal; check details

ITR filing: The Income Tax Return (ITR) filing deadline for FY 2024-25, assessment year 2025-26 is September 15, 2025. ITR filing FY 2024-25: The Income Tax Department has opened the online e-filing of ITR-2 on the Income Tax Portal incometax.gov.in/iec/foportal/. The online submission system for Form ITR-2 was opened on July 18, 2025. This development […]