Income-Tax Refunds Stuck for Months? Here’s How Much Interest You Could Be Owed If you’re still waiting for your income-tax refund—even after filing your return and getting the “refund due” message—you’re not alone. Many taxpayers are facing delays, and the good news is: under Section 244A of the Income‑tax Act, 1961 you may be eligible…
ITR Refund Status 2025: Delays Due to ‘Red-Flagged’ Claims, Says CBDT Chairman Many taxpayers checking their ITR Refund Status 2025 are noticing unexpected delays. The Central Board of Direct Taxes (CBDT) has now clarified the key reason behind this slowdown. According to the CBDT Chairman, the system has red-flagged several refund claims due to discrepancies,…
Govt to Notify New ITR Forms & Income Tax Act 2025 Rules by January 2026: CBDT Chief Big news for taxpayers—India’s government plans to roll out new Income Tax Return (ITR) forms and rules for the Income Tax Act 2025 by January 2026. The CBDT Chief says these changes will push the tax system toward…
Taxpayers Lose Their Refunds If They File a Belated ITR in 2025–26? Here’s What Was Found In the 2025–26 assessment year, questions have been raised about whether taxpayers may lose their income tax refunds if their ITR is filed after the due date. With changing compliance rules and stricter timelines, a renewed focus has been…
Tax Audit Deadline Not Extended for These Taxpayers: Karnataka CA Body Flags Anomalies in CBDT Circular When the Central Board of Direct Taxes (CBDT) announced its latest extension for tax audit reports and ITR filings, everyone thought the relief would be straightforward. But the Karnataka State Chartered Accountants Association (KSCAA) quickly flagged a problem. They…
Actual Reasons Behind ITR Refund Delays: When Will Your Money Arrive? You filed your Income Tax Return on time and you’re still waiting for the refund to show up. Frustrating, right? You’re definitely not alone. Every year, tons of people sit tight, checking their accounts and hoping for that credit. The thing is, most refund…
MCA Extends Due Date for Filing e-Forms till 31st December 2025 for FY 2024-25 The Ministry of Finance just gave businesses and compliance professionals some breathing room by pushing the deadline for key e-Forms under MCA-21 Version 3. Now, everyone has until December 31, 2025, to file forms like MGT-7, MGT-7A, AOC-4 (and its various…
Tax Audit Extension Update: High Courts Grant More Time — All Eyes on CBDT’s Next Move Taxpayers and professionals just got some much-needed breathing room. Both the Punjab & Haryana High Court and the Himachal Pradesh High Court have given more time for tax audit and return filings. For thousands of chartered accountants and businesses,…
New Income Tax Act, 2025: India Prepares for a Simplified and Modern Tax Era Big changes are coming to India’s tax system. The Central Board of Direct Taxes (CBDT) is getting ready to launch the New Income Tax Act, 2025, which kicks in on April 1, 2026. The government wants to make taxes simpler, cut…
The CBDT has brought a significant change for Indian taxpayers the introduction of AIS 2.0 (Annual Information Statement). The update is aimed at making tax compliance easier, correct, and transparent for individuals, companies, and consultants alike. As tax practitioners, we at Taxflick think this is a positive step towards minimizing tax mismatches, return filing errors,…