Income Tax Department Cracks Down on Refund Mismatches, Issues Surge of Alerts to Taxpayers Lately, the Income Tax Department has really ramped up its checks on refund mismatches, and a lot of people across India are suddenly getting alerts and notices. The idea is simple—stop bogus refund claims and make tax filing more transparent. So,…
Income Tax Update: Will the I-T Department Release New ITR Forms by January 2026? With the 2025–26 financial year on the horizon, everyone’s watching to see when the Income Tax Department will drop the new ITR forms. If the department releases them early—say, by January 2026—it reduces a lot of pressure. People and businesses get…
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…
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…
GST Revenues Still Trail Pre-GST Levels Despite Structural Reform ndia rolled out the Goods and Services Tax (GST) with big promises—make taxes simpler, get more people to pay up, and bring in more money. But here’s the thing: even after all these years, GST revenue as a share of GDP still hasn’t caught up to…
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,…