10 Changes in ITR Filing in AY 2026-27 You Need to Know Before You File Your ITR
10 Changes in ITR Filing in AY 2026-27 You Need to Know Before You File Your ITR A record 7.28 crore taxpayers filed their income tax returns by July 31, 2024, a jump from 6.77 crore the year before (PIB/CBDT, 2024). That number will likely climb again this year, and for good reason: the government has made some meaningful changes to the ITR filing process for AY 2026-27. Some of these changes make things easier. Others add new compliance requirements. A [...]
Transfer of Rectification Rights to Jurisdictional AO Notification: What Taxpayers Should Know
Transfer of Rectification Rights to Jurisdictional AO for AY 2022-23: What Taxpayers Should Know Recently, several taxpayers have received official communications from the Income Tax Department regarding a significant procedural change: the transfer of rectification rights for Assessment Year (AY) 2022–23 from the Centralized Processing Centre (CPC), Bengaluru to the Jurisdictional Assessing Officer (JAO). This change has raised questions among assessees, particularly those who have filed rectification requests under Section 154 of the Income Tax Act. Here is a [...]
Section 154 of Income Tax: How to Rectify Mistakes in Your ITR Effectively
A Complete Guide to Section 154 of Income Tax Act: Rectification of Mistakes in ITR Filing your Income Tax Return (ITR) accurately is crucial, but what if you or the Income Tax Department spot an error after processing? That’s where Section 154 of Income Tax Act comes into play. This provision empowers taxpayers and the Assessing Officer (AO) to correct mistakes in income tax records, ensuring fair and error-free assessments. This article explains Section 154 in simple terms, covering [...]
Income Tax Notice Reply Format: How to Draft an Effective Response to Avoid Penalties
Income Tax Notice Reply Format: How to Draft an Effective Response Receiving an income tax notice from the Income Tax Department can be stressful, especially if you're unsure about the next steps. Whether it’s a notice under Section 139(9), 142(1), 143(1), 143(2), or 245, your first response should be calm and well-informed. Knowing how to reply appropriately is crucial to avoid penalties, reassessment, or unnecessary scrutiny. This article explains the income tax notice reply format, outlines common notice types, [...]
Section 133(6) of Income Tax Act: Power to Call for Information Explained
Section 133(6) of Income Tax Act: Power to Call for Information Explained In today’s data-driven tax ecosystem, the Income Tax Department leverages multiple sources of information to ensure accuracy and transparency in tax reporting. Section 133(6) of the Income Tax Act, 1961, is one such powerful tool that enables tax authorities to collect relevant information from various individuals and institutions even if they are not directly subject to tax proceedings. If you or your business has received a notice [...]
Section 144B of Income Tax Act: Faceless Assessment Scheme Explained
Section 144B of Income Tax Act: Understanding the Faceless Assessment Scheme In an effort to improve transparency and reduce direct contact between taxpayers and tax authorities, the Income Tax Department introduced Section 144B of the Income Tax Act. This section forms the backbone of the Faceless Assessment Scheme, which aims to simplify and digitize the assessment process. If you’ve received a notice or communication under Section 144B, or simply want to understand how it affects your tax filings, this [...]
