The Income Tax Act, 2025 replaces the old 1961 law from April 2026, streamlining compliance, revising deadlines, rationalising STT and TCS and introducing key relief measures for taxpayers.
The Income Tax Department has enabled online filing of ITR-5 and ITR-7 forms for Assessment Year (AY) 2025–26. Both forms are now available on the official e-filing portal with pre-filled data to make ...
Each taxpayer is supposed to file their income tax return within the time prescribed under section 139(1)/139(4) of the Income Tax Act. However, it may be possible due to any genuine hardship or ...
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