Receiving an income tax notice can feel stressful, but in many cases, it is simply a communication from the Income Tax Department seeking clarification, additional information, or correction of discrepancies in your tax return. An income tax notice does not automatically mean that you have committed tax fraud or made a serious mistake. Understanding the… Continue reading How to Respond to Income Tax Notice in India: A Complete Guide for Taxpayers
What Taxpayers Should Know The Income Tax Department has recently notified updated ITR Forms 1 and 4 for Assessment Year (AY) 2026-27, relevant to Financial Year (FY) 2025-26. The revised forms introduce several important compliance and disclosure-related changes aimed at improving transparency, widening reporting requirements, and simplifying return filing for certain categories of taxpayers. Here… Continue reading Key Changes in ITR Forms for AY 2026-27: What Taxpayers Must Know
Section 147 empowers the Income Tax Department to reassess the income of a taxpayer if the Assessing Officer (AO) believes that income chargeable to tax has escaped assessment for any previous year. When can Section 147 be invoked? The AO must have “reason to believe” that income has escaped assessment. Common reasons: Non-filing of return… Continue reading Section 147 – Income Escaping Assessment (Reassessment)
We have launched a range of Chartered Accountants Services for families along with a complete income tax filing product suite covering ITR-1 to ITR-7. With the launch of our families division, we aim to help millions of Indians with financial literacy, compliance and investment.
Enquiry Now
