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Delhi High Court has held that ignorance of tax laws, lack of awareness of deductions, or general assertions of hardship do not constitute “genuine hardship”. (AI image) In a significant ruling on the scope of condonation powers under the Income Tax Act, the Delhi High Court has held that ignorance of tax laws, lack of…
Representative image (AI-generated) The Income Tax Department on Tuesday issued a press release clarifying why several taxpayers have received emails and SMS alerts seeking a review of their tax deduction and exemption claims.The department urged taxpayers to review their deduction and exemption claims for the current assessment year and take corrective steps before the revised…
It’s the fourth week of December. It is the last and final chance to look at your financial to-do list for 2025.A pension scheme you picked years ago pops up with a deadline. A tax return you meant to revise “next weekend” is now starting on December 31. And in the background, PAN-Aadhaar compliance still…
The Income tax department on Wednesday extended the due date for filing income tax returns for AY 2025-26 for corporates and taxpayers requiring audit reports to December 10, 2025, according to a notification issued by the central board of direct taxes.According to an official notification issued by the CBDT, “The due date of furnishing the…
