Tax-exempt organizations on a calendar year (Jan 1 to Dec 31) have till tomorrow, i.e., May 15, 2026, to file Form 990-series returns or request a 6-month extension to avoid penalties. FAYETTEVILLE, ...
New income tax reforms has taken effect on April 1, 2026. The Income Tax Department has introduced sweepingchanges to the ...
The Income-Tax department can issue notices for discrepancies in tax returns. A notice doesn't imply trouble but may require ...
Tax-exempt organizations on a calendar year (Jan 1 to Dec 31) have till tomorrow, i.e., May 15, 2026, to file Form 990-series returns or request a 6-month extension to avoid penalties. FAYETTEVILLE, A ...
Consequences of non-filing: There is no statutory penalty merely for not filing Form 121. However, non-submission may lead to ...
The government has revamped ITR-1 to ITR-4 forms, simplifying capital gains reporting while expanding disclosures on property, donations, investments, political contributions and businesses.
The article explains how procedural lapses in trust registration renewal can activate Section 115TD and impose heavy tax on ...
The ITAT Kolkata held that delayed filing of Form No. 67 is only a procedural defect and cannot deprive an assessee of Foreign Tax Credit under Section 90 and the India-USA ...
1098-T: Form 1098-T can help you calculate and claim educational tax credits and deductions. It reports payments received for ...
Key tax-planning considerations for individuals who are ceasing to be Canadian residents, based on current Canadian income ...
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Switching tax regimes? Key things salaried employees must know before choosing between old and new
Salaried employees can choose between old and new income tax regimes, while the new tax regime remains the default option.
The broader message from the revised ITR-3 framework is tax reporting is becoming more data-linked, automated, and ...
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