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Is Your TDS Missing in Form 26AS? Verify Before Filing Your ITR!

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Every year, millions of taxpayers file their Income Tax Returns (ITRs) expecting a smooth processing of their returns and timely refunds. However, one of the most common reasons for delays, notices, and refund issues is missing or incorrect Tax Deducted at Source (TDS) details in Form 26AS . Before submitting your Income Tax Return for Assessment Year 2026-27 , it is essential to verify that every TDS deduction made by your employer, bank, tenant, customer, or any other deductor is correctly reflected in Form 26AS . A few minutes spent reviewing this statement can help you avoid unnecessary tax disputes and ensure that you receive the full tax credit you deserve. What is Form 26AS? Form 26AS is an important tax statement linked to your PAN. It provides a consolidated record of tax-related information available with the Income Tax Department. The statement generally includes details such as: Tax Deducted at Source (TDS) Tax Collected at Source (TCS) Advance Tax payments Self-Assessment ...
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ITR Filing Due Dates – FY 2025-26 | AY 2026-27: Plan Ahead and File on Time

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Income Tax Return (ITR) filing is an important annual compliance responsibility for taxpayers in India. As the filing season for Financial Year 2025-26 and Assessment Year 2026-27 progresses, taxpayers should understand the applicable due dates, identify the correct ITR form, and prepare the necessary documents well in advance. Waiting until the last few days can lead to unnecessary pressure, missing information, incorrect reporting, and avoidable filing errors. Early preparation provides sufficient time to review income details, reconcile tax records, verify deductions, and complete the filing process accurately. Important ITR Filing Due Dates for AY 2026-27 For FY 2025-26, taxpayers should carefully check the due date applicable to their category and return requirements. ITR-1 & ITR-2 – Due Date: 31st July 2026 The due date highlighted for taxpayers generally filing ITR-1 or ITR-2 is 31st July 2026 . Depending on eligibility and the nature of income, these forms may generally b...
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ITR Filing Alert: Share Your Documents Today!

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The Income Tax Return filing season for Assessment Year (AY) 2026-27 is underway, and taxpayers should begin preparing their documents well before the applicable due date. For taxpayers whose ITR filing deadline is 31st July 2026 , early preparation can help ensure a smoother, more accurate, and stress-free filing process. One of the most common reasons for delays in filing an Income Tax Return is the late collection of documents. Salary details, bank statements, tax certificates, investment records, capital gains statements, rental income details, and other financial information may take time to gather and verify. If you have not yet shared your documents with your tax professional, now is the time to act. Avoid waiting until the last few days before the deadline. Early submission provides sufficient time to review your financial information, identify discrepancies, collect missing documents, and prepare your return accurately. Why Should You Share Your ITR Documents Early? Filing an...
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ITR AY 2026-27: Small Business Owner? File With Confidence!

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Running a small business requires dedication, careful planning, and constant attention to finances. Along with managing customers, employees, expenses, and business growth, small business owners must also ensure that their income tax obligations are handled correctly. As the Income Tax Return filing season for Assessment Year (AY) 2026-27 approaches, accurate tax reporting and proper return selection become important priorities. For many small business owners, filing an Income Tax Return is not simply about entering income figures and submitting a form. Business income can involve sales, professional receipts, operating expenses, depreciation, investments, loans, interest income, capital gains, and several other transactions. Choosing the appropriate tax provisions and reporting all relevant information correctly can significantly affect tax liability and overall compliance. Professional guidance can help small business owners understand their tax position, avoid common filing mistake...
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GST Update: Relief for Genuine Buyers – Proposal to Protect Input Tax Credit (ITC) from Supplier Defaults

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  The Goods and Services Tax (GST) regime was introduced with the objective of creating a transparent and seamless indirect tax system across India. One of its key features is the Input Tax Credit (ITC) mechanism, which enables businesses to claim credit for the GST paid on purchases and utilize it against their output tax liability. This mechanism prevents the cascading effect of taxes and ensures smooth business operations. However, over the years, genuine taxpayers have faced significant challenges due to supplier defaults. In several cases, businesses have lost their eligible ITC simply because their suppliers failed to deposit the GST collected from them with the Government. This issue has resulted in unnecessary litigation, financial hardship, and compliance uncertainty for honest taxpayers. Recognizing these concerns, the GST Council's Law Committee has approved a proposal aimed at protecting genuine buyers from losing ITC due to supplier defaults. Although the proposal i...
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ITR AY 2026-27: More Than One Income Source? Here’s What You Need to Know

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Many taxpayers today earn income from more than one source. Along with a regular salary, you may receive rental income, bank interest, investment returns, capital gains, freelance income, or other earnings. While multiple income sources can improve your financial position, they can also make Income Tax Return (ITR) filing more complex. For Assessment Year 2026-27 , corresponding to income earned during Financial Year 2025-26 , taxpayers must carefully identify and report all applicable sources of income in their Income Tax Return. Missing or incorrectly reporting an income source can lead to tax mismatches, incorrect tax calculations, notices, or unnecessary compliance issues. Professional assistance can be particularly useful when your income comes from different categories and requires detailed calculations. Understanding the Five Heads of Income Under the Income Tax framework, taxable income is generally classified under five major heads. Correct classification is essential because ...
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