New form for correction in PAN related details: CBDT notifies new online and offline forms for modification in PAN card details; check the guideline and how it works

The Central Board of Direct Taxes has introduced new forms for correcting PAN card details. These forms, PAN CR-01 for individuals and PAN CR-02 for non-individuals, will be effective from April 1, 2026. Both online and offline submissions are permitted. Applicants must provide correct PAN details and a copy of their PAN card. Aadhaar is mandatory for most applicants.

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Income Tax Department website revamp: Site offers links for new ITR forms, e-pay tax, e-verification, e-PAN, payment status and many other tasks

The Income Tax Department has launched a revamped e-filing portal to support the transition to the new Income Tax Act, 2025. Taxpayers can now make payments and file forms under both old and new tax laws from a single platform, with new forms and challans available from April 1, 2026.

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New income tax rules from April 1, 2026: From HRA relief to new ITR deadlines, key changes explained

New income tax rules: Significant income tax changes are coming from April 1, 2026, with the Income Tax Act of 2025 replacing the 1961 act. Expect revised TDS/TCS rules, updated ITR filing deadlines, and changes to buyback taxation. Key benefits include expanded HRA exemptions and increased meal card tax benefits, aiming for a simpler tax regime.

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Capital gains on share buyback get new surcharge twist; income tax dept explains what it means for you

The Income Tax Department has clarified a new 12% surcharge on capital gains from share buybacks, specifically for promoters. This change, part of the Finance Bill 2026, impacts promoters' additional income tax. Non-promoter shareholders will continue to be taxed under normal surcharge provisions based on their income. This move standardizes tax treatment for buyback transactions.

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Pay Rs 62,400 extra income tax if you are using tax harvesting with Rs 12.75 lakh salary; Here’s what to do

Salaried employees may face an additional Rs 62,400 in income tax if they engage in tax harvesting with a Rs 12.75 lakh salary. This occurs because long-term capital gains, though exempt up to Rs 1.25 lakh, push total income above the Rs 12 lakh threshold, disqualifying them from the Section 87A tax rebate.

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I am an OCI cardholder, will I need to pay tax on inherited assets in India?

​I am a German citizen, and have an OCI card. How will inheritance of assets located in India be taxed for me? Is the inheritance itself taxable in India, or only the income generated from the inherited assets?

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ITR filing 2026: Government releases ITR forms for AY 2026–27; check details of ITR-U and ITR-V

New Income Tax Return forms are now available for Assessment Year 2026-27. The updated ITR-U form allows taxpayers to correct past filings. This updated return can be filed for up to four years. Penalties apply based on the filing timeline. The ITR-V form serves as verification for filed returns.

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ITR filing season starts: Income Tax Return forms ITR-1, ITR-2, ITR-3 and others notified

The government has released income tax return forms for AY 2026-27, allowing taxpayers to file by July 31, 2026. However, ITR-1 is not for everyone. Individuals with business profits, short-term capital gains, certain long-term capital gains, income from multiple house properties, or specific 'other sources' income like lottery winnings cannot use this simplified form.

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NRIs tax alert: March 31, 2026 is the deadline to claim foreign tax credit using Form 67 for income earned in FY 2024–25

Non-Resident Indians earning income abroad in FY 2024-25 have a crucial deadline. They must file Form 67 by March 31, 2026. This form is essential for claiming foreign tax credit in India. Filing on time prevents double taxation and ensures benefits are secured. Missing this deadline can lead to tax complications. The process involves detailing foreign income and taxes paid.

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Income Tax Act: As the 2026 tax transition nears, taxpayers may have to navigate two legislations concurrently for next few years

The Income Tax Act, 2025 modernises the law while preserving continuity, ensuring that taxpayers are not forced into uncertainty during transition. Income earned up to financial year 2025- 26, which ends on 31 March, 2026, is governed by the Income Tax Act, 1961; income earned in financial year 2026-27, which starts on 1 April, 2026, comes under the new Act.

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Tax harvesting before March 31, 2026? Watch these three hidden costs that can reduce your tax savings

Tax harvesting strategies can save income tax. However, three hidden costs can reduce these savings. Investors must analyze Securities Transaction Tax, Stamp Duty, Transaction Charges, Exit Loads, Expense Ratios, and Account Maintenance Charges. Understanding these expenses is crucial for effective tax planning before March 31, 2026. This ensures investors retain more money after all costs.

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Tax harvesting before March 31, 2026? Watch these 6 hidden costs that can reduce your tax savings

Tax harvesting strategies can save income tax. However, six hidden costs can reduce these savings. Investors must analyze Securities Transaction Tax, Stamp Duty, Transaction Charges, Exit Loads, Expense Ratios, and Account Maintenance Charges. Understanding these expenses is crucial for effective tax planning before March 31, 2026. This ensures investors retain more money after all costs.

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Old vs new income tax rules: Which set of rules will apply when you file your ITR for FY 2025-26?

Taxpayers filing returns in 2026 will use the old Income Tax Act, 1961. The new Income-tax Act, 2025, takes effect from April 1, 2026, for income earned in FY 2026-27. The new law simplifies tax codes and modernizes compliance. An online tool helps compare old and new provisions. The Income Tax Department aims for a clearer, more accessible tax system.

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