TDS on Post Office schemes: Not all post office schemes are tax-free: check TDS applicability here

Post Office investments have diverse tax implications, with interest on some schemes being taxable. Crucially, new TDS thresholds take effect from April 1, 2025. Senior citizens will face TDS on interest income exceeding Rs 1 lakh, while general citizens will see deductions above Rs 50,000.

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Gurugram-based professional can save Rs 1.16 lakh tax in old tax regime this way

Sudhir Kaushik of TaxSpanner.com tells readers how they can optimise their tax by rejigging their incomes and investments.

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New GST rates from September 22, 2025: Step-by-step guide to update your software

New GST rates took effect on September 22, 2025, necessitating software updates for registered taxpayers. A step-by-step guide, using Tally as an example, details how to implement these changes, including bulk updates and effective dates. The article also clarifies various scenarios concerning time of supply, Input Tax Credit, and specific exemptions for insurance policies.

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CBDT asked to extend ITR filing deadline to October 31, 2025 for tax audit cases, orders Gujarat High Court

Following directives from the Rajasthan and Karnataka High Courts, the CBDT extended the tax audit report deadline to October 31, 2025. Subsequently, the Gujarat High Court further directed CBDT to extend the ITR due date for tax audit cases to November 30, 2025, addressing the gap created by the audit report extension.

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Do I have to pay income tax if I gift a flat to my wife?

My father-in-law plans to gift a flat, valued at approximately Rs 30 lakh, to my wife, the eldest of three siblings, and has asked the developer to register it in her name. Will this gift result in any tax liability or significant charges for my wife?

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Will UPS subscriber or spouse have to pay income tax on withdrawals or family pension?

The Department of Financial Services clarifies the tax implications of the UPS scheme, including family pensions, partial withdrawals, and monthly payouts. Withdrawals up to 60% of the corpus at retirement are tax-exempt, while family pensions are taxed as 'Income from other sources.' Monthly pensions are considered 'Salaries' and subject to income tax, as per DFS FAQs.

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Will ITR filing due date be extended now for audit cases to November 30, 2025, due to tax audit deadline extension by CBDT?

The CBDT has extended the income tax audit report filing due date to October 31, 2025, prompting debate on whether the ITR filing deadline for audit cases will also be extended to November 30, 2025. While one expert anticipates a separate notification for ITR extension, another believes it's implied due to amendments enabling pre-filing.

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CBDT extends due date for filing income tax audit report for FY 2024-25 to October 31, 2025 from September 30, 2025

Tax audit last date extension: The CBDT has extended the deadline for filing various audit reports for the Previous Year 2024-25 (Assessment Year 2025-26) from September 30, 2025, to October 31, 2025, for specific assessees. This decision follows representations from professional associations citing difficulties due to floods and natural calamities, despite the Income-tax e-filing portal operating smoothly.

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CBDT extends the due date for filing income tax audit reports for FY 2024-25 from 30 September to 31 October, 2025

The CBDT has extended the deadline for filing various audit reports for the Previous Year 2024-25 (Assessment Year 2025-26) from September 30, 2025, to October 31, 2025, for specific assessees. This decision follows representations from professional associations citing difficulties due to floods and natural calamities, despite the Income-tax e-filing portal operating smoothly.

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Demand for extension of due date of tax audit report and ITR filing is getting wider with many tax bodies writing to finance minister and PMO

The Karnataka State Chartered Accountants Association (KSCAA) has appealed to the PMO, highlighting critical issues with the Income Tax e-filing portal. They cite delayed form releases, persistent glitches, and a non-functional helpline, causing significant stress and financial burden for taxpayers and professionals. Read more about tax audit due date extension.

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Income tax audit due date extension: Rajasthan High Court orders government, CBDT to extend tax audit report deadline to October 31, 2025

Tax audit due date extension latest news: Hearing the writ petitions filed by the Bhilwara and Jodhpur tax bar associations, the Rajasthan High Court in its interim order today (Wednesday, September 24, 2025) directed the central government and CBDT to extend the tax audit report (TAR) due date to October 31, 2025.

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Who needs to file income tax audit report for AY 2025-26?

For AY 2025-26, businesses exceeding turnover limits and certain professionals must file tax audit reports by September 30, 2025, potentially facing penalties for delays. The Bombay Chartered Accountants’ Society has requested an extension due to challenges like delayed utility releases and systemic portal issues, impacting compliance quality and deadlines.

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Are large income tax refunds getting delayed? Here’s what you can do if you are yet to receive refund

Taxpayers awaiting income tax refunds, especially for larger amounts, may experience delays due to extra verification steps. Mismatches in forms, unvalidated bank accounts, or pending dues can also cause holdups. Taxpayers can check their refund status online, file grievances, or contact the CPC helpline to resolve delays and may be entitled to interest on delayed refunds.

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