Income tax update: CBDT enables reporting of foreign income in AIS
Going forward, taxpayers with overseas bank accounts, investments, interest, dividends or other reportable foreign financial assets should reconcile these with their Income Tax Return and foreign asset disclosures.
Foreign assets in ITR: Income Tax Department’s new AIS, Form 26AS rule explained
CBDT mandates foreign financial info in AIS, Form 26AS for transparency. Taxpayers can now reconcile overseas data before filing ITR.
Bombay Chartered Accountants’ Society (BCAS) Announces New Leadership
Bombay Chartered Accountants’ Society (BCAS), India’s largest and oldest voluntary professional body of Chartered Accountants, celebrated its 78th Founding Day
ITR filing: Why freelancers, consultants & content creators face greater compliance risks
Why freelancers, consultants & content creators face greater compliance risks EXC: The ITR filing season is on in full swing. For most individual tax filers July 31 is the last date to file taxes without any penalty.
Groww, Zerodha, Upstox Get GIFT City Approval. But A Bigger Challenge Awaits
According to Kinjal Shah, CA and Vice President of the Bombay Chartered Accountants Society, that is now the defining challenge for GIFT City.
OPINION | Why India needs its own globally competitive domestic Big Four
India needs strong home-grown accounting firms to support businesses, protect data, strengthen governance and help the country achieve its long-term economic ambitions
GST @10: This day, that year -How tax slabs were designed, how they’ve evolved
When GST was launched, it was designed as a complex 5-tier structure: 0 percent, 5 percent, 12 percent, 18 percent, and 28 percent.
Have India’s Equity Investors Matured?
Some of India’s pandemic era equity investors have moved from chasing quick trading gains to embracing more disciplined, mutual fund-led wealth creation
Beyond The CFO Title: How CA-Trained Leaders Shape Entire Organisations
Zubin F. Billimoria, President, Bombay Chartered Accountants Society, examines how chartered accountants are moving from finance leadership to the corner office
I-T dept flags up to 20,000 ITRs for ‘swapped provisions’: What to do
Revised returns are meant for corrections, not tax-saving experiments; experts explain why ‘swapped provisions’ can trigger action
Spent over ₹2 lakh on foreign travel? You may have to file ITR even with no taxable income
According to Mrinal Mehta, Joint Secretary at the Bombay Chartered Accountants’ Society (BCAS), the Income Tax Department tracks spending patterns and high-value transactions
ITR filing AY 2026-27: Why thousands of early ITR filers may need to revise their returns
According to Mrinal Mehta, Joint Secretary at the Bombay Chartered Accountants’ Society (BCAS), the growing number of revised returns is largely driven by the continuous updating of taxpayer information in the reporting systems.
Before you use ChatGPT or Claude to file your ITR this July, read this first
AI systems may struggle with nuanced tax situations involving multiple income streams, international taxation and complex disclosures
How growing sources of income is posing a challenge to taxpayers, an expert clarifies
Though the systems and procedures of the Income Tax compliances are being simplified, the compliance burden on taxpayers has increased in recent years, particularly for individuals earning income from multiple sources.
ITR filing AY 2026-27: Why first-time taxpayers are making more return filing mistakes than ever?
Mrinal Mehta, Joint Secretary at Bombay Chartered Accountants’ Society, says first-time taxpayers often wrongly assume no tax liability means no filing requirement.
ITR 2026: How Salaried Taxpayers Can Verify Income Tax Portal Data Before Filing Returns | Expert’s Insights
Filing without verifying details reflects on the income tax portal increases the risk of mismatches between your filed return and the department’s records. Such mistakes can lead to notices and rework, or even penalties for under-reporting.
ITR 2026: 10 tax-free income sources in India
Taxpayers should ensure that exempt incomes are reported under the appropriate heads even where no tax is payable.
Why Sebi Wants Exchanges To Follow A Common Price Band For Stocks
The proposal seeks to align price bands and pre-open reference prices across exchanges to prevent price divergence in illiquid stock
Why More Taxpayers May Receive Income Tax Scrutiny Notices This Year
ITR Filing AY 2025-26: Most scrutiny notices are not accusations of wrongdoing. Often, they simply seek clarification or supporting documents.
Income Tax: Foreign travel and luxury spending can create tax filing obligations – All you need to know
Remember that non-filing carries costs beyond penalties. You forfeit the TCS credit and leave an unexplained AIS footprint that can mature into a notice or a best-judgment assessment.
Why salaried taxpayers should not file ITR without Form 16: Key risks explained
According to Mrinal Mehta, Joint Secretary at Bombay Chartered Accountants’ Society, while filing without Form 16 is legally permissible,
From PAN, TDS to tax regime: 7 Form 16 checks you can’t miss before filing ITR
Every year, as soon as Form 16 lands in our inboxes, many of us breathe a sigh of relief. After all, it contains our salary details
From PAN, TDS to tax regime: 7 Form 16 checks you can’t miss before filing ITR
For many salaried employees, Form 16 is the starting point of ITR filing. But before you file your return, have you checked whether your PAN, TDS credits and tax regime details are actually correct?
Form 40 explained: How Indians with US, UK and Canadian retirement accounts can opt to defer tax
How Indians with US 401(k), UK pension and Canadian retirement accounts can opt to defer tax in India under the Income-tax Act, 2025.
Income tax after death: Who pays the dues of a deceased taxpayer, and what Section 302 says
After the death of the person, the responsibility shifts to their legal heir or legal representative, who takes care of filing the income tax return
The Crucial First Days Navigating the Legal and Operational Chaos When Corporate Governance Breaks Down
India’s corporate ecosystem in 2026 operates under sharper scrutiny than before. Securities and Exchange Board of India (SEBI) continues to tighten disclosure and accountability
Filing ITR: Mrinal Mehta lists common mistakes taxpayers make with capital gains
Getting the holding period wrong is one of the commonest mistakes that determines the basis of capital gains taxation, says Mrinal Mehta, joint secretary of Bombay Chartered Accountants’ Society.
Filing ITR Early? Why You Should Wait Until June 15 To Avoid a Tax Notice
ITR Filing 2026: The ITR utilities are available, but banks and other financial institutions usually file their annual specified financial statement by May 31.
Filing ITR: Mrinal Mehta lists common mistakes taxpayers make with capital gains
Mrinal Mehta lists common mistakes taxpayers make with capital gains The process of filing ITR (Income Tax Returns) has already begun.
Increase in limits for NRI and OCI investors to invest in stock market without SEBI registration, RBI Guv
The Reserve Bank of India has boosted investment limits for non-resident Indians, Overseas Citizens of India, and other individuals residing abroad.
