by sinewave | Jun 6, 2026 | Taxation
The Income Tax Department has notified ITR-2 for Assessment Year (AY) 2026-27, introducing important changes that taxpayers must be aware of. This form is applicable to individuals and Hindu Undivided Families (HUFs) who do not have income from business or profession...
by sinewave | Jun 1, 2026 | Taxation
📌 Introduction With the repeal of the Income Tax Act, 1961 and the commencement of the Income Tax Act, 2025 from April 1, 2026, taxpayers have raised concerns about the treatment of past losses and deductions. Losses are crucial in tax planning, as they can reduce...
by sinewave | May 21, 2026 | Taxation
ITR 1–4 Updates for FY 2025-26 (AY 2026-27): Key Changes for Individuals & HUFs The Central Board of Direct Taxes (CBDT) has rolled out significant revisions to the Income Tax Return (ITR) forms for AY 2026-27. These updates go beyond cosmetic tweaks—they...
by Sinewave Team | Mar 31, 2026 | Taxation
IntroductionThe shift from the Income Tax Act, 1961 to the Income Tax Act, 2026 has introduced major structural and procedural updates, including renumbering, consolidation, and streamlining of statutory forms. While the essence of compliance; covering audit reports,...
by Sagar Pawar | Mar 20, 2026 | Taxation
✨ Introduction Tax Deducted at Source (TDS) is a key compliance mechanism under the Income Tax Act, ensuring tax collection at the point of income generation. For FY 2026-27 (Tax Year 2026-27), effective from 1st April 2026, the Income Tax Act 2025 (New) consolidates...
by Sagar Pawar | Mar 20, 2026 | Taxation
Introduction Tax compliance in India has undergone significant transformation over the past decade, with digitization and stricter monitoring ensuring greater transparency in reporting. One of the most critical aspects of compliance is the accurate filing of Tax...
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