New Income Tax Rules 2026 Explained: 6 key form changes and what they mean for taxpayers

Major tax overhaul streamlines compliance as Income Tax Rules 2026 transform key forms, merging TDS, PAN and AIS systems to ...

IT form changes in FY26: Experts explain key updates taxpayers should know

Experts say the new FY26 income tax forms aim to make tax reporting more data-driven while tightening checks on mismatches ...
The Financial Express

ITR filing not required: Income Tax Act 2025 allows these taxpayers to use Form 125 — check eligibility

Senior citizens aged 75+ with only pension and interest income can now avoid filing ITR using Form No. 125 under the new Income-tax Act, 2025. The bank computes income, deducts tax, and handles ...

You May Be Owed a Tax Refund From the Covid Era

A court ruling found that the I.R.S. shouldn’t have charged penalties and interest during the pandemic. But the government ...
The Valdosta Daily Times

IRS announces tax relief for taxpayers impacted by wildfires in Southeast Georgia; various deadlines postponed to Aug. 20

The Internal Revenue Service has announced tax relief for individuals and businesses in parts of Southeast Georgia that were ...

Income-tax returns: Form 121 replaces Form 15G, 15H — who is eligible, where to download and how to avoid TDS, explained

The new Income-Tax Act 2025 replaced the original Tax Deducted at Source forms — Form 15G and 15H — with a single Form 121, ...

Extra tax breaks can apply to many in Michigan hit by severe flooding

Michigan taxpayers hit by 2026 floods could get new income tax breaks for state-declared disasters.

Another $2 billion CT surplus and little tax relief for households. How did that happen?: Dan Haar

"I thought that’s where we were going to go. I did think that was the direction," House Speaker Matt Ritter said of tax cuts ...

Income-tax returns: Here's how to declare gifts, mutual fund and share transfers in ITR form

Recipients of significant financial gifts from relatives should disclose these in their ITR to ensure transparency. Proper reporting and retention of documents can prevent tax queries or notices from ...

Texas lifts safety rule enacted after deadly flood, clearing the way for some summer camps to reopen

Department of State Health Services is lifting a requirement for youth camps to install fiber optic facilities this summer. The decision follows a lawsuit from 19 camps that found ...
The Financial Express

New tax declaration forms introduced for NRI remittances

Form 146 is a Chartered Accountant's certificate required when the taxable payment to a non-resident exceeds Rs 5 lakh in a year, confirming the TDS rate and applicable tax treaty provisions. If you ...
Tax Guru

Comprehensive Analysis of Form 121: New Unified Self-Declaration for TDS Exemption under Income-tax Act, 2025

The issue addressed complexity arising from multiple TDS declaration forms. The new framework replaces them with a single Form 121 for all eligible taxpayers. The takeaway is simplified and ...