Income Tax – SRK Analytics

Beyond July 31: Understanding Varied ITR Filing Deadlines for the 2026 Assessment Year

As the 2026 tax season approaches, many salaried taxpayers are marking July 31 on their calendars as the final date to submit their Income Tax Returns (ITR). However, official guidelines…

Prasenjit Bhowmik July 30, 2026

Economy

Govt Penalises Income Tax Portal Vendor Over System Outages, Rules Out Future Filing Extensions

The Ministry of Finance has penalised the Managed Service Provider (MSP) responsible for operating India's Income Tax e-filing portal following technical outages that forced a deadline extension in Financial Year…

Prasenjit Bhowmik July 25, 2026

Economy

India Expands Faceless Tax Architecture to Build Trust and Simplify Direct Tax Compliance

In New Delhi, Revenue Secretary Arvind Shrivastava announced an aggressive push to deepen India's faceless tax administration systems and overhaul direct tax legislation, signaling a strategic transition toward a trust-based…

Prasenjit Bhowmik July 25, 2026

Economy

Income Tax Scrutiny: Why Cash Deposits Below ₹10 Lakh Can Still Trigger Notices

Learn why depositing cash under 10 lakh can still trigger an income tax notice and how advanced data analytics are being used to detect tax evasion.

Prasenjit Bhowmik July 24, 2026

Economy

Taxpayers Gain Flexibility as Income Tax Department Introduces ‘Discard ITR’ Feature

The Income Tax Department of India has introduced a crucial update on its e-filing portal, allowing taxpayers nationwide to discard their unverified Income Tax Returns (ITR) and submit fresh filings.…

Prasenjit Bhowmik July 22, 2026