Many taxpayers have received communications from the Income Tax Department. These are sent when there’s a mismatch between the information available with the ITD and what’s reported by the taxpayer in their Income Tax Return. Common reasons for this communication include claiming excess deductions, failing to disclose foreign income/assets, or a mismatch between your Form 16 and the ITR. To address this, you should: 👉 Review the AIS with the ITR filed. 👉 Revise your ITR if required. 👉 If you haven’t filed an ITR yet, file a belated return. ⏰ Deadline to file a revised and belated return is 31st Dec, 2025. You can find a detailed explanation of this communication and the next steps on Tax Q&A: qna.tax/t/why-the-itd-is-nud… Follow @Quicko_official for everything taxes and finance. . . #Incometax #CBDT #ITR #Quicko

Many people are receiving emails about the non-disclosure of foreign assets/income in their ITR. And yes, you might receive one too. Here’s what’s happening. 👉The ITD has started issuing intimations/notices for AY 2025-26 where Schedule FA was not filled. 👉This is based on data received from foreign jurisdictions under international information-sharing agreements. This mostly impacts salaried taxpayers holding RSUs, ESOPs, investing in foreign markets, holding overseas bank accounts, or other foreign assets or income. So, what should you do? File a revised ITR by December 31, 2025 and report the foreign asset/income. We’ve explained more details about the notice and how you can respond to it on Tax Q&A: qna.tax/t/cbdt-notifies-taxp… Follow @Quicko_official for everything taxes and finance. . . #Foreignassets #ScheduleFA #ITR #CBDT #Quicko #incometaxreturn

🚨 Tax audit due dates extended CBDT has officially extended the audit deadlines for AY 2025-26. The updated dates are: 👉 Tax audit report submission: 10th Nov 2025 👉 ITR filing for audit cases: 10th Dec 2025 This is a major relief for both taxpayers and professionals. If audit applies in your case and you haven’t completed the process yet, use this extra time to finish everything accurately, and avoid waiting till the last day. . . #ITRextension #CBDT #ITR #Quicko #incometaxreturn

Many people have been getting income tax notices over the past week because they paid less advance tax this year. And yes, it can happen to you too. So here's what's happening. 👉 The IT department checked advance tax payments made till 15 Sept 2025 (the second instalment date). 👉 They then compared them with what you paid by the same time last year. 👉 If your income looks similar but your payment dropped, say ₹1L last year vs ₹80K now, they want to know why. Under Section 210(3), the Assessing Officer (AO) can: - ask why your payment dropped, - ask for proof of how you estimated your income, - and even issue a demand notice under Section 156 to pay additional advance tax. What should you do? If you’ve received this notice, reply before the compliance date mentioned in it. If you don’t, the AO will calculate your advance tax based on their estimate, and you’ll have to pay that amount along with interest under Sections 234B and 234C. We’ve explained more details about the notice and how you can respond to it on Tax Q&A: qna.tax/t/received-a-notice-… Follow @Quicko_official for everything taxes and finance.

Important update: The CBDT has pushed the due date to submit tax audit reports for AY 2025-26. The new deadline is 31st Oct 2025, a month ahead of the earlier 30th Sept. The news isn't surprising though. Many CAs and tax professional bodies had requested the CBDT for more time, pointing to: - the short gap after the ITR filing deadline, technical issues on the income tax portal, and - the impact of floods in parts of the country. Please note that this extension applies toaudit report submissions. The ITR filing due date for audit cases stays the same at 31 October 2025. If you want to learn more about tax audit and know whether it applies to you, here's a simple read: qna.tax/t/tax-audit-u-s-44ab… This extension should ease the pressure on CAs, and give taxpayers more time to file audit reports accurately. Follow @Quicko_official for latest updates on taxes and finance.