New Income Tax Bill clears Lok Sabha: Key changes you must know
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India Today
29 minutes ago
- India Today
ITR-6 excel utility now live: Who is eligible to file?
The Excel utility for ITR Form 6 has now been released for AY 2025-26, enabling companies to file their income tax returns for FY Income Tax Department wrote on X, 'Kind Attention Taxpayers! Excel Utility of ITR-6 for AY 2025-26 is now live and available for filing.' advertisementWHO NEEDS TO FILE ITR-6?ITR-6 is the return form used by companies that do not claim exemption under Section 11 of the Income Tax Act, which is meant for entities with income from property held for charitable or religious purposes. Corporate taxpayers can now prepare and file their income tax returns using the updated utility available on the e-filing this year, the government had already notified all ITR forms for AY 2025-26. The utilities for ITR-1 and ITR-4 were released in May and June, followed by ITR-2 and ITR-3 in July. The excel utility for ITR-5 was launched on August 8, and now ITR-6 has been added to the tax department has also made it possible for taxpayers to file updated returns (ITR-U) for Assessment Years 2021-22 and 2022-23 in ITR-3 and BURDEN ON EXPERTSThe staggered rollout of utilities has added to the workload of chartered accountants and experts, who already face several professionals feel that the delay will result in a rush to file returns, increasing the likelihood of errors. Incomplete or incorrect filings often draw queries from tax officials and may lead to ISSUES STILL REMAINAlthough utilities are being released in phases, technical glitches are still troubling users. Some corporate taxpayers using ITR-2 have reported problems with the Annual Information Statement (AIS) and the Tax Information Summary (TIS).Professionals say these issues should be resolved quickly, as last-minute adjustments could make the filing process even more are advised to keep checking the e-filing portal for updates and ensure that they use the latest version of the utility while preparing their return.- Ends
New Indian Express
29 minutes ago
- New Indian Express
Uttarakhand cabinet approves Minority Education Bill, set to repeal Madrasa Act
DEHRADUN: The Uttarakhand Cabinet has approved the Minority Education Bill-2025, extending minority status benefits to institutions run by the Sikh, Jain, Buddhist, Christian, and Parsi communities in the state. At present, the minority educational institution status is granted only to the Muslim community. The bill will be introduced in the monsoon session of the Assembly starting from August 19. Once implemented, the Uttarakhand Madrasa Education Board Act, 2016, and the Uttarakhand Non-Government Arabic and Persian Madrasa Recognition Rules, 2019, will be repealed, effective July 1, 2026. Official sources said the bill was approved during the Cabinet meeting held here under the chairmanship of Chief Minister Pushkar Singh Dhami. After it is implemented, the study of the Gurumukhi and Pali languages will also be possible in recognised minority educational institutions. This bill provides for the formation of an authority, making it mandatory for educational institutions established by all minority communities to obtain recognition from it, they said. This authority will work to facilitate and promote educational excellence in these institutions so that the children of the minority community get quality education and their educational development can take place, the sources said. The authority will grant recognition to the minority educational institution only when certain conditions are fulfilled by the applicant. If any condition is violated or the funds received from fees, donations, grants, or any other funding source are found to be misused, the recognition of that institution can also be terminated, they said. The authority will ensure that education is imparted in these institutions according to the standards set by the Uttarakhand Board of School Education, and the evaluation of the students is fair and transparent. Once enacted, it will be the first such Act in the country that aims to establish a transparent process for granting recognition to educational institutions established by minority communities in the state as well as ensure quality and excellence in education, the sources said.
Time of India
29 minutes ago
- Time of India
Rahul Gandhi - The Economic Times Video
Stay updated with Day 18 of the Parliament session LIVE from Lok Sabha. Get the latest discussions on Bihar SIR development, Shubhanshu Shukla's inspiring space mission, and key statements from PM Modi and Congress leaders. Don't miss important debates shaping India's future—watch now for real-time updates and expert insights!
