LatestCorporate Compliance 23 July 2026
ITR Filing Alert
The income tax department may send notices to individuals who have claimed capital gains exemption and it is important to be aware of the 3-year tax trap that may trigger these notices, a quick compliance checklist is necessary before filing ITR for AY 2026-27 to avoid any complications
Claiming capital gains exemption can be a complex process and individuals need to be aware of the *3-year tax trap* that may trigger income-tax notices.
To avoid any complications, it is necessary to have a quick compliance checklist before filing ITR for AY 2026-27.
Some key points to consider include:
- ensuring all necessary documents are in order
- double checking calculations for capital gains
- being aware of the 3-year time frame for exemption
Need help understanding this update?
Connect with our domain experts instantly via WhatsApp for customized legal guidance.