Clipped from: https://www.financialexpress.com/money/does-paying-only-the-minimum-due-on-your-credit-card-affect-your-credit-score-3915045/ Nowadays, credit cards have become an important part of our daily lives. But it is the right use that maintains your credit health.
Day: July 15, 2025
*******ITR errors? Revise your return by Dec 31 or risk notices, penalties, even prosecution
Clipped from: https://www.businesstoday.in/personal-finance/tax/photo/itr-errors-revise-your-return-by-dec-31-or-risk-notices-penalties-even-prosecution-484773-2025-07-15 Filing your income tax return can be tedious, with complex forms, AIS mismatches, and portal glitches adding to the stress. While the deadline
*******ITR filing: New ITR 2 utility rolls out with big changes; experts say choose form with caution – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/itr-filing-new-itr-2-utility-rolls-out-with-big-changes-experts-say-choose-form-with-caution-484710-2025-07-15 The Income Tax Department has revamped the ITR-2 Excel Utility for AY 2025–26 with six key upgrades. Experts warn that filing the wrong
*******ITR filing: New ITR 2 utility rolls out with big changes; experts say choose form with caution – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/itr-filing-new-itr-2-utility-rolls-out-with-big-changes-experts-say-choose-form-with-caution-484710-2025-07-15 The Income Tax Department has revamped the ITR-2 Excel Utility for AY 2025–26 with six key upgrades. Experts warn that filing the wrong
*******No zero tax on Rs 7 lakh if stocks yield capital gains, warns expert after ITR rule change – BusinessToday
lipped from: https://www.businesstoday.in/personal-finance/tax/story/section-87a-rebate-excludes-capital-gains-impacting-retail-investors-under-7-lakh-484730-2025-07-15 Changes in Income Tax Return (ITR) rules last year are set to impact retail investors, especially those opting for the new tax regime.
Political donations, medical claims: How to avoid I-T scrutiny on deductions | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/how-to-manage-tax-scrutiny-of-political-donations-medical-claims-125071500780_1.html Ignorance is not a defence and taxpayers have to give proof to justify claims, say experts The Income Tax Department has searched 200
*ITR myths that can cost you big: Don’t fall for TDS, gift or crypto loophole traps – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/itr-myths-that-can-cost-you-big-dont-fall-for-tds-gift-or-crypto-loophole-traps-484669-2025-07-15 As ITR filing for FY 2024–25 gathers momentum, a large number of taxpayers—ranging from salaried professionals and gig workers to small business owners—are
*******Claimed fake tax deductions? I T dept’s AI flags bogus HRA, loans claims, hefty penalties await – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/claimed-fake-tax-deductions-i-t-depts-ai-flags-bogus-hra-loans-claims-hefty-penalties-await-484683-2025-07-15 Utilising AI, the Income Tax Department targets fabricated deduction claims, resulting in the removal of Rs 1,045 crore in false entries by over
*Income Tax Dept cracks down on fake ITR refunds: Bogus deductions, exemptions under scanner – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax-dept-cracks-down-on-fake-itr-refunds-bogus-deductions-exemptions-under-scanner-3914191/ To identify such irregularities, the tax department has leveraged technology tools, including data analytics, third-party sources, conduct intelligence and advanced artificial intelligence tools.
*40,000 taxpayers withdrew Rs 1,045-crore bogus ITR claims after income tax crackdown intensifies – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/action-against-tax-evaders-40000-taxpayers-withdraw-rs-1045-crore-bogus-itr-claims-after-income-tax-crackdown-3914716/ The Income Tax Department has initiated a major action against individuals who obtained tax refunds through false tax deductions and exemptions across the country. The
*Income Tax crackdown: Employees of MNCs, PSUs and govt depts under scrutiny for fake deduction claims – Money News | The Financial Express
lipped from: https://www.financialexpress.com/money/employees-of-mncs-psus-and-govt-depts-under-scrutiny-for-fake-deduction-claims-inflated-refunds-3914816/ In a major nationwide crackdown, the Income Tax Department has turned its attention to employees of multinational companies (MNCs), public sector undertakings (PSUs), and even