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
Author: Anil R Tikotekar
मी यापूर्वी बँक ऑफ महाराष्ट्र मध्ये क्षेत्रीय अधिकारी म्हणून काम करत होतो. मुंबई, पुणे, सोलापूर, कोल्हापूर व लातूर येथे काम करण्याचा अनुभव आहे . १६ वर्षे मनेजर म्हणूनही काम केले आहे तसेच बँक ऑफ महाराष्ट्र मधील ट्रेनिंग कॉलेज मध्ये शिकवण्याचा देखील अनुभव आहे. माझा इमेल aniltikotekar@gmail.com असा आहे. माझी website अजून चांगली कशी होईल याबाबत सूचनांचे स्वागतच आहे. कोणत्याही आर्थिक फायदा मिळवावा अशा हेतूने ही website सुरु केलीली नाही याची नोंद वाचकांनी घेणे गरजेचे आहे. तसेच या संकेतस्थळावर दिला गेलेला सल्लाअमलात आणण्याआधी आपल्या आर्थिक बाबी माहित असण्याऱ्या व्यक्तींचा [ जसे की CA ] सल्ला घ्यावा. समाजातील काही घटनांना थोडीशी जरी मदत झाली तरी हा प्रयत्न थोडाफार तरी यशस्वी झाला असे म्हणता येईल.
*******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
***ITR Filing 2025: Filed the wrong ITR form? You could lose your refund and face… – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/itr-filing-2025-filed-the-wrong-itr-form-you-could-lose-your-refund-and-face-3912526/ If your capital gains exceed ₹1.25 lakh, filing ITR-1 will make your return invalid. If your capital gains exceed ₹1.25 lakh, filing ITR-1
*******How to download AIS, TIS for ITR filing FY 2024-25 (AY 2025-26) – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-to-download-ais-tis-for-itr-filing-fy-2024-25-ay-2025-26/articleshow/122440627.cms How to download AIS Before submitting your Income Tax Return (ITR), you should have a thorough understanding of your financial activities as reported
***Understand the legal and financial implications before gifting property | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/gifting-property-legal-financial-risks-revocation-clauses-125071400792_1.html A registered gift deed transfers property ownership permanently and cannot be revoked unilaterally, unless specifically stated-donors and donees must plan with caution A
1-Changing details on e-filing portal? Here’s how to e-verify them easily | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/changing-details-on-e-filing-portal-here-s-how-to-e-verify-them-easily-125071400791_1.html Have you updated your mobile, email or bank details on the income tax portal? Complete e-verification quickly to avoid delays in refunds and
Cost Inflation Index–what it is –Courtesy ET
Clipped from: https://economictimes.indiatimes.com/wealth/tax/what-is-cost-inflation-index-for-ltcg-tax-calculation-under-income-tax-rules/articleshow/122392522.cms Cost inflation index is a tool that helps measure the rise in cost due to inflation. What is cost inflation index? With each passing
*******ITR filing last date for FY 2024-25 is not same for all: Check due dates for salaried individuals, professionals, companies, proprietorship firms, other taxpayers – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-filing-last-date-for-fy-2024-25-is-not-same-for-all-check-due-dates-for-salaried-individuals-professionals-companies-proprietorship-firms-other-taxpayers/articleshow/122434862.cms The Income Tax Department extended the last date to file income tax returns (ITR) from July 31, 2025, to September 15, 2025, for
*******ITR verification process methods: 5 ways to e-Verify your Income Tax Return – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-verification-process-methods-5-ways-to-e-verify-your-income-tax-return/articleshow/122436556.cms Whether filing an Income Tax Return (ITR) or responding to tax notices, it is recommended to verify the process online for a seamless
*******Making these common mistakes with ITR-2 and ITR-3 while using excel based utilities? Here’s how you can fix it – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/doing-these-common-mistakes-with-itr-2-and-itr-3-while-using-excel-based-utilities-heres-how-you-can-fix-it/articleshow/122389389.cms Follow these four solutions to prevent corruption and other tax calculation mistakes with ITR-2 and ITR-3 excel based ITR filing utilities Now that
*****ITR-1, ITR-2, ITR-3 or ITR-4: Which form applies to your income for ITR filing FY 2024-25 (AY 2025-26)? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-1-itr-2-itr-3-or-itr-4-which-form-applies-to-your-income-for-itr-filing-fy-2024-25-ay-2025-26/articleshow/122385713.cms The Income Tax Department has notified the income tax return (ITR) forms for the financial year 2024-25 (assessment year 2025-26). This year’s ITR forms have
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