Category: Five Star

Clipped from: https://cleartax.in/s/speculative-income For income tax purposes, the income earned by the taxpayers is categorised under five major heads such as income from salary, income from house property,

Clipped from: https://www.financialexpress.com/money/ais-mismatch-in-itr-filing-heres-how-to-fix-it-as-per-income-tax-dept-guidelines-3922959/ Over 1.62 crore taxpayers have so far filed their income tax returns (ITRs) this assessment year (AY2025-26). The Income Tax Department website shows that as many as

Clipped from: https://taxguru.in/income-tax/ais-26as-mismatch-trigger-tax-notices-taxpayer.html Introduction Just last month, a client of mine—a schoolteacher—received an unexpected notice for underreporting interest income of only ₹1,000. She was shocked because

Clipped from: https://www.businesstoday.in/personal-finance/tax/photo/i-t-notice-after-filing-return-dont-panic-heres-what-to-check-and-do-next-486172-2025-07-24 Getting an income tax notice after filing your return can feel stressful—but it’s often no cause for alarm. With the tax system now

Clipped from: https://economictimes.indiatimes.com/markets/bonds/corporate-bonds-in-india-from-institutional-stronghold-to-broader-participation/articleshow/122808987.cms The Income Tax Department has extended the last date for filing the income tax return (ITR) for FY 2024-25 (AY 2025-26) to September

Clipped from: https://economictimes.indiatimes.com/wealth/tax/taxpayer-wins-rs-1-4-lakh-penalty-case-despite-claiming-false-income-tax-deductions-to-reduce-income-by-50-know-the-details/articleshow/122860793.cms Penalty of Rs 1.4 lakh deleted despite a taxpayer claiming false income tax deductions to reduce his income by 50%; Know the details

Clipped from: https://www.businesstoday.in/personal-finance/tax/story/missed-this-new-july-23-tax-rule-you-might-overpay-capital-gains-on-your-itr-2025-485811-2025-07-23 Gold, debt, and other capital assets see their holding period for LTCG classification drop from 3 years to 2, with a unified 12.5%

Clipped from: https://www.financialexpress.com/money/income-tax-itr-filing-non-disclosure-of-foreign-income-us-stocks-can-lead-to-tax-trouble-3919066/ Taxpayers must ensure proper disclosures when reporting foreign assets and income to tax authorities, including selecting the appropriate ITR form, filing Schedule FA

clipped from: https://www.financialexpress.com/money/income-tax/itr-guide/ Income Tax Return 2025: What is ITR filing due date for AY 2025-26? This extension will provide more time due to significant revisions

Clipped from: https://www.financialexpress.com/money/itr-filing-2025-filed-the-wrong-itr-form-you-could-lose-your-refund-and-face-3912526/ Many individuals, unaware of the correct ITR form for their income sources, inadvertently submit ITR-1 despite having capital gains, foreign income, or professional

Clipped from: https://www.business-standard.com/finance/personal-finance/exemption-limits-forms-income-tax-rule-changes-for-nris-this-year-125070801070_1.html They must report Indian assets if income crosses Rs 1 cr as threshold for capital gains has increased, say experts Non-resident Indians (NRIs)

Clipped from: https://www.businesstoday.in/personal-finance/tax/story/tax-trap-or-smart-move-splitting-pg-rental-income-between-parents-explained-483730-2025-07-08 Running a small PG, a family considers splitting rental income between parents to save tax. However, experts warn that mere income diversion without