Clipped from: https://economictimes.indiatimes.com/wealth/tax/nris-filing-itr-in-india-should-know-these-four-income-tax-related-changes/articleshow/122313359.cms?utm_source=newsletter&utm_medium=email&utm_campaign=Wealthspecial&utm_content=Story&ncode=75d64f4897e8e8ac52cb55467461f7a63c51ccf2c2e8b750e486fcfa03718c33e0bf41778dc7feec8f76e8759355eb788905edbd8557d2ac1fa363f966a48919a380584f77fada86f74a4f697082eca5&nl_id=5f5a31db80f79664e95679cb The Income Tax Department has notified the income tax return (ITR) forms for FY 2024-25 (AY 2025-26). But, although software utilities for ITR-1
Category: Five Star
*****Filed wrong ITR form? Consequences & how to fix it | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/filed-wrong-itr-form-consequences-how-to-fix-it-125071001226_1.html ‘Filing a wrong ITR doesn’t just stall refunds, it can trigger penalties and scrutiny if not fixed,’ warns a tax expert Experts recommend
*****NRI income tax 2025: Exemption limits, forms: Income Tax rule changes for NRIs this year | Personal Finance – Business Standard
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)
*****Tax trap or smart move? Splitting PG rental income between parents explained – BusinessToday
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
*****Urban consumption not growing as anticipated: CII President Rajiv Memani | Economy Interviews – Business Standard
Clipped from: https://www.business-standard.com/economy/interviews/urban-consumption-is-not-growing-as-anticipated-cii-president-rajiv-memani-125070600417_1.html Memani talked about issues ranging from India-US FTA to India’s complex relationship with China and the labour Confederation of Indian Industry (CII) President
*****Income Tax Dept rolls out ‘TAXASSIST’ campaign to support ITR filing and notice compliance – CNBC TV18
Clipped from: https://www.cnbctv18.com/personal-finance/income-tax-return-filing-new-launch-taxassist-campaign-itr-notice-support-19630316.htm Taxpayers can access TAXASSIST through the department’s e-filing portal. The helpdesk guides users on how to respond to communications received from the tax
*****ITR scrutiny notice: Income Tax Department looks at these parameters while selecting ITRs for scrutiny – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-scrutiny-notice-income-tax-department-looks-at-these-parameters-while-selecting-itrs-for-scrutiny/articleshow/122241215.cms ITR scrutiny notice: Know what are the parameters followed by Income tax dept about when an ITR will be selected for scrutiny The
*****US Fed keeps rates steady for 4th straight meeting, remains open for cuts | World News – Business Standard
Clipped from: https://www.business-standard.com/world-news/us-fed-keeps-rates-steady-for-4th-straight-meeting-remains-open-for-cuts-125061801477_1.html US Federal Reserve decided on Wednesday to keep interest rates unchanged, while indicating that reductions could still be on the table in the
*****Bank locker customers urged to secure their rights, sign new agreement | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/bank-locker-customers-urged-to-secure-their-rights-sign-new-agreement-125061800804_1.html Many still haven’t signed revised agreements complying with RBI guidelines that were announced in Aug 2021 RBI issues new rules of bank lockers
*****The US as tax haven – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/the-us-as-tax-haven/article69622062.ece US and some its States are major tax havens, which not only affects their tax revenues but also the world economy The US
*****Got a big gift recently? Here’s how it could trigger a tax surprise | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/got-a-big-gift-recently-here-s-how-it-could-trigger-a-tax-surprise-125051901052_1.html Experts decode how your cash, property, or crypto gifts could quietly land you on the tax radar income tax bill, income tax, tax
*****Tax Query: Tax Computation Under Budget 2025 Proposals – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-tax-computation-under-budget-2025-proposals/article69523134.ece Where the total income of a resident individual exceeds ₹12 lakh, the individual is not eligible to claim the rebate under the relevant
*****Finality of biz transactions: How delays undermined the Bhushan resolution | Expert Views – Business Standard
Clipped from: https://www.business-standard.com/opinion/columns/finality-of-biz-transactions-how-delays-undermined-the-bhushan-resolution-125051401692_1.html Court ordered the liquidation of BPS, which had been successfully rescued under the IBC in 2019 with the approval of relevant market participants
*****Why India’s nine-year-old insolvency law has bankers going bald with worry | Industry News – Business Standard
Clipped from: https://www.business-standard.com/industry/news/why-india-s-nine-year-old-insolvency-law-has-bankers-going-bald-with-worry-125051300085_1.html A third of the bankruptcies admitted by the tribunals have gone for liquidation, while three-quarters of the cases still open in December had
*****Fed chair Powell signals rethink of strategy on jobs and inflation risks | World News – Business Standard
Clipped from: https://www.business-standard.com/world-news/fed-chair-powell-signals-rethink-of-strategy-on-jobs-and-inflation-risks-125051501891_1.html The Fed for now has said it would stay on the sidelines, with interest rates held steady in the current 4.25% to 4.5%
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