Clipped from: https://www.businesstoday.in/personal-finance/tax/story/itr-filing-2025-itr-forms-1-2-3-4-and-5-notified-for-fy-2024-25-key-differences-explained-for-taxpayers-474887-2025-05-06 The I-T department has notified new ITR forms for FY 2024-25, detailing eligibility and exclusions for each form. These tax filing forms cater to
Category: Five Star
*****I am paying monthly rent more than Rs 50,000. Should I deduct TDS monthly or once yearly? – I am paying monthly rent more than Rs 50,000. Should I deduct TDS monthly or once yearly? BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/i-am-paying-monthly-rent-more-than-rs-50000-should-i-deduct-tds-monthly-or-once-yearly-474892-2025-05-06 Under Section 194-IB, individuals or HUFs (not liable for tax audit) are required to deduct 2% TDS only “once” – at the time
*****NCLT, NCLAT can’t review PMLA decision: Supreme Court in BPSL case | Company News – Business Standard
Clipped from: https://www.business-standard.com/companies/news/sc-bpsl-case-nclt-nclat-have-no-power-over-pmla-authority-125050500690_1.html The Supreme Court has ruled that NCLT and NCLAT lack judicial review power over statutory decisions under the PMLA in the Bhushan Power
*****SC flags RP’s failures in Bhushan Power and Steel’s insolvency plan
Clipped from: https://www.business-standard.com/industry/news/sc-flags-rp-lapses-in-bhushan-power-insolvency-plan-125050501067_1.html Supreme Court cites non-compliance by resolution professional in Bhushan Power case, declaring JSW Steel’s plan illegal and urging greater due diligence under IBC
*****Reaching real equilibrium policy rates – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/reaching-real-equilibrium-policy-rates/article69541943.ece To counter the global trade turbulence, central banks must use the monetary space available to them MPC must give priority to the real
*****Assessee Proves Loan Repayment & Discharges Section 68 Onus – ITAT deletes addition
Clipped from: https://taxguru.in/income-tax/assessee-proves-loan-repayment-discharges-section-68-onus-itat-deletes-addition.html Wow Entertainment and Media Private Limited Vs ACIT (ITAT Mumbai) The Income Tax Appellate Tribunal (ITAT) Mumbai heard an appeal by Wow Entertainment
*****Assessment without Section 143(2) notice is unsustainable: ITAT Kolkata
Clipped from: https://taxguru.in/income-tax/assessment-section-1432-notice-unsustainable-itat-kolkata.html Sandip Kumar Keshari Vs ITO (ITAT Kolkata) The Income Tax Appellate Tribunal (ITAT) Kolkata addressed the appeal of Sandip Kumar Keshari against the
*****Quicker credit data updates will aid underwriting: TransUnion CIBIL MD, CEO | Finance Interviews – Business Standard
Clipped from: https://www.business-standard.com/finance/interviews/quicker-credit-data-updates-will-aid-underwriting-transunion-cibil-md-ceo-125050400719_1.html CIs get fresher data when underwriting or extending additional lines of credit, says Bhavesh Jain Bhavesh Jain, managing director (MD) and chief executive
*****ITR-3 form simplified for AY 2025-26: Taxpayers with business income, capital gains split must note new rules – ITR 3 form simplified for AY 2025 26: Taxpayers with business income, capital gains split must note new rules BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/itr-3-form-simplified-for-ay-2025-26-taxpayers-with-business-income-capital-gains-split-must-note-new-rules-474550-2025-05-02 A key update in the ITR-3 form is a new schedule for reporting capital gains, allowing taxpayers to separately disclose gains accrued before
*****Allahabad HC rules GST Assessment Order u/s 62 incomplete without S. 46 Notice: Allahabad HC quashes Orders
Clipped from: https://www.taxscan.in/gst-assessment-order-u-s-62-incomplete-without-s-46-notice-allahabad-hc-quashes-orders/513316/ The Allahabad High Court has quashed the GST assessment and appellate orders issued against a company after finding that the assessment order under
*****ITR filing FY24-25: ITR-3 form notified by the CBDT: Know what this means for taxpayers; Who is eligible? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-3-form-notified-by-the-cbdt-know-what-this-means-for-taxpayers/articleshow/120819242.cms?from=mdr Synopsis ITR Filing Forms FY24-25: The CBDT has released the ITR-3 form for individuals and HUFs with business or professional income for FY
ITR notified by Income Tax department: Taxpayers can now disclose capital gains in ITR-1 | Business News – The Indian Express
Clipped from: https://indianexpress.com/article/business/itr-notified-by-income-tax-department-9974278/ Since the last date for filing TDS returns for the January-March quarter is May 31, the updated information is available only in the
*****ITR-3 form simplified for AY 2025-26: Taxpayers with business income, capital gains split must note new rules – ITR 3 form simplified for AY 2025 26: Taxpayers with business income, capital gains split must note new rules BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/itr-3-form-simplified-for-ay-2025-26-taxpayers-with-business-income-capital-gains-split-must-note-new-rules-474550-2025-05-02 A key update in the ITR-3 form is a new schedule for reporting capital gains, allowing taxpayers to separately disclose gains accrued before
*****What all has changed Form ITR-1 (Sahaj), Form ITR-4 (Sugam) for AY2025-26? Expert decodes forms for taxpayers – What all has changed Form ITR 1 (Sahaj), Form ITR 4 (Sugam) for AY2025 26? Expert decodes forms for taxpayers BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/what-all-has-changed-form-itr-1-sahaj-form-itr-4-sugam-for-ay2025-26-expert-decodes-forms-for-taxpayers-474535-2025-05-02 The I-T department has officially released simplified Income Tax Return (ITR) forms 1 and 4 for the assessment year (AY) 2025-26. These forms
As MF investor, are my gains excluded from the Section 87A rebate calculation under New Tax Regime in FY2025–26? – As MF investor, are my gains excluded from the Section 87A rebate calculation under New Tax Regime in FY2025–26? BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/as-mf-investor-are-my-gains-excluded-from-the-section-87a-rebate-calculation-under-new-tax-regime-in-fy2025-26-474519-2025-05-02 Section 87A offers a rebate to resident individuals with total incomes below a specified threshold. This rebate is subtracted from the income tax
*****New I-T return form eases disclosure burden for middle-income professionals – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/new-i-t-return-form-eases-disclosure-burden-formiddle-income-professionals-3830679/ CBDT notifies ITR-3 for AY 2025-26, easing disclosure for middle-income professionals. Key changes include higher asset threshold, split capital gains reporting, simplified deductions,
*****ITR Filing 2025: What taxpayers must know about sections 80C, 80D, 24B and more – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/itr-filing-2025-what-taxpayers-must-know-about-sections-80c-80d-24b-and-more-3830112/?ref=hometop_hp As taxpayers get ready to file their returns, it is crucial to understand the key sections of the Income Tax Act, 1961, that
*****Tax filing schedule: July 31 is the last date to file ITR for FY 2024-25 for non-audit taxpayers – Tax filing schedule: July 31 is the last date to file ITR for FY 2024 25 for non audit taxpayers BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/tax-filing-schedule-july-31-is-the-last-date-to-file-itr-for-fy-2024-25-for-non-audit-taxpayers-474346-2025-05-01 The deadline for filing Income Tax Returns for the financial year 2024-25 in India is set for 31st July 2025, with varying deadlines
*****YouTube paid ₹21,000 crore to Indian creators over the last three years | Entertainment News – Business Standard
Clipped from: https://www.business-standard.com/entertainment/youtube-paid-21-000-crore-to-indian-creators-over-the-last-three-years-125050100859_1.html Indian content is also finding a growing audience overseas. According to the company, videos produced in India generated 4,500 crore hours of watch
*****Life insurance covers death caused by terrorist attacks, with riders | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/life-insurance-covers-death-caused-by-terrorist-attacks-with-riders-125043001703_1.html Everyone with financial dependants should purchase life insurance. Individuals residing in sensitive or high-risk areas should make it a priority to buy this
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