Clipped from: https://www.businesstoday.in/personal-finance/tax/story/this-itr-default-could-trigger-penalty-beware-if-stcg-or-ltcg-crosses-rs5-lakh-total-income-485798-2025-07-23 For example, a taxpayer earning ₹3 lakh in salary and ₹3 lakh in STCG has a total income of ₹6 lakh. While slab
Category: Income Tax
*****Missed this new July 23 tax rule? You might overpay capital gains on your ITR 2025 – BusinessToday
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%
*******How much tax do NRIs pay on selling property in India? Here’s what changed after Budget 2024 25 – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/nri-property-tax-changes-budget-2024-ltcg-no-indexation-higher-tds-485974-2025-07-23 Budget 2024-25 introduced significant changes to the way NRIs are taxed on property sales in India. One of the major shifts is the
*******CBDT to ramp up AI-led crackdown on tax evasion ahead of new income tax law: Chairman Ravi Agrawal – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/cbdt-to-ramp-up-ai-led-crackdown-on-tax-evasion-ahead-of-new-income-tax-law-chairman-ravi-agrawal/articleshow/122866379.cms Synopsis The Central Board of Direct Taxes will intensify efforts to combat tax evasion. They plan to use data analytics and artificial intelligence.
***Nil ITR: Should you file a return if income is below taxable limit? Absolutely, say experts – BusinessToday
lipped from: https://www.businesstoday.in/personal-finance/tax/story/nil-itr-should-you-file-a-return-if-income-is-below-taxable-limit-absolutely-say-experts-485924-2025-07-23 Even if your income is below the taxable limit, filing an Income Tax Return (ITR) can offer major advantages. A Nil ITR helps
*Got an I T notice after filing your return? Here’s how to decode and respond fast – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/income-tax-notice-response-after-itr-filing-485913-2025-07-23 Receiving an income tax notice after filing your ITR can be unsettling—but it doesn’t always signal trouble. With digitisation of tax data, even
*Missed this new July 23 tax rule? You might overpay capital gains on your ITR 2025 – BusinessToday
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%
Can I buy a new house with home loan and pay it off soon when my old house is sold? Will I get capital gain tax benefit? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/can-i-buy-a-new-house-with-home-loan-and-pay-it-off-soon-when-my-old-house-is-sold-will-i-get-capital-gain-tax-benefit/articleshow/122856299.cms I am trying to sell a 3-BHK flat that I own, but the sale is taking time. Meanwhile, the new flat I intend
1*******Discrepancy in AIS? Income tax department explains how to resolve it easily – Money News | The Financial Express
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 1.13
1*******AIS/26AS Mismatch May Trigger Tax Notices: What Taxpayer Should Know
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
Relief to IT deductor, collector as deadline to avoid TDS/TCS defaults extended – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/relief-to-it-deductor-collector-as-deadline-to-avoid-tdstcs-defaults-extended/article69842747.ece CBDT introduces a two-month window for payments made on or after August 1 Income Tax Act mandates Aadhaar-PAN linking within prescribed timelines, failing
Use a revised or updated income tax return to correct bogus deductions
Clipped from: https://www.business-standard.com/finance/personal-finance/use-a-revised-or-updated-income-tax-return-to-correct-bogus-deductions-125072100941_1.html Once scrutiny, surveys, or raids begin, correction options are no longer available One of the most exploited provisions is Section 10(13A), which permits
Tax refund scam alert: Don’t fall for that ‘manual verification’ email | Personal Finance – Business Standard
lipped from: https://www.business-standard.com/finance/personal-finance/tax-refund-scam-alert-don-t-fall-for-that-manual-verification-email-125072200446_1.html Government warns taxpayers about phishing attempts to gather their financial information PIB fact check Listen to This Article An email falsely claiming to
*******Discrepancy in AIS? Income tax department explains how to resolve it easily – Money News | The Financial Express
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
*******Is filing ITR tougher this year? Experts decode new tax return forms, tax refund delays, and stricter scrutiny – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/is-filing-itr-tougher-this-year-experts-decode-new-tax-return-forms-tax-refund-delays-and-stricter-scrutiny/articleshow/122834140.cms Income tax refund As the tax filing season for FY 2024-25 (AY 2025-26) begins, taxpayers are preparing to file their Income Tax Return
What is Form 26AS, AIS and TIS in income tax? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/what-is-form-26as-ais-and-tis-in-income-tax/articleshow/122094661.cms What is Form 26AS, AIS and TIS in income tax? Form 26AS, AIS and TIS are a few key documents which taxpayers must view before
1-Comprehensive*******Understanding AIS and TIS in Income Tax Filing: Explained
clipped from: https://www.taxbuddy.com/blog/ais-and-tis-in-income-tax For many people, filing their income taxes is a rather difficult task. To file an accurate and compliant return and avert any prospective
How to Interpret AIS and TIS on the Income Tax Portal: A Comprehensive Overview
Clipped from: https://1finance.co.in/blog/how-to-interpret-ais-and-tis-on-the-income-tax-portal-a-comprehensive-overview/ Navigating through the income tax process can often be a daunting task, particularly with several tax-related documents involved. Two critical documents available on
Annual Information Statement (AIS) – How to Check, Password Format, Features, Benefits
Clipped from: https://cleartax.in/s/new-annual-information-statement-ais The Annual Information Statement (AIS) is a detailed summary of a taxpayer’s information which is given in Form 26AS. In addition to the
What is The Difference Between AIS and TIS?
Clipped from: https://ampuesto.in/blog/what-is-the-difference-between-ais-and-tis/ Introduction Understanding the Annual Information Statement (AIS) and Taxpayer Information Summary (TIS) is crucial for seamless tax compliance. Both tools play distinct yet
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