Clipped from: https://www.taxscan.in/top-stories/itr-2-online-e-filing-enabled-late-yet-riddled-with-glitches-says-cas-and-tax-filers-1428339 Some tax filers complained that even basic features like HRA and LTA exemptions under the salary breakup are difficult to declare properly as
Category: Income Tax
Capital gain tax on mutual funds: Here’s what you need to know – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/capital-gain-tax-on-mutual-funds-heres-what-you-need-to-know-3922491/ The STCG is taxed at a rate of 20% for resident individuals, with effect from 23 July 2024, i.e. the date of presentation
Mutual fund taxation for AY 2025-26: Latest capital gain tax rules for equity mutual funds, debt mutual funds, international mutual funds, gold mutual funds, others – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/mutual-fund-taxation-for-ay-2025-26-latest-capital-gain-tax-rules-for-equity-mutual-funds-debt-mutual-funds-international-mutual-funds-gold-mutual-funds-others/articleshow/122830380.cms The capital gain tax rule for various categories of mutual funds has been updated in FY 2024-25. The new capital gain tax rules
Income Tax Reassessment Initiated During Pending Assessment Proceedings: Delhi HC Sets Aside Order for Lack of Jurisdiction [Read Order]
Clipped from: https://www.taxscan.in/top-stories/income-tax-reassessment-initiated-during-pending-assessment-proceedings-delhi-hc-sets-aside-order-for-lack-of-jurisdiction-1428180 The Court ruled that reassessment proceedings cannot be initiated unless the initial assessment is concluded The High Court of Delhi,set aside the reassessment order
‘File a form, skip the ITR?’: Govt could simplify TDS refunds for low income earners – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/file-a-form-skip-the-itr-govt-could-simplify-tds-refunds-for-low-income-earners-485449-2025-07-21 The government has reportedly accepted the committee’s recommendation and is expected to include it as an amendment to the Income-Tax Bill, 2025. The
*Sold property to save tax? This “safe” move could silently wipe out ₹9.6 lakh in returns – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/sold-property-to-save-tax-this-safe-move-could-silently-wipe-out-rs96-lakh-in-returns-485355-2025-07-19 If your only goal is to save every rupee in tax, 54EC bonds do their job. But for investors with time and the
*******Avoid penalties: Fix AIS discrepancies before submitting ITR; Here’s what to do – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/ais-discrepancies-correction-income-tax-department-ay-2025-26-485186-2025-07-18 If your Annual Information Statement (AIS) shows incorrect data, it’s important not to ignore it. Errors or mismatches in the AIS can lead
*******NRIs need not disclose foreign assets or income in ITR – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/nris-need-not-disclose-foreign-assets-or-income-in-itr-3919432/ NRIs with India-sourced income must file ITR using Form ITR-2, but need not disclose foreign assets or income unless resident. Learn rules on
*******You get tax benefit on top-up home loan; your queries answered – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/you-get-tax-benefit-on-top-up-home-loan-your-queries-answered-3919439/ Get clarity on tax benefits for top-up home loans, education loans, and F&O trading losses. Understand deductions under Sections 24(b), 80C, 80E, and
ITR Filing for FY 2024-25: Key guidelines to follow to avoid delayed refunds | Personal Finance News – The Indian Express
Clipped from: https://indianexpress.com/article/personal-finance/itr-filing-for-fy-2024-2025-rules-to-follow-to-avoidlate-refunds-10132314/ ITR Filing FY 2024-25, AY 2025-26: To avoid delays in income tax refunds for FY 2024-25 (AY 2025-26), it’s important to know that
ITR-2 filing FY 2024-25 begins online: Know the eligibility, new updates, and more
Clipped from: https://indianexpress.com/article/personal-finance/itr-2-filing-fy-2024-25-begins-online-know-the-eligibility-new-updates-10134038/ ITR-2 Filing FY 2024-25: The Income Tax Department has finally activated ITR-2 for online filing after a 100-day delay. Taxpayers can now file
Taxmann, EY India launch AI-powered platform for tax, legal professionals – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/info-tech/taxmann-ey-india-launch-ai-powered-platform-for-tax-legal-professionals/article69827075.ece The responses generated by Taxmann.AI are grounded in original, verifiable content from Taxmann, backed by enterprise-grade privacy and security of EY tax technology
1-*Online ITR-2 e-filing opens: what’s new in AY 2025-26, who needs to use form | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/itr-2-e-filing-opens-what-s-new-in-ay-2025-26-who-needs-to-use-form-125071800643_1.html Online tax form was delayed due to revisions that match legislative changes, say experts The Income Tax department on Friday enabled online filing
1***ITR 2 now live for online filing with pre filled data; six key changes taxpayers must note – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/itr-2-now-live-for-online-filing-with-pre-filled-data-six-key-changes-taxpayers-must-note-485175-2025-07-18 The department attributed the overall delay in releasing updated ITR utilities to recent legislative changes under the Finance Act 2024, prompting the extension
1***Avoid penalties: Fix AIS discrepancies before submitting ITR; Here’s what to do – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/ais-discrepancies-correction-income-tax-department-ay-2025-26-485186-2025-07-18 If your Annual Information Statement (AIS) shows incorrect data, it’s important not to ignore it. Errors or mismatches in the AIS can lead
Now file ITR-2 online with pre-filled data: A big relief for salaried taxpayers – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/now-file-itr-2-online-with-pre-filled-data-a-big-relief-for-these-taxpayers-3918475/ If you’ve been waiting to file your income tax return (ITR) under Form ITR-2, here’s some good news. The Income Tax Department has finally activated ITR-2 for
*****ITR Filing: Non-disclosure of foreign income, US stocks can lead to tax trouble – Income Tax News | The Financial Express
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
1***Capital gain on property: How to pay lower LTCG tax using indexation benefit – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/capital-gain-on-property-how-to-pay-lower-ltcg-tax-using-indexation-benefit/articleshow/122633971.cms How claiming indexation benefit can help you pay lower long term capital gains (LTCG) tax on real estate sale transactions Only transactions that
*****How to download Form 26AS for ITR filing FY 2024-25 (AY 2025-26)? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-to-download-form-26as-for-itr-filing-fy-2024-25-ay-2025-26/articleshow/122640481.cms Form 26 As details The Income Tax Department has extended the last date for filing income tax returns (ITR) from July 31, 2025, to September
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