Clipped from: https://www.financialexpress.com/money/income-tax-new-itr-rules-penalty-up-to-200-percent-on-claiming-false-deductions-3890837/ Even small errors in filing ITR can lead to a big trouble. Here are some common mistakes that you should avoid. Even if
Category: Income Tax
*******Documents for ITR filing FY 2024-25 (AY 2025-26): Eight documents you need to file income tax return – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/documents-for-itr-filing-fy-2024-25-ay-2025-26-eight-documents-you-need-to-file-income-tax-return/articleshow/122040555.cms The last date to file income tax return for FY 2024-25 (AY 2025-26) has been extended from July 31, 2025, to September 15, 2025, by
*******Income Tax tightens Scrutiny on Big Spenders: Here’s How to Avoid Notices on High Value Transactions
Clipped from: https://www.taxscan.in/top-stories/income-tax-tightens-scrutiny-on-big-spenders-heres-how-to-avoid-notices-on-high-value-transactions-1425747 Taxpayers are urged to be diligent, accurate, and transparent in their disclosures in ITRs As the income tax return (ITR) filing season for FY 2024-25
*******Income Tax Rectification: Time Limits and Grounds for Seeking Rectification u/s 154
Clipped from: https://www.taxscan.in/top-stories/taxscan-360-income-tax-rectification-time-limits-and-grounds-for-seeking-rectification-us-154-1425778 The Supreme Court has clarified that mistakes requiring long-drawn arguments or where two opinions are possible do not fall within the ambit of
*******ITR-3 Filing Guide: Who Should File and Key Deadlines for FY 2025-26
Clipped from: https://www.deccanherald.com/business/everything-you-need-to-know-about-filing-itr-form-3-3532878 The Income Tax department has notified ITR form 3 to be filed by individuals and Hindu Undivided Family (HUF) having income from business
*******Policy easing call this cycle to be more data-dependent: MPC member Saugata | Economy Interviews – Business Standard
Clipped from: https://www.business-standard.com/economy/interviews/policy-easing-call-this-cycle-to-be-more-data-dependent-125062200700_1.html This (West Asia conflict) is just one of the sources of uncertainty, albeit the 800 pound gorilla at the moment Saugata Bhattacharya, Member
*******ITR e-filing FY 2024-25: What is the benefit of pre-filled ITR forms on the income tax portal? Top points – Times of India
Clipped from: https://timesofindia.indiatimes.com/business/financial-literacy/taxation/itr-e-filing-fy-2024-25-what-is-the-benefit-of-pre-filled-itr-forms-on-the-income-tax-portal-top-points/articleshow/121953183.cms Income Tax Return Filing FY 2024-25: The Income Tax Department has been aiming to make the e-filing of income tax returns easier for
*******ITR Filing 2025: Taxpayers demand early release of Excel utility for ITR-2 and ITR-3 – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/itr-filing-2025-when-will-offline-utilities-for-itr-2-and-itr-3-be-released-users-seek-clarity-3889690/ While the Excel utility for ITR-1 and ITR-4 is already available, taxpayers are urging the Income Tax Department to release the utilities for
*******ITR filing due date extended but deadline to pay final tax without penalty is July 31 or Sept 15 now for FY 2024-25? – The Economic Times
lipped from: https://economictimes.indiatimes.com/wealth/tax/itr-filing-due-date-extended-but-deadline-to-pay-final-tax-without-penalty-is-july-31-or-sept-15-now-for-fy-2024-25/articleshow/122018340.cms The income tax department has extended the due date to file an income tax return for FY 2024-25 (AY 2025-26) from July 31, 2025, to
*******ITR 3 – What is ITR 3 Form and How to File ITR-3?
Clipped from: https://cleartax.in/s/itr3 The ITR-3 form is specifically designed for individuals and Hindu Undivided Families (HUFs) engaged in business or profession, who are required to maintain books of accounts.
*******ITR filing FY 2024-25: Taxpayers take note! These 7 changes in new ITR forms excel utilities are important – Times of India
Clipped from: https://timesofindia.indiatimes.com/business/financial-literacy/taxation/itr-filing-fy-2024-25-taxpayers-take-note-these-7-changes-in-new-itr-forms-excel-utilities-are-important/articleshow/121652901.cms The income tax department has introduced new validation rules in the Excel-based ITR-1 and ITR-4 forms for FY 2024–25 (AY 2025–26), requiring more
*******ITR Filing FY 2024-25: Have you got an Income Tax notice? Don’t ignore it! Top types of tax notices & actions required – Times of India
Clipped from: https://timesofindia.indiatimes.com/business/financial-literacy/taxation/itr-filing-fy-2024-25-have-you-got-an-income-tax-notice-dont-ignore-it-top-types-of-tax-notices-actions-required/articleshow/121724945.cms ITR filing FY 2024-25: As the Income Tax Return filing season for FY 2024-25 (AY 2025-26) begins, it’s important to understand that merely
*******ITR filing FY 2024-25: Several changes in Form 16! Top things salaried taxpayers shouldn’t miss – Times of India
Clipped from: https://timesofindia.indiatimes.com/business/financial-literacy/taxation/itr-filing-fy-2024-25-several-changes-in-form-16-top-things-salaried-taxpayers-shouldnt-miss/articleshow/121776720.cms ITR filing FY 2024-25: By June 15, 2025, employers must issue Form 16 to their salaried taxpayers for the fiscal year 2024-25. This
*******ITR e-filing AY 2025-25: What is Annual Information Statement (AIS) and how is it different from Form 26AS? Top points for taxpayers – Times of India
Clipped from: https://timesofindia.indiatimes.com/business/financial-literacy/taxation/itr-e-filing-ay-2025-25-what-is-annual-information-statement-ais-and-how-is-it-different-from-form-26as-top-points-for-taxpayers/articleshow/121958024.cms ITR filing FY 2024-25: When filing your income tax return for FY 2024-25 (AY 2025-26), the Annual Information Statement is an important document
*******ITR filing FY 2024-25: Do you need to file your income tax return if TDS has been deducted? Explained – Times of India
lipped from: https://timesofindia.indiatimes.com/business/financial-literacy/taxation/itr-filing-fy-2024-25-do-you-need-to-file-your-income-tax-return-if-tds-has-been-deducted-explained/articleshow/121912578.cms ITR filing FY 2024-25: It’s that time of the year when every taxpayer gets together documents to file their income tax return. This
*******ITR e-filing FY 2024-25: What is the benefit of pre-filled ITR forms on the income tax portal? Top points – Times of India
Clipped from: https://timesofindia.indiatimes.com/business/financial-literacy/taxation/itr-e-filing-fy-2024-25-what-is-the-benefit-of-pre-filled-itr-forms-on-the-income-tax-portal-top-points/articleshow/121953183.cms Income Tax Return Filing FY 2024-25: The Income Tax Department has been aiming to make the e-filing of income tax returns easier for
*******Didn’t report your crypto earnings? Income tax dept sending tax notices, conducting search & seizure for undisclosed income; know your options – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/didnt-report-your-crypto-earnings-income-tax-dept-sending-tax-notices-conducting-search-seizure-for-undisclosed-income-know-your-options/articleshow/121987926.cms Didn’t report your crypto earnings? Income tax dept sending tax notices, conducting search undefined know your options The Income Tax department has sent bulk emails
Faster tax refunds ahead: NPCI enables real time PAN and bank account checks – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/npci-pan-validation-api-bank-account-linking-tax-refunds-481257-2025-06-20 The National Payments Corporation of India (NPCI) has launched a new real-time validation facility for PAN and bank account details, aimed at streamlining
Foreign asset declarations jump 45% as I T dept cracks down on unreported income, says Finance Ministry – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/foreign-asset-declarations-jump-45-as-i-t-dept-cracks-down-on-unreported-income-says-finance-ministry-481263-2025-06-20 The government said as many as 24,678 taxpayers reviewed their Income Tax Returns (ITRs) and 5,483 taxpayers filed belated returns for the Assessment
*******Tax relief: First time homebuyers are missing a Rs 50,000 tax break — even banks don’t flag it, says expert – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/section-80ee-tax-deduction-first-time-homebuyers-missed-savings-481266-2025-06-20 Many first-time homebuyers are unknowingly missing out on a valuable tax benefit—an additional ₹50,000 deduction under Section 80EE of the Income Tax Act.
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