Clipped from: https://www.business-standard.com/finance/news/income-tax-bill-2025-digital-data-and-the-question-of-power-and-privacy-125062700802_1.html A Parliamentary Select Committee reviewing the Bill is expected to submit its report during the monsoon session Two specific sections have been in
Category: Income Tax
*******New ITR filing rules demand more disclosures: Here’s what taxpayers need to know for AY 2024 25 – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/new-itr-filing-rules-demand-more-disclosures-heres-what-taxpayers-need-to-know-for-ay-2024-25-482301-2025-06-28 Filing your ITR for AY 2024-25 will now involve stricter rules, with the Income Tax Department demanding more detailed disclosures for popular deductions.
Filing ITR without any CA help? Avoid making THESE 5 costly mistakes – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/filing-itr-without-any-ca-help-avoid-making-these-5-costly-mistakes-3896169/ Filing your Income Tax Return (ITR) for FY 2024-25? The deadline has been extended to September 15, 2025. Here’s how salaried individuals can
Can you download Form 16, Form 16A, other TDS certificates from TRACES website if your tax has been deducted? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/can-you-download-form-16-form-16a-other-tds-certificates-from-traces-website-if-your-tax-has-been-deducted/articleshow/122125200.cms At times, it happens that the taxpayer does not receive Form 16 or Form 16A. Form 16 or Form 16A is a TDS certificate
*******Income tax ITR forms update 2024 25 new rules Form 10 IEA share buybacks dividend treatment – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/income-tax-itrs-update-2024-25-new-rules-form-10-iea-share-buybacks-482164-2025-06-27 The Income Tax Department has rolled out significant changes for the financial year 2024-25 (assessment year 2025-26), updating validation rules for income tax
*******ITR AY2025 26: File your taxes right or face 200% penalty and jail, cautions CA – BusinessToday
lipped from: https://www.businesstoday.in/personal-finance/tax/story/file-itr-accurately-or-risk-hefty-fines-interest-jail-time-warns-ca-anupam-sharma-482253-2025-06-27 With tax season underway for Assessment Year 2025-26, experts are warning taxpayers to avoid errors in their income tax returns that could trigger
*******Pay additional taxes now on FY25 income to save on interest outgo – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/pay-additional-taxes-now-on-fy25-income-to-save-on-interest-outgo-3895468/ While the Income Tax Return (ITR) filing deadline for AY 2025-26 has been extended to September 15, 2025, taxpayers are urged to pay
*******Declare side hustle income in ITR – Money News | The Financial Express
lipped from: https://www.financialexpress.com/money/declare-side-hustle-income-in-itr-3895520/ Understanding tax obligations for additional income is crucial for AY 2025-26. This guide details how to report earnings from side hustles, fixed deposits
*******Income tax ITR forms update 2024 25 new rules Form 10 IEA share buybacks dividend treatment – BusinessToday
lipped from: https://www.businesstoday.in/personal-finance/tax/story/income-tax-itrs-update-2024-25-new-rules-form-10-iea-share-buybacks-482164-2025-06-27 The Income Tax Department has rolled out significant changes for the financial year 2024-25 (assessment year 2025-26), updating validation rules for income tax
*******New ITR Scrutiny Rules for FY 2025-26: These ITR Filers Will Face Mandatory Investigation – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/new-income-tax-rules-2025-tax-authorities-will-investigate-your-itr-if-tds-claim-is-3894448/ The Income Tax Return (ITR) filing for the financial year 2024-25 (Assessment Year 2025-26) has picked up pace with more than 60 lakh
*******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 Form 26AS, AIS and TIS are a few key documents which taxpayers must view before filing their income tax returns.. The Annual Information Statement (AIS), the Taxpayer Information Summary (TIS),
*******Received salary from two employers in FY 2024-25? Here’s how to file your ITR correctly – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/received-salary-from-two-employers-in-fy-2024-25-heres-how-to-file-your-itr-correctly-3892254/ Here’s a simple step-by-step guide to help you file your ITR correctly, reduce errors, and stay compliant while maximising your eligible tax benefits.
*******Can you legally claim both HRA and home loan interest deductions in ITR? Here’s what income tax rules say – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/can-you-legally-claim-both-hra-and-home-loan-interest-deductions-in-itr-heres-what-income-tax-rules-say-3892319/ ITR Filing AY 2025-26: One common question most taxpayers grapple with every year when they file their income tax return (ITR) is if
*******New ITR rules: Penalty up to 200% on claiming false deductions – Income Tax News | The Financial Express
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
*******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