Clipped from: https://www.financialexpress.com/money/income-tax-income-tax-return-2025-how-to-file-itr-without-form-16-check-out-these-easy-alternative-documents-3846430/ Form 16 or Form 16A is the certificate of deduction of tax at source. It is issued on deduction of tax by the
Category: Income Tax
*******First time taxpayer? One mistake in your capital gains report could trigger a tax notice – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/first-time-taxpayer-one-mistake-in-your-capital-gains-report-could-trigger-a-tax-notice-476401-2025-05-15 Filing income tax returns for the first time can be daunting, particularly when dealing with capital gains. It is crucial to accurately report
*******Pay zero tax on stock, MF gains? Here’s how investors can use capital losses to wipe out liability – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/stock-mf-investors-heres-how-investors-can-use-capital-losses-to-wipe-out-liability-in-ay2025-26-476425-2025-05-15 With equity markets turning choppy in FY 2025–26, many investors are sitting on a mix of gains and losses. But here’s the upside—those
*****Learn why RBI’s 180-day rule complicates gifting money to NRI children abroad
Clipped from: https://www.taxscan.in/gifting-money-to-nri-children-why-the-rbis-180-day-rule-is-a-hidden-hurdle/517151/ In today’s globalized world, it is quite common for Indian parents to financially support their children who have settled abroad—whether for educational expenses,
*****ITR Forms for AY 2025 26 released: Capital Gains reporting simplified for taxpayers in different tax forms – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/itr-forms-for-ay-2025-26-released-capital-gains-reporting-simplified-for-taxpayers-in-different-tax-forms-476070-2025-05-13 The CBDT has notified all seven Income Tax Return (ITR) forms for AY 2025-26, incorporating new capital gains rules. This update aligns with
*****Salaried taxpayers could have saved Rs 49,094 in taxes; here’s what to avoid, note during tax filing – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/salaried-taxpayers-could-have-saved-rs-49094-in-taxes-heres-what-to-avoid-note-during-tax-filing-476088-2025-05-13 Taxpayers tend to make common mistakes, like selecting the wrong tax regime or missing out on corporate NPS benefits. DIY tax filing often
*****Tax talk: Pick the right ITR form this year – Income Tax News | The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax-tax-talk-pick-the-right-itr-form-this-year-3839168/ Learn about key changes in ITR forms for AY 2025–26, including exempt capital gains in ITR-1 & ITR-4, updated capital gains reporting in
*****7 ITR Forms notified with changes for AY 2025-26: Here’s how to select the right one for you – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/7-itr-forms-notified-with-changes-for-ay-2025-26-heres-how-to-select-the-right-one-for-you-3842921/ The Central Board of Direct Taxes (CBDT) has released a new set of Income Tax Return (ITR) forms — which will be applicable
Assessee Ineligible for Deduction under Section 54B in lieu of land purchases in Wife’s name: ITAT [Read Order]
lipped from: https://www.taxscan.in/assessee-ineligible-for-deduction-under-section-54b-in-lieu-of-land-purchases-in-wifes-name-itat/516321/ The bench after relying on the judgments of the High Courts concluded that the assessee cannot claim any deduction under section 54B for
*******Tax calculation: Here’s a capital gains tax hack on how to use losses smartly to lower your FY26 tax outgo – Tax calculation: Here’s a capital gains tax hack on how to use losses smartly to lower your FY26 tax outgo BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/tax-calculation-heres-a-capital-gains-tax-hack-on-how-to-use-losses-smartly-to-lower-your-fy26-tax-outgo-475774-2025-05-10 The Income-tax Act of 1961 outlines set guidelines for offsetting capital gains and losses. This enables taxpayers to deduct losses from gains effectively,
*****Tax calculation: Here’s a capital gains tax hack on how to use losses smartly to lower your FY26 tax outgo – Tax calculation: Here’s a capital gains tax hack on how to use losses smartly to lower your FY26 tax outgo BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/tax-calculation-heres-a-capital-gains-tax-hack-on-how-to-use-losses-smartly-to-lower-your-fy26-tax-outgo-475774-2025-05-10 The Income-tax Act of 1961 outlines set guidelines for offsetting capital gains and losses. This enables taxpayers to deduct losses from gains effectively,
*******ITR Filing 2025: Common mistakes that can cost you big – Money News | The Financial Express
lipped from: https://www.financialexpress.com/money/itr-filing-2025-common-mistakes-that-could-cost-you-big-3839675/ With ITR forms for FY 2024-25 already available, now is the ideal time to prepare and avoid last-minute mistakes. As the July 31
?*******ITR-4 (Sugam) decoded: Who can file, what’s new for AY 2025–26 — check details – ITR 4 (Sugam) decoded: Who can file, what’s new for AY 2025–26 check details BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/itr-4-sugam-decoded-who-can-file-whats-new-for-ay-2025-26-check-details-475268-2025-05-08 A major update for AY 2025–26 is that taxpayers with long-term capital gains of up to Rs 1.25 lakh can now also use
*******ITR filing 2025: Choosing old tax regime? Form 10-IEA is mandatory — check details – ITR filing 2025: Choosing old tax regime? Form 10 IEA is mandatory check details BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/itr-filing-2025-choosing-old-tax-regime-form-10-iea-is-mandatory-check-details-475686-2025-05-10 When filing income tax returns for FY 2024-25 (AY 2025-26), salaried individuals, professionals, and pensioners must choose between the New and Old Tax
*******Filing your taxes for FY25? Here’s how to pick the right ITR form based on your income type – Filing your taxes for FY25? Here’s how to pick the right ITR form based on your income type BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/tax-filing-2025-how-itr-form-1-is-different-from-itr-form-3-or-itr-form-5-how-can-make-the-right-choice-475697-2025-05-10 Taxpayers can now file their returns for FY 2024–25 using the latest ITR forms notified by the Income Tax Department. Forms ITR-1 to
*******Income Tax Return Filing: Complete ITR Form 1 Checklist for AY 2025-26
Clipped from: https://www.taxscan.in/income-tax-return-filing-complete-itr-form-checklist-for-ay/514406/?utm_source=signinbutton&utm_medium=txn&utm_campaign=checkoutsigninbtn For individual taxpayers with basic income sources, ITR Form 1 (Sahaj) is a one-page income tax return form. To make tax filing easier
*******SC Dismisses Reassessment Case for Non-Compliance with Section 148A
Clipped from: https://taxguru.in/income-tax/sc-dismisses-reassessment-case-non-compliance-section-148a.html ITO Vs R.K. Build Creations Private Limited (Supreme Court of India) The Supreme Court of India has dismissed a Special Leave Petition filed
*****ITR filing 2025: ITR forms 1, 2, 3, 4 and 5 notified for FY 2024-25; key differences explained for taxpayers – ITR filing 2025: ITR forms 1, 2, 3, 4 and 5 notified for FY 2024 25; key differences explained for taxpayers BusinessToday
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
*****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
ITAT Bar body flags high pendency of income tax cases at Delhi benches | Economy & Policy News – Business Standard
Clipped from: https://www.business-standard.com/economy/news/itat-bar-body-flags-high-pendency-of-income-tax-cases-at-delhi-benches-125050501124_1.html The Bar association claimed that Delhi has the “highest pendency” of cases among ITAT Benches, many involving complex legal issues and high revenue
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