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
Category: Income Tax
?*******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
*******ITR-3 form simplified for AY 2025-26: Taxpayers with business income, capital gains split must note new rules – ITR 3 form simplified for AY 2025 26: Taxpayers with business income, capital gains split must note new rules BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/itr-3-form-simplified-for-ay-2025-26-taxpayers-with-business-income-capital-gains-split-must-note-new-rules-474550-2025-05-02 A key update in the ITR-3 form is a new schedule for reporting capital gains, allowing taxpayers to separately disclose gains accrued before
*****Assessee Proves Loan Repayment & Discharges Section 68 Onus – ITAT deletes addition
Clipped from: https://taxguru.in/income-tax/assessee-proves-loan-repayment-discharges-section-68-onus-itat-deletes-addition.html Wow Entertainment and Media Private Limited Vs ACIT (ITAT Mumbai) The Income Tax Appellate Tribunal (ITAT) Mumbai heard an appeal by Wow Entertainment
*****Assessment without Section 143(2) notice is unsustainable: ITAT Kolkata
Clipped from: https://taxguru.in/income-tax/assessment-section-1432-notice-unsustainable-itat-kolkata.html Sandip Kumar Keshari Vs ITO (ITAT Kolkata) The Income Tax Appellate Tribunal (ITAT) Kolkata addressed the appeal of Sandip Kumar Keshari against the
*******How Small Businesses can Optimize Tax Benefits under Income Tax Act 1961
Clipped from: https://taxguru.in/income-tax/small-businesses-optimize-tax-benefits-income-tax-act-1961.html In India, small businesses form the backbone of the economy, contributing significantly to GDP and employment. However, many small business owners often miss
Change of opinion on scrutinised issue: SC quashes Reopening Notice
Clipped from: https://taxguru.in/income-tax/change-opinion-scrutinised-issue-sc-quashes-reopening-notice.html ACIT Vs Marico Ltd. (Supreme Court of India) Supreme Court of India has upheld a High Court decision that set aside a notice
*****ITR-3 form simplified for AY 2025-26: Taxpayers with business income, capital gains split must note new rules – ITR 3 form simplified for AY 2025 26: Taxpayers with business income, capital gains split must note new rules BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/itr-3-form-simplified-for-ay-2025-26-taxpayers-with-business-income-capital-gains-split-must-note-new-rules-474550-2025-05-02 A key update in the ITR-3 form is a new schedule for reporting capital gains, allowing taxpayers to separately disclose gains accrued before
*****New ITR-5 form is here: Capital gains, buyback loss and TDS rule changes explained – New ITR 5 form is here: Capital gains, buyback loss and TDS rule changes explained BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/new-itr-5-form-is-here-capital-gains-buyback-loss-and-tds-rule-changes-explained-474589-2025-05-03 You’ll now need to specify the exact section under which TDS was deducted (like 194A for interest, 194C for contracts). The new ITR-5
*****Section 69 Addition Unsustainable Without Evidence Beyond Accused’s Confession
Clipped from: https://taxguru.in/income-tax/addition-u-s-69-based-mere-confession-accused-credible-evidence-sustainable.html Brij Kishore Kochar Vs ACIT (ITAT Delhi) ITAT Delhi held that mere confession of accused cannot be a ground for conviction since the
*****ITR-3 form simplified for AY 2025-26: Taxpayers with business income, capital gains split must note new rules – ITR 3 form simplified for AY 2025 26: Taxpayers with business income, capital gains split must note new rules BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/itr-3-form-simplified-for-ay-2025-26-taxpayers-with-business-income-capital-gains-split-must-note-new-rules-474550-2025-05-02 A key update in the ITR-3 form is a new schedule for reporting capital gains, allowing taxpayers to separately disclose gains accrued before
New ITR-5 form is here: Capital gains, buyback loss and TDS rule changes explained – New ITR 5 form is here: Capital gains, buyback loss and TDS rule changes explained BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/new-itr-5-form-is-here-capital-gains-buyback-loss-and-tds-rule-changes-explained-474589-2025-05-03 You’ll now need to specify the exact section under which TDS was deducted (like 194A for interest, 194C for contracts). The new ITR-5
*****ITR filing FY24-25: ITR-3 form notified by the CBDT: Know what this means for taxpayers; Who is eligible? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-3-form-notified-by-the-cbdt-know-what-this-means-for-taxpayers/articleshow/120819242.cms?from=mdr Synopsis ITR Filing Forms FY24-25: The CBDT has released the ITR-3 form for individuals and HUFs with business or professional income for FY
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