Clipped from: https://indianexpress.com/article/business/itr-notified-by-income-tax-department-9974278/ Since the last date for filing TDS returns for the January-March quarter is May 31, the updated information is available only in the
Category: Income Tax
*****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
*****What all has changed Form ITR-1 (Sahaj), Form ITR-4 (Sugam) for AY2025-26? Expert decodes forms for taxpayers – What all has changed Form ITR 1 (Sahaj), Form ITR 4 (Sugam) for AY2025 26? Expert decodes forms for taxpayers BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/what-all-has-changed-form-itr-1-sahaj-form-itr-4-sugam-for-ay2025-26-expert-decodes-forms-for-taxpayers-474535-2025-05-02 The I-T department has officially released simplified Income Tax Return (ITR) forms 1 and 4 for the assessment year (AY) 2025-26. These forms
As MF investor, are my gains excluded from the Section 87A rebate calculation under New Tax Regime in FY2025–26? – As MF investor, are my gains excluded from the Section 87A rebate calculation under New Tax Regime in FY2025–26? BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/as-mf-investor-are-my-gains-excluded-from-the-section-87a-rebate-calculation-under-new-tax-regime-in-fy2025-26-474519-2025-05-02 Section 87A offers a rebate to resident individuals with total incomes below a specified threshold. This rebate is subtracted from the income tax
*****New I-T return form eases disclosure burden for middle-income professionals – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/new-i-t-return-form-eases-disclosure-burden-formiddle-income-professionals-3830679/ CBDT notifies ITR-3 for AY 2025-26, easing disclosure for middle-income professionals. Key changes include higher asset threshold, split capital gains reporting, simplified deductions,
*****ITR Filing 2025: What taxpayers must know about sections 80C, 80D, 24B and more – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/itr-filing-2025-what-taxpayers-must-know-about-sections-80c-80d-24b-and-more-3830112/?ref=hometop_hp As taxpayers get ready to file their returns, it is crucial to understand the key sections of the Income Tax Act, 1961, that
*****Tax filing schedule: July 31 is the last date to file ITR for FY 2024-25 for non-audit taxpayers – Tax filing schedule: July 31 is the last date to file ITR for FY 2024 25 for non audit taxpayers BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/tax-filing-schedule-july-31-is-the-last-date-to-file-itr-for-fy-2024-25-for-non-audit-taxpayers-474346-2025-05-01 The deadline for filing Income Tax Returns for the financial year 2024-25 in India is set for 31st July 2025, with varying deadlines
Income Tax Returns: New ITR-1 form explained – What are the key changes notified this year? – Income Tax News | The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax-income-tax-returns-new-itr-1-form-explained-what-are-the-key-changes-notified-this-year-3829161/ The simplified form is designed for individuals and entities who earned up to Rs 50 lakh during the recently concluded financial year. The
CBDT simplifies ITR filing with key changes, notifies forms 1 and 4 for the assessment year (AY) 2025-26 – Income Tax News | The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax-income-tax-return-filing-key-changes-cbdt-notifies-forms-1-and-4-for-the-assessment-year-ay-2025-26-3827882/ Income Tax Department has simplified how taxpayers will file ITR returns. For the assessment year 2025-26, the forms ITR-1 (Sahaj) and ITR-4 (Sugam)
LTCG up to ₹1.25 lakh? You can now skip ITR-2 and file using Sahaj or Sugam forms – LTCG up to ₹1.25 lakh? You can now skip ITR 2 and file using Sahaj or Sugam forms BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/ltcg-up-to-rs125-lakh-you-can-now-skip-itr-2-and-file-using-sahaj-or-sugam-forms-474290-2025-05-01 Until now, even a small amount of LTCG required filing ITR-2. This change makes tax filing simpler and less time-consuming for small investors,
Income Tax Dept notifies ITR-1, ITR-4 forms – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/i-t-dept-notifies-itr-1-itr-4-forms/article69509100.ece The due date for filing returns by individuals and entities whose accounts are not subject to audit is July 31, 2025 After a
*****Tax Reassessment Invalidated Due to Procedural Defect in Notice Service Under Section 148 Proceedings
Clipped from: https://www.taxmanagementindia.com/web/tmi_highlights_details.asp?id=87893 ITAT adjudicated a tax reassessment case involving procedural … April 30, 2025 Case Laws Income Tax AT ITAT adjudicated
*****Tax Assessment Notices Invalidated Limitation Period Expired Tribunal Order Beyond Statutory Timeframe Renders Notices Null and Void
Clipped from: https://www.taxmanagementindia.com/web/tmi_highlights_details.asp?id=87895 HC upheld the petition, declaring assessment notices for AY … April 30, 2025 Case Laws Income Tax HC HC
*****Tax Reassessment Order Upheld Procedural Defects Cured Jurisdictional Challenge Rejected Appellate Remedies Available
Clipped from: https://www.taxmanagementindia.com/web/tmi_highlights_details.asp?id=87899 HC dismissed writ petitions challenging tax reassessment order. … April 30, 2025 Case Laws Income Tax HC HC dismissed
Tax Liability After Death Section 93 Requires Legal Representatives Notification Before Proceeding Against Deceased Taxpayer
Clipped from: https://www.taxmanagementindia.com/web/tmi_highlights_details.asp?id=87904 HC held that Section 93 addresses tax liability post-death but … April 30, 2025 Case Laws GST HC HC
Procedural Fairness Prevails Notice Defect Invalidates Demand Order Grants Petitioner 30-Day Response Window Under Natural Justice Principles
Clipped from: https://www.taxmanagementindia.com/web/tmi_highlights_details.asp?id=87900 HC ruled that the Petitioner was denied natural justice due to … April 30, 2025 Case Laws GST HC
*******Absence of cross-examination vitiates third-party statements: ITAT Nagpur
Clipped from: https://taxguru.in/income-tax/absence-cross-examination-vitiates-third-party-statements-itat-nagpur.html DCIT Vs Sanjay Gaurishankar Agrawal (ITAT Nagpur) 1. Facts of the Case 1.1 The assessee, Shri Sanjay Gaurishankar Agrawal, had received unsecured loans
*****No Tax on LTCG and STCG from equity mutual funds and shares: 4 situations explained – No Tax on LTCG and STCG from equity mutual funds and shares: 4 situations explained BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/paying-capital-gains-tax-on-mutual-fund-gains-know-when-you-can-avoid-473613-2025-04-25 LTCG from listed equity shares or equity-oriented mutual funds, typically taxed at 10% beyond Rs 1.25 lakh in gains, can be exempt if
*****Assessment of Deceased Person Under Income Tax Act, 1961
lipped from: https://taxguru.in/income-tax/assessment-deceased-person-income-tax-act-1961.html Chartered Accountants, Advocates, or Tax Practitioners normally advise their clients to prepare a WILL and clarify which assets will be given to whom.
*****No More Nil TDS Certificates Under New Tax Bill 2025: Impact on Indians and NRIs Explained
Clipped from: https://www.taxscan.in/no-more-nil-tds-certificates-under-new-tax-bill-2025-impact-on-indians-and-nris-explained/510176/ The proposed Income Tax Bill 2025 has removes the option to obtain a Nil TDS certificate for all the taxpayers, including Indian residents
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