lipped from: https://www.businesstoday.in/personal-finance/tax/story/section-87a-rebate-excludes-capital-gains-impacting-retail-investors-under-7-lakh-484730-2025-07-15 Changes in Income Tax Return (ITR) rules last year are set to impact retail investors, especially those opting for the new tax regime.
Category: Self Education
Political donations, medical claims: How to avoid I-T scrutiny on deductions | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/how-to-manage-tax-scrutiny-of-political-donations-medical-claims-125071500780_1.html Ignorance is not a defence and taxpayers have to give proof to justify claims, say experts The Income Tax Department has searched 200
*ITR myths that can cost you big: Don’t fall for TDS, gift or crypto loophole traps – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/itr-myths-that-can-cost-you-big-dont-fall-for-tds-gift-or-crypto-loophole-traps-484669-2025-07-15 As ITR filing for FY 2024–25 gathers momentum, a large number of taxpayers—ranging from salaried professionals and gig workers to small business owners—are
*******Claimed fake tax deductions? I T dept’s AI flags bogus HRA, loans claims, hefty penalties await – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/claimed-fake-tax-deductions-i-t-depts-ai-flags-bogus-hra-loans-claims-hefty-penalties-await-484683-2025-07-15 Utilising AI, the Income Tax Department targets fabricated deduction claims, resulting in the removal of Rs 1,045 crore in false entries by over
*40,000 taxpayers withdrew Rs 1,045-crore bogus ITR claims after income tax crackdown intensifies – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/action-against-tax-evaders-40000-taxpayers-withdraw-rs-1045-crore-bogus-itr-claims-after-income-tax-crackdown-3914716/ The Income Tax Department has initiated a major action against individuals who obtained tax refunds through false tax deductions and exemptions across the country. The
***ITR Filing 2025: Filed the wrong ITR form? You could lose your refund and face… – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/itr-filing-2025-filed-the-wrong-itr-form-you-could-lose-your-refund-and-face-3912526/ If your capital gains exceed ₹1.25 lakh, filing ITR-1 will make your return invalid. If your capital gains exceed ₹1.25 lakh, filing ITR-1
*******How to download AIS, TIS for ITR filing FY 2024-25 (AY 2025-26) – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-to-download-ais-tis-for-itr-filing-fy-2024-25-ay-2025-26/articleshow/122440627.cms How to download AIS Before submitting your Income Tax Return (ITR), you should have a thorough understanding of your financial activities as reported
1-Changing details on e-filing portal? Here’s how to e-verify them easily | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/changing-details-on-e-filing-portal-here-s-how-to-e-verify-them-easily-125071400791_1.html Have you updated your mobile, email or bank details on the income tax portal? Complete e-verification quickly to avoid delays in refunds and
Cost Inflation Index–what it is –Courtesy ET
Clipped from: https://economictimes.indiatimes.com/wealth/tax/what-is-cost-inflation-index-for-ltcg-tax-calculation-under-income-tax-rules/articleshow/122392522.cms Cost inflation index is a tool that helps measure the rise in cost due to inflation. What is cost inflation index? With each passing
*******ITR filing last date for FY 2024-25 is not same for all: Check due dates for salaried individuals, professionals, companies, proprietorship firms, other taxpayers – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-filing-last-date-for-fy-2024-25-is-not-same-for-all-check-due-dates-for-salaried-individuals-professionals-companies-proprietorship-firms-other-taxpayers/articleshow/122434862.cms The Income Tax Department extended the last date to file income tax returns (ITR) from July 31, 2025, to September 15, 2025, for
*******ITR verification process methods: 5 ways to e-Verify your Income Tax Return – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-verification-process-methods-5-ways-to-e-verify-your-income-tax-return/articleshow/122436556.cms Whether filing an Income Tax Return (ITR) or responding to tax notices, it is recommended to verify the process online for a seamless
*******Making these common mistakes with ITR-2 and ITR-3 while using excel based utilities? Here’s how you can fix it – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/doing-these-common-mistakes-with-itr-2-and-itr-3-while-using-excel-based-utilities-heres-how-you-can-fix-it/articleshow/122389389.cms Follow these four solutions to prevent corruption and other tax calculation mistakes with ITR-2 and ITR-3 excel based ITR filing utilities Now that
*****ITR-1, ITR-2, ITR-3 or ITR-4: Which form applies to your income for ITR filing FY 2024-25 (AY 2025-26)? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-1-itr-2-itr-3-or-itr-4-which-form-applies-to-your-income-for-itr-filing-fy-2024-25-ay-2025-26/articleshow/122385713.cms The Income Tax Department has notified the income tax return (ITR) forms for the financial year 2024-25 (assessment year 2025-26). This year’s ITR forms have
What is cost inflation index for LTCG tax calculation under income tax rules? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/what-is-cost-inflation-index-for-ltcg-tax-calculation-under-income-tax-rules/articleshow/122392522.cms Cost inflation index is a tool that helps measure the rise in cost due to inflation. What is cost inflation index? With each passing
*******Doing these common mistakes with ITR-2 and ITR-3 while using excel based utilities? Here’s how you can fix it – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/doing-these-common-mistakes-with-itr-2-and-itr-3-while-using-excel-based-utilities-heres-how-you-can-fix-it/articleshow/122389389.cms Follow these four solutions to prevent corruption and other tax calculation mistakes with ITR-2 and ITR-3 excel based ITR filing utilities Now that
1*****ITR Filing 2025: Filed the wrong ITR form? You could lose your refund and face… – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/itr-filing-2025-filed-the-wrong-itr-form-you-could-lose-your-refund-and-face-3912526/ Many individuals, unaware of the correct ITR form for their income sources, inadvertently submit ITR-1 despite having capital gains, foreign income, or professional
*’More money, less discipline?’ CoinSwitch co founder warns hidden trap of India’s new tax regime – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/more-money-less-discipline-coinswitch-co-founder-warns-hidden-trap-of-indias-new-tax-regime-484422-2025-07-13 He argues that India’s low digital tax participation is a blind spot, despite advancements making the system smarter. Yet, convenience hasn’t kept pace.
***Bitcoin gains? Here’s exactly how Indian investors must file and pay tax in 2025 – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/bitcoin-gains-heres-exactly-how-indian-investors-must-file-and-pay-tax-in-2025-484417-2025-07-13 Additionally, a 1% TDS (Tax Deducted at Source) is levied by crypto exchanges on every sale or trade over ₹10,000 annually (₹50,000 in
*******Reassessment Notices Invalid if Issued Beyond Surviving Period, Even If 14-Day Reply Procedure Followed: Gujarat HC [Read Order]
Clipped from: https://www.taxscan.in/top-stories/reassessment-notices-invalid-if-issued-beyond-surviving-period-even-if-14-day-reply-procedure-followed-gujarat-hc-1427582 The Gujarat High Court quashed a reassessment notice as invalid for being issued beyond the limitation period despite following the 14-day reply process
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