Category: Self Education

Clipped from: https://economictimes.indiatimes.com/wealth/tax/error-in-itr-2-online-utility-ca-highlights-technical-bug-which-may-lead-to-taxpayers-with-capital-gains-income-carry-forward-loss-getting-scrutiny-notices-later/articleshow/123040021.cms CAs highlight about technical bugs on the utility due to which taxpayers with capital gains income, carry forward loss can get scrutiny notices

Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-filing-2025-who-can-file-itr-2-who-cannot-file-it-for-fy-2024-25-ay-2025-26/articleshow/123039779.cms ITR 2 details Taxpayers must select the appropriate Income Tax Return (ITR) form according to their financial profile and sources of income once

Clipped from: https://economictimes.indiatimes.com/wealth/tax/step-by-step-guide-on-how-to-file-itr-1-with-non-taxable-ltcg-income-salary-others-using-the-excel-utility/articleshow/123011368.cms Step-by-step guide on how to file ITR with non-taxable LTCG income, salary, others using online e-filing ITR excel utility The Income Tax Return ITR-1 form

Clipped from: https://www.businesstoday.in/personal-finance/tax/story/want-to-stay-off-the-income-tax-radar-expert-says-never-cross-these-limits-then-487309-2025-07-31 Everyday transactions like large cash deposits or credit card payments can trigger an income tax notice if they exceed certain limits. Knowing these

Clipped from: https://economictimes.indiatimes.com/wealth/tax/step-by-step-guide-on-how-to-file-itr-1-with-non-taxable-ltcg-income-salary-others-using-the-excel-utility/articleshow/123011368.cms Step-by-step guide on how to file ITR with non-taxable LTCG income, salary, others using online e-filing ITR excel utility The Income Tax Return ITR-1 form

Clipped from: https://www.businesstoday.in/personal-finance/tax/story/invalid-itrs-refunds-restored-compliance-fixed-burden-eased-for-taxpayers-check-details-487097-2025-07-30 Previously, the deadline for processing such returns — most recently set as December 31, 2024, for Assessment Year 2023–24 — had expired. In

Clipped from: https://www.taxscan.in/top-stories/limit-of-60-assignments-per-capartner-icai-officially-notifies-new-tax-audit-cap-from-ay-2026-27-1429018 These revised limits will supersede all previous guidelines on the subject and replace Chapter VI of the 2008 Council General Guidelines, which will

Clipped from: https://www.taxscan.in/top-stories/notice-us-148-issued-after-expiration-of-years-without-permission-from-pr-chief-commissioner-itat-rules-proceedings-invalid-for-statutory-violation-1428986 The Tribunal quashed reassessment proceedings under Section 148 of the Income Tax Act, 1961, ruling them invalid due to the Assessing Officer’s failure

Clipped from: https://www.business-standard.com/finance/personal-finance/man-75-gets-i-t-notice-for-a-10-year-old-return-here-s-what-law-says-125073001089_1.html Even time-barred income tax demands can resurface under specific provisions. Experts explain how to deal with them, especially for elderly taxpayers. A Reddit

Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-alert-if-you-meet-any-of-these-8-conditions-tax-return-filing-is-a-must/articleshow/122992562.cms According to income tax laws, you have to file an income tax return if your gross taxable income goes over the basic exemption

Clipped from: https://economictimes.indiatimes.com/wealth/tax/income-tax-department-enables-updated-return-filing-for-these-two-years-check-details/articleshow/122991687.cms The Income Tax Department has now enabled utilities for filing updated income tax returns (ITR-U) in ITR-1 and ITR-2 for the assessment years (AY) 2021-22

Clipped from: https://economictimes.indiatimes.com/wealth/tax/online-itr-3-filing-enabled-income-taxpayers-with-share-trading-unlisted-shares-investment-professional-business-other-incomes-can-now-file-itr-3-online-on-incometax-gov-in/iec/foportal/articleshow/122986882.cms Kind Attention Taxpayers!Income Tax Return Form of ITR-3 is now enabled for filing through online mode. Visit: https://incometax.gov.in/iec/foportal/ The Income Tax Department has enabled online

Clipped from: https://www.youtube.com/watch?v=a-hi7LW1ITk&ab_channel=IncomeTaxIndia

lipped from: https://www.businesstoday.in/personal-finance/tax/story/im-an-nri-i-barely-visit-india-got-i-t-notice-expert-explains-why-its-happening-now-486906-2025-07-29 More NRIs are receiving unexpected income tax notices from Indian authorities. Many are unaware that income from property, investments, or even bank accounts

Clipped from: https://www.business-standard.com/finance/personal-finance/think-inheritance-is-tax-free-here-s-what-nris-need-to-watch-for-in-india-125072401061_1.html ‘NRIs often stumble over basics like title updates and taxes,’ says expert. Inheritance is tax-free, but rental income and gains can trigger TDS,

Clipped from: https://www.businesstoday.in/personal-finance/tax/story/dont-rush-to-choose-new-tax-regime-you-can-save-rs-1-lakh-under-old-system-486777-2025-07-29 The new tax regime may be offering lower rates. However, you might be overlooking Rs 1 lakh or more in potential savings by

Clipped from: https://economictimes.indiatimes.com/wealth/tax/nri-taxation-mutual-funds-capital-gain-tds-rules-stcg-ltcg-tax-rules-from-equity-debt-international-hybrid-mfs-and-others/articleshow/122972758.cms In FY 2024-25 (AY 2025-26), there were changes in the capital gain tax regime affecting almost all asset classes. The new capital gains

Clipped from: https://www.incometax.gov.in/iec/foportal/ais-faq Q-1 What is Annual Information Statement (AIS)? Annual Information Statement (AIS) is comprehensive view of information for a taxpayer.  The objectives of AIS

Clipped from: https://www.youtube.com/watch?v=7hKK8N_tO0Q&ab_channel=IncomeTaxIndia This video covers the best practices on filing Form ITR 3 along with frequently raised grievances and their resolutions for filing Form ITR

Clipped from: https://economictimes.indiatimes.com/wealth/tax/paying-rs-55000-rent-on-time-could-not-save-salaried-taxpayer-from-rs-1-lakh-penalty-for-missing-tds-know-why/articleshow/122955038.cms This salaried individual was asked to pay a tax penalty of Rs 1 lakh because he was paying Rs 55,000 as monthly house