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
Category: Self Education
Income Tax Reassessment Initiated During Pending Assessment Proceedings: Delhi HC Sets Aside Order for Lack of Jurisdiction [Read Order]
Clipped from: https://www.taxscan.in/top-stories/income-tax-reassessment-initiated-during-pending-assessment-proceedings-delhi-hc-sets-aside-order-for-lack-of-jurisdiction-1428180 The Court ruled that reassessment proceedings cannot be initiated unless the initial assessment is concluded The High Court of Delhi,set aside the reassessment order
*******Investors filing tax using LRS route must disclose foreign assets, income
Clipped from: https://www.business-standard.com/finance/personal-finance/investors-filing-tax-using-lrs-route-must-disclose-foreign-assets-income-125071701334_1.html Misreporting may invite penalty as high as Rs 10 lakh, can go up to 200 per cent of the tax due The Income-Tax
NRIs need not disclose foreign assets or income in ITR – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/nris-need-not-disclose-foreign-assets-or-income-in-itr-3919432/?ref=Alsoread_article NRIs with India-sourced income must file ITR using Form ITR-2, but need not disclose foreign assets or income unless resident. Learn rules on
A paper trail for tax deductions – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/a-paper-trail-for-tax-deductions-3920477/ Understand how to safely claim tax deductions under Chapter VI-A. Learn about common red flags like inflated claims, unverifiable donations, and the need
*Sold property to save tax? This “safe” move could silently wipe out ₹9.6 lakh in returns – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/sold-property-to-save-tax-this-safe-move-could-silently-wipe-out-rs96-lakh-in-returns-485355-2025-07-19 If your only goal is to save every rupee in tax, 54EC bonds do their job. But for investors with time and the
*******Avoid penalties: Fix AIS discrepancies before submitting ITR; Here’s what to do – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/ais-discrepancies-correction-income-tax-department-ay-2025-26-485186-2025-07-18 If your Annual Information Statement (AIS) shows incorrect data, it’s important not to ignore it. Errors or mismatches in the AIS can lead
*******NRIs need not disclose foreign assets or income in ITR – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/nris-need-not-disclose-foreign-assets-or-income-in-itr-3919432/ NRIs with India-sourced income must file ITR using Form ITR-2, but need not disclose foreign assets or income unless resident. Learn rules on
ITR Filing for FY 2024-25: Key guidelines to follow to avoid delayed refunds | Personal Finance News – The Indian Express
Clipped from: https://indianexpress.com/article/personal-finance/itr-filing-for-fy-2024-2025-rules-to-follow-to-avoidlate-refunds-10132314/ ITR Filing FY 2024-25, AY 2025-26: To avoid delays in income tax refunds for FY 2024-25 (AY 2025-26), it’s important to know that
ITR-2 filing FY 2024-25 begins online: Know the eligibility, new updates, and more
Clipped from: https://indianexpress.com/article/personal-finance/itr-2-filing-fy-2024-25-begins-online-know-the-eligibility-new-updates-10134038/ ITR-2 Filing FY 2024-25: The Income Tax Department has finally activated ITR-2 for online filing after a 100-day delay. Taxpayers can now file
1-*Online ITR-2 e-filing opens: what’s new in AY 2025-26, who needs to use form | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/itr-2-e-filing-opens-what-s-new-in-ay-2025-26-who-needs-to-use-form-125071800643_1.html Online tax form was delayed due to revisions that match legislative changes, say experts The Income Tax department on Friday enabled online filing
1***ITR 2 now live for online filing with pre filled data; six key changes taxpayers must note – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/itr-2-now-live-for-online-filing-with-pre-filled-data-six-key-changes-taxpayers-must-note-485175-2025-07-18 The department attributed the overall delay in releasing updated ITR utilities to recent legislative changes under the Finance Act 2024, prompting the extension
1***Avoid penalties: Fix AIS discrepancies before submitting ITR; Here’s what to do – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/ais-discrepancies-correction-income-tax-department-ay-2025-26-485186-2025-07-18 If your Annual Information Statement (AIS) shows incorrect data, it’s important not to ignore it. Errors or mismatches in the AIS can lead
Now file ITR-2 online with pre-filled data: A big relief for salaried taxpayers – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/now-file-itr-2-online-with-pre-filled-data-a-big-relief-for-these-taxpayers-3918475/ If you’ve been waiting to file your income tax return (ITR) under Form ITR-2, here’s some good news. The Income Tax Department has finally activated ITR-2 for
*****ITR Filing: Non-disclosure of foreign income, US stocks can lead to tax trouble – Income Tax News | The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax-itr-filing-non-disclosure-of-foreign-income-us-stocks-can-lead-to-tax-trouble-3919066/ Taxpayers must ensure proper disclosures when reporting foreign assets and income to tax authorities, including selecting the appropriate ITR form, filing Schedule FA
1***Capital gain on property: How to pay lower LTCG tax using indexation benefit – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/capital-gain-on-property-how-to-pay-lower-ltcg-tax-using-indexation-benefit/articleshow/122633971.cms How claiming indexation benefit can help you pay lower long term capital gains (LTCG) tax on real estate sale transactions Only transactions that
*****How to download Form 26AS for ITR filing FY 2024-25 (AY 2025-26)? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-to-download-form-26as-for-itr-filing-fy-2024-25-ay-2025-26/articleshow/122640481.cms Form 26 As details The Income Tax Department has extended the last date for filing income tax returns (ITR) from July 31, 2025, to September
*****Online ITR-2 filing enabled with pre-filled data: Income taxpayers with capital gains, crypto, other incomes can now file ITR-2 online – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/online-itr2-filing-enabled-with-pre-filled-data-income-taxpayers-with-capital-gains-crypto-other-incomes-can-now-file-itr-2-online/articleshow/122719334.cms Income Tax Return Form of ITR-2 is now enabled for filing through online mode with pre-filled data at the e-filing portal. On July
*******Income tax audit forms are now enabled for business and professional income on ITR e-filing portal, check 5 prominent changes in form 3CA-3CD and 3CB-3CD – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/income-tax-audit-forms-are-now-enabled-for-business-and-professional-income-on-the-e-filing-portal-check-5-prominent-changes-in-form-3ca-3cd-and-3cb-3cd/articleshow/122743426.cms Forms 3CA-3CD and 3CB-3CD are now enabled on the e-Filing portal with changes as per Notification No. 23/2025/F. No. 370142/10/2025-TPL On July 18,
aniltikotekar4sme.com 