Clipped from: https://www.taxbuddy.com/blog/itr-3-vs-itr-2-for-income-from-business-capital-gains-and-more Filing the right Income Tax Return (ITR) form is more than just a checkbox on your financial to-do list, it determines whether your
Category: Seven Star
1*******Investor sets off F&O loss against capital gains, slashes surcharge from 15% to 10%; expert explains how – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/investor-sets-off-fo-loss-against-capital-gains-slashes-surcharge-from-15-to-10-expert-explains-how-486423-2025-07-25 Many taxpayers involved in F&O trading frequently miss reporting their trading income in their tax returns, mainly due to lack of awareness. However,
*******Think your AIS is accurate? Tax pro spots Rs 1.9 lakh income duplication in real case – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/think-your-ais-is-accurate-tax-pro-spots-rs19-lakh-income-duplication-in-real-case-486207-2025-07-24 A tax expert’s recent review of a client’s ITR revealed a glaring issue—duplicate reporting of the same interest income in the Annual Information
Comprehensive*******Getting tax benefits on rent? Most salaried employees claim HRA exemption wrong, says CA – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/getting-tax-benefits-on-rent-most-salaried-employees-claim-hra-exemption-wrong-says-ca-486139-2025-07-24 Many salaried employees unknowingly miscalculate their HRA claims, missing out on tax benefits. Understanding how to compute HRA exemption correctly can help reduce
*******Irrelevant personal chats will be redacted during investigation of digital evidence in tax matters, says CBDT chief – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax-investigation-only-financial-data-from-personal-chats-other-apps-to-be-analysed-says-cbdt-chief-3925323/ In the new Income Tax Bill, there is one provision which triggered a major debate among taxpayers in the country. This provision is
1*******ITR filing 2025: Who can file ITR-1, who cannot file it for FY 2024-25 (AY 2025-26)? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-filing-2025-who-can-file-itr-1-who-cannot-file-it-for-fy-2024-25-ay-2025-26/articleshow/122882862.cms Filing your tax return starts with choosing the correct ITR form. The Income Tax Department has released the income tax return (ITR) forms for Financial Year
1*******Income Tax Login | Best ITR Filing Platform File Income Tax Return for FY 2024-25 (AY 2025-26) | TaxBuddy
Clipped from: https://www.taxbuddy.com/file-itr-now?utm_term=&utm_campaign=&utm_source=&utm_medium=&hsa_acc=4215790609&hsa_cam=21400742829&hsa_grp=&hsa_ad=&hsa_src=x&hsa_tgt=&hsa_kw=&hsa_mt=&hsa_net=adwords&hsa_ver=3&gad_source=2&gad_campaignid=21411220477&gclid=Cj0KCQjws4fEBhD-ARIsACC3d29BZRgnfDq3p1mMuD_eM4bSXnVozq69lAxANPj46D4RzQfNA-tfXKwaAp7DEALw_wcB Free Notice Compliance | 365 days support TaxBuddy: Your AI-Driven Partner for Online Income Tax Filing We simplify your e-filing journey with powerful
*******This ITR default could trigger penalty: Beware if STCG or LTCG crosses ₹5 lakh total income – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/this-itr-default-could-trigger-penalty-beware-if-stcg-or-ltcg-crosses-rs5-lakh-total-income-485798-2025-07-23 For example, a taxpayer earning ₹3 lakh in salary and ₹3 lakh in STCG has a total income of ₹6 lakh. While slab
*******How much tax do NRIs pay on selling property in India? Here’s what changed after Budget 2024 25 – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/nri-property-tax-changes-budget-2024-ltcg-no-indexation-higher-tds-485974-2025-07-23 Budget 2024-25 introduced significant changes to the way NRIs are taxed on property sales in India. One of the major shifts is the
*******CBDT to ramp up AI-led crackdown on tax evasion ahead of new income tax law: Chairman Ravi Agrawal – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/cbdt-to-ramp-up-ai-led-crackdown-on-tax-evasion-ahead-of-new-income-tax-law-chairman-ravi-agrawal/articleshow/122866379.cms Synopsis The Central Board of Direct Taxes will intensify efforts to combat tax evasion. They plan to use data analytics and artificial intelligence.
1*******Discrepancy in AIS? Income tax department explains how to resolve it easily – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/ais-mismatch-in-itr-filing-heres-how-to-fix-it-as-per-income-tax-dept-guidelines-3922959/Over 1.62 crore taxpayers have so far filed their income tax returns (ITRs) this assessment year (AY2025-26). The Income Tax Department website shows that as many as 1.13
1*******AIS/26AS Mismatch May Trigger Tax Notices: What Taxpayer Should Know
Clipped from: https://taxguru.in/income-tax/ais-26as-mismatch-trigger-tax-notices-taxpayer.html Introduction Just last month, a client of mine—a schoolteacher—received an unexpected notice for underreporting interest income of only ₹1,000. She was shocked because
*******Is filing ITR tougher this year? Experts decode new tax return forms, tax refund delays, and stricter scrutiny – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/is-filing-itr-tougher-this-year-experts-decode-new-tax-return-forms-tax-refund-delays-and-stricter-scrutiny/articleshow/122834140.cms Income tax refund As the tax filing season for FY 2024-25 (AY 2025-26) begins, taxpayers are preparing to file their Income Tax Return
1-Comprehensive*******Understanding AIS and TIS in Income Tax Filing: Explained
clipped from: https://www.taxbuddy.com/blog/ais-and-tis-in-income-tax For many people, filing their income taxes is a rather difficult task. To file an accurate and compliant return and avert any prospective
Comprehensive*******FAQs on AIS (Annual Information Statement) | Income Tax Department
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
*******ITR-2 Online e-Filing Enabled: Late Yet Riddled with Glitches, says CAs and Tax Filers
Clipped from: https://www.taxscan.in/top-stories/itr-2-online-e-filing-enabled-late-yet-riddled-with-glitches-says-cas-and-tax-filers-1428339 Some tax filers complained that even basic features like HRA and LTA exemptions under the salary breakup are difficult to declare properly as
*******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
*******India Inc’s profit boom has a name: It’s called the Herfindahl Index | Industry News – Business Standard
Clipped from: https://www.business-standard.com/industry/news/india-inc-profit-boom-hides-consolidation-herfindahl-hirschman-index-explained-125071700945_1.html What is the Herfindahl-Hirschman Index (HHI), and what does it say about competition, monopolies, and industry growth in India Sectors such as telecom,
*******Cash payments or UPI, GST registration is mandatory if registration turnover satisfied: Here’s what Karnataka tax department clarified – The Economic Times
lipped from: https://economictimes.indiatimes.com/wealth/tax/switching-from-upi-to-cash-wont-help-in-avoiding-tax-notice-if-turnover-crosses-gst-registration-threshold-heres-what-karnataka-state-gst-department-said/articleshow/122766635.cms GST notice can be sent even if you use cash instead of UPI if turnover crosses registration threshold; Here’s what Karnataka State GST
*******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
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