Category: Seven Star
*******Advance tax without CII: Indexation helps property sellers save LTCG tax, but CII not being notified for FY26, what should they do? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/advance-tax-without-cii-indexation-helps-property-sellers-save-ltcg-tax-but-cii-not-being-notified-for-fy26-what-should-they-do/articleshow/121827705.cms ET OnlineProperty sellers can pay lower capital gains tax due to indexation but have to pay advance tax for Q1 FY 2025-26 using
*******Which ITR form you should use to file your income tax return depends on your income sources and taxpayer category: Here’s how to pick right – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/which-itr-form-you-should-use-to-file-your-income-tax-return-depends-on-your-income-sources-and-taxpayer-category-heres-how-to-pick-right/articleshow/121530539.cms Salaried employees with no more than one source of income can opt for ITR-1 Choosing the right ITR form is the first and most crucial
*******Filing ITR for FY2024-25? Mistakes in HRA claims, capital gains tax calculation are among 7 errors to avoid – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/filing-itr-for-fy2024-25-mistakes-in-hra-claims-capital-gains-tax-calculation-are-among-7-errors-to-avoid/articleshow/121531335.cms Remember to incorporate all income-tax related changes introduced during Budget 2024 while filing your returns next time. At the very onset of the tax
*******Got an income tax notice? Here are common types of tax notices and what to do to avoid penalties – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/got-an-income-tax-notice-here-are-common-types-of-tax-notices-and-what-to-do-to-avoid-penalties/articleshow/121538355.cms Dont make the mistake of ignoring a tax notice, since they come with deadlines and missing them can result in penalties. Filing the
*******ITR filing for AY 2025-26: 7 prominent changes in ITR excel utilities for FY 2024-25, which taxpayers including salaried should know – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-filing-for-ay-2025-26-7-prominent-changes-in-itr-excel-utilities-for-fy-2024-25-which-taxpayers-including-salaried-should-know/articleshow/121573221.cms ET OnlineThe tax dept is asking for more information in ITR-1 excel utility about tax deductions claims including HRA, Section 80D, and more
*******Income Tax Payment: Paying income tax using net banking, credit card or debit card? You will be charged for it if you don’t have this bank account – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/paying-income-tax-using-net-banking-credit-card-or-debit-card-you-will-be-charged-for-it-if-you-dont-have-this-bank-account/articleshow/112104890.cms You have to pay charges for paying income tax using net-banking, credit card, debit card, if you don’t have this bank account; compare
*******How to check if Aadhaar is linked with PAN | Steps to link Aadhaar and PAN card via SMS | Aadhaar PAN Card Link : आधार कार्ड पॅन कार्डसह लिंक कसे करावे? ऑनलाइन आणि ऑफलाइन प्रक्रिया जाणून घ्या..
lipped from: https://www.loksatta.com/business/finance/how-to-link-aadhaar-card-with-pan-card-know-the-online-and-offline-process-discover-news-snk-94-5160384/ How to Link Aadhaar with PAN : ज्या व्यक्तींनी १ ऑक्टोबर २०२४ पूर्वी आधार नोंदणी आयडी वापरून त्यांचे पॅन कार्ड मिळवले आहे, त्यांनी
*******HC Rulings on GST Notices Issued to Deceased Individuals
Clipped from: https://www.taxscan.in/top-stories/hc-rulings-on-gst-notices-issued-to-deceased-individuals-1421833 Compilation of High Court rulings on GST demands issued to deceased persons, highlighting legal flaws and heirs’ liability under Section 93. INTRODUCTION In
*******New income tax rules 2025: Your ITR to face mandatory investigation in these 5 cases – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/new-income-tax-rules-2025-your-itr-to-face-mandatory-investigation-in-these-5-cases-3881558/ The Central Board of Direct Taxes (CBDT) has issued fresh guidelines outlining specific cases where Income Tax Returns (ITRs) will face mandatory scrutiny
*******Delhi HC Quashes Reassessment Proceedings Initated as Notice issued in name of Deceased Assessee [Read Order]
Clipped from: https://www.taxscan.in/top-stories/delhi-hc-quashes-reassessment-proceedings-initated-as-notice-issued-in-name-of-deceased-assessee-1421739 The issuance of a notice under Section 148 of the Act is at the root of the jurisdiction of an AO to commence
*******NRI wins capital gains tax case in Delhi High Court regarding sale of Rs 2 crore property despite Rs 46 lakh tax demand notice – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/nri-wins-capital-gains-tax-case-in-delhi-high-court-regarding-sale-of-rs-2-crore-property-despite-rs-46-lakh-tax-demand-notice/articleshow/121840835.cms ET Online(Representative image) Delhi High Court: NRI wins Rs 2 crore property sale capital gains tax case despite buyer filing wrong TDS form
*******ITR filing FY 2024-25: Several changes in Form 16! Top things salaried taxpayers shouldn’t miss – Times of India
Clipped from: https://timesofindia.indiatimes.com/business/financial-literacy/taxation/itr-filing-fy-2024-25-several-changes-in-form-16-top-things-salaried-taxpayers-shouldnt-miss/articleshow/121776720.cms ITR filing FY 2024-25: By June 15, 2025, employers must issue Form 16 to their salaried taxpayers for the fiscal year 2024-25. This
*******Using an inoperative PAN? You may face Rs 10,000 penalty per transaction – Details here – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/using-an-inoperative-pan-get-ready-for-a-fine-of-rs-10000-on-every-transaction-know-details-3879545/ The Income Tax Department has increased the strictness regarding Permanent Account Number (PAN) and Aadhaar linking. Those whose PAN is not yet linked
*******Advance tax alert: June 15 is a Sunday — does paying advance tax on June 16 attract penalty, interest? – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/advance-tax-payment-deadline-june-15-2025-extended-to-june-16-under-cbdt-circular-480419-2025-06-14 The first advance tax deadline for FY 2025–26 falls on Sunday, June 15, 2025, prompting confusion among taxpayers about whether payments made on
*******Rate cuts alone won’t revive growth – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/rate-cuts-alone-wont-revive-growth/article69692053.ece Measures to stimulate demand like tax breaks for consumers, infra spending and support for MSMEs can be considered Need to revive demand |
*******Back deductions with more data – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/back-deductions-with-more-data-3879299/ The Income Tax Department has released updated Excel utilities for ITR-1 and ITR-4 (AY 2025-26), introducing significant changes for taxpayers opting for the
*******Earning below taxable limit? Filing a Nil ITR could still save you money; see how – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/nil-income-tax-return-filing-benefits-deadlines-compliance-india-480361-2025-06-13 A Nil Income Tax Return (ITR) is filed when an individual’s income falls below the taxable threshold, resulting in zero tax liability. Understanding
*******Tax season chaos: This Excel tool tells you exactly which ITR form to choose & file – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/tax-season-chaos-this-excel-tool-tells-you-exactly-which-itr-form-to-choose-file-480396-2025-06-13 As income tax season kicks in, many taxpayers are left scratching their heads over one basic yet crucial question — Which ITR form
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