Clipped from: https://www.business-standard.com/finance/personal-finance/excel-utility-revised-for-filing-tax-returns-here-s-what-has-changed-125061000730_1.html Stricter disclosure norms and additional reporting fields added to documents Spreadsheets templates in Excel Utility to file Income Tax returns for assessment year
Category: Seven Star
*******Savings a/c returns drop post RBI rate cut: Where to park your idle ₹1 lakh | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/savings-a-c-returns-drop-post-rbi-rate-cut-where-to-park-your-idle-1-lakh-125061100288_1.html With savings account interest rates dropping post-RBI rate cut, moving idle money to liquid funds can offer better returns with minimal risk and
*******Centre nudges states to implement new labour codes, shifts reform goalpost
Clipped from: https://www.business-standard.com/specials/news/centre-nudges-states-to-implement-new-labour-codes-shifts-reform-goalpost-125061001402_1.html During 2019-20, Parliament consolidated 29 labour laws into four codes – Code on Wages; Code on Social Security; Occupational Safety, Health and Working
*******I T Dept targets big spenders dodging tax: Here’s full ;ist of high value transactions under watch – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/i-t-dept-targets-big-spenders-dodging-tax-heres-full-ist-of-high-value-transactions-under-watch-479449-2025-06-07 The Income Tax Department is tightening its grip on big spenders who underreport income by closely tracking high-value financial transactions. Institutions like banks,
*******New Income Tax Rules: Changes in ITR filing process for Old Tax Regime return filers – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/new-income-tax-rules-changes-in-itr-filing-process-for-old-tax-regime-return-filers-3873904/ Salaried taxpayers opting for the old tax regime must now follow a revised ITR filing process for FY 2024-25. Merely using Form 16
*******Forex cards need not mean TCS – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/your-money-forex-cards-need-not-mean-tcs-3873750/ Avoid costly travel money mistakes. Learn why forex cards are smarter than cash or credit cards for international travel. No TCS on forex
*******June 2025 tax filing & compliance deadlines: What’s due, when, and by whom | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/june-2025-tax-filing-compliance-deadlines-what-s-due-when-and-by-whom-125060400477_1.html Completing these tasks in compliance will impact your tax refunds, returns and penalties June brings deadlines to finish work for complying with tax
*******MPC pulls out all stops to support growth – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/mpc-pulls-out-all-stops-to-support-growth/article69665421.ece The policy action points to a remarkable, new-found confidence in India’s fundamentals and external account The neutral stance allows the MPC to be
*******The RBI frontloads a dream – The Hindu BusinessLine
lipped from: https://www.thehindubusinessline.com/opinion/the-rbi-frontloads-a-dream/article69665883.ece MPC goes for an aggressive 50 bps rate cut to support consumption and growth RBI Governor Sanjay Malhotra at the post-monetary policy press
*******I T Dept targets big spenders dodging tax: Here’s full ;ist of high value transactions under watch – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/i-t-dept-targets-big-spenders-dodging-tax-heres-full-ist-of-high-value-transactions-under-watch-479449-2025-06-07 The Income Tax Department is tightening its grip on big spenders who underreport income by closely tracking high-value financial transactions. Institutions like banks,
*******Income Tax Dept cracks down on high spenders hiding income: Strict monitoring of THESE high-value transactions – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax-dept-cracks-down-on-high-spenders-hiding-income-strict-monitoring-of-these-high-value-transactions-3871050/ The Income Tax Department is intensifying efforts to catch individuals who underreport their income but spend heavily. Using advanced data analysis and collaboration
*******Reporting of Intraday & F&O Transactions In ITR 3
Clipped from: https://taxguru.in/income-tax/reporting-intraday-f-o-transactions-itr-3.html 1. ITR-3 form is required to be filed by individual or HUF whose total income for a given assessment year includes Income from a profession
*******Section 44AA of Income Tax Act: Compulsory Maintainance of Books of Accounts
lipped from: https://scripbox.com/tax/section-44aa/ In this article For most of the people carrying on a business or profession, maintenance of books of accounts has always been a
*******Income Tax On Intraday Trading – How Gains Are Taxes? – Tax2win
Clipped from: https://tax2win.in/guide/intraday-gain-loss-in-itr How are gains and Losses from intraday trading taxed? Updated on: 17 May, 2025 04:46 PM Understanding the income tax implications of intraday
*******HRA, Section 80C, Section 24b claims get tough: New ITR rules tighten grip on old tax regime filers – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/income-tax-department-deduction-disclosures-ay-2025-26-automated-verification-itr-filing-deadline-extended-478881-2025-06-03 – Enhanced disclosure requirements for taxpayers opting for the old tax regime. – Automation of deduction verification aims to reduce errors. – New
*******Section 54F exemption granted for different floors of single residential house
Clipped from: https://taxguru.in/income-tax/54f-exemption-granted-floors-single-residential-house.html PCIT-Central -1 Vs Lata Goel (Delhi High Court) Delhi High Court held that exemption under section 54F of the Income Tax Act is
*******How to file ITR online: Step-by-step guide for e-filing income tax return for AY2025-26 – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/how-to-file-itr-online-step-by-step-guide-for-e-filing-income-tax-return-for-ay2025-26-3865728/ Though ITR filing can still be done via offline and online mode both, most taxpayers nowadays prefer filing ITR online using the Income
*******Sec 56(2)(x) Covers All Immovable Properties, Including Agricultural Land
Clipped from: https://taxguru.in/income-tax/sec-562x-covers-all-immovable-properties-including-agricultural-land.html Clayking Minerals LLP Vs ITO (ITAT Ahmedabad) Sec 56(2)(x) applies to any immovable property, including agricultural land & when the assessee disputes stamp
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