Clipped from: https://economictimes.indiatimes.com/wealth/tax/you-can-know-what-final-income-tax-scrutiny-order-contains-even-before-it-is-issued/articleshow/122179111.cms Tax scrutiny The Income Tax Department recently highlighted a Chartered Accountant’s post on X regarding the working of the current income tax scrutiny process. The Income Tax Department
Category: To be deleted
Cost Inflation Index (CII) for FY 2025-26 (AY 2026-27) notified by Income Tax Department: Know its applicability for LTCG tax calculation – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/cost-inflation-index-cii-for-fy-2025-26-ay-2026-27-notified-by-income-tax-department-know-its-applicability-for-ltcg-tax-calculation/articleshow/122199470.cms CII inflation The rules for calculating long-term capital gains (LTCG) have changed, but the Cost Inflation Index (CII) is still required in certain
Managing Section 143(2) Income Tax Scrutiny Notices for AY 2024–25: A Guide for Tax Practitioners with Checklist for Taxpayers
Clipped from: https://www.taxscan.in/top-stories/managing-section-1432-income-tax-scrutiny-notices-for-ay-202425-a-guide-for-tax-practitioners-with-checklist-for-taxpayers-1426630 The Income Tax Department has issued a flurry of Income Tax Scrutiny Notices for the Assessment Year 2024-2025, owing ITR-Form 26AS-AIS Mismatches The
Income Tax Filing Checklist for NRIs: What You Must Know Before Filing in India
Clipped from: https://www.taxscan.in/top-stories/income-tax-filing-checklist-for-nris-what-you-must-know-before-filing-in-india-1426618 NRIs should report all Indian income, use the correct ITR form, and check documents carefully to ensure smooth and compliant income tax filing
Bank Passbook Not Regarded as ‘Books of Account’: ITAT Rejects S. 68 Addition Made Without Assessee’s Books [Read Order]
Clipped from: https://www.taxscan.in/top-stories/bank-passbook-not-regarded-as-books-of-account-itat-rejects-s-68-addition-made-without-assessees-books-1426611 The Tribunal concluded that the very basis for applying Section 68 in this instance was lacking, while finding validity in the assessee’s reasoning
Major GST Reforms for MSMEs: CBIC eases Registration and Filing Under QRMP Scheme
Clipped from: https://www.taxscan.in/top-stories/major-gst-reforms-for-msmes-cbic-eases-registration-and-filing-under-qrmp-scheme-1426570 CBIC’s new GST reforms simplify registration and quarterly filing for MSMEs, easing compliance and boosting business growth in India. Micro, Small, and Medium
*****Don’t forget to claim these five deductions for reducing your income tax liability for AY 2025-26 under old tax regime – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/dont-forget-to-claim-these-five-deductions-for-reducing-your-income-tax-liability-for-ay-2025-26-under-old-tax-regime/articleshow/122176200.cms Claim these five tax deductions for reducing your income tax liability for AY 2025-26 under old tax regime It’s been a while since
Editorial. GST @ 8 – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/gst-8/article69755972.ece The tax has helped ease doing business, but glitches remain The Goods and Services Tax has come a long way since its inception
‘One small mistake in this segment can cost you…’: CA warns taxpayers ahead of new ITR deadline – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/one-small-mistake-in-this-segment-can-cost-you-ca-warns-taxpayers-ahead-of-new-itr-deadline-482411-2025-06-30 Filing your income tax return can get tricky if you’ve earned capital gains from stocks, mutual funds, or property. Experts warn that picking
Doctors at the heart of the AI revolution – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/doctors-at-the-heart-of-the-ai-revolution/article69756779.ece AI gives doctors more time for what matters — direct patient interaction and complex problem-solving. AI isn’t here to take over, but to
Doctors must look after themselves – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/doctors-must-look-after-themselves/article69756543.ece On the toughest days, reconnect with the reason you chose to become a doctor. Remember the lives you’ve saved and give yourself the
ITR-2, ITR-3 delay decoded: Changes, challenges, and what’s next | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/itr-2-itr-3-delay-decoded-changes-challenges-and-what-s-next-125062500777_1.html ‘Major backend changes and stricter disclosures have pushed the rollout,’ say experts, creating anxiety for those with complex incomes and tighter deadlines. With
Unlimited but repeated ITR revisions may cause scrutiny, say experts | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/unlimited-but-repeated-itr-revisions-may-cause-scrutiny-say-experts-125062600776_1.html Tax experts say revising your ITR is allowed, but frequent or significant changes may raise red flags with the department’s AI-driven systems Revising
Beware pressure tactics: Limited-time deals and fear-based appeals
Clipped from: https://www.business-standard.com/finance/personal-finance/beware-pressure-tactics-limited-time-deals-and-fear-based-appeals-125062700820_1.html This National Insurance Day, let us look at the various types of fraud that are taking place and how you can avoid falling
‘Trust restored’: Officials to ask ‘relevant’ questions during tax scrutiny | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/trust-restored-officials-to-ask-relevant-questions-during-tax-scrutiny-125062800234_1.html Finance experts explain how CBDT directive to officers may help taxpayers and businesses The CBDT has asked its officers to ask “relevant” and
*****Filing your income tax return? Here are some major mistakes to avoid | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/filing-your-income-tax-return-here-are-some-major-mistakes-to-avoid-125062601131_1.html Filing errors can result in tax notices, interest and penalty charges, not to mention delays in getting your refund The tax filing season
Most Indians underinsured by 30-50% despite increased awareness: Report | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/most-indians-underinsured-by-30-50-despite-increased-awareness-report-125063000682_1.html Despite rising awareness, most Indians remain dangerously underinsured, reveals Bajaj Capital’s Suraksha Kavach Report 2025. Despite increased awareness and broader product availability, a
Ending a right: Challenging birthright citizenship won’t end well for US | Editorial Comment – Business Standard
Clipped from: https://www.business-standard.com/opinion/editorial/ending-a-right-challenging-birthright-citizenship-won-t-end-well-for-us-125062900783_1.html If Mr Trump indeed succeeds in rolling back birthright citizenship then it will stand as an epochal shift in American identity and in
The problems India ignores: Fixes, not vision, key to 8% economic growth | Expert Views – Business Standard
Clipped from: https://www.business-standard.com/opinion/columns/the-problems-india-ignores-fixes-not-vision-key-to-8-economic-growth-125063001460_1.html There are dozens of issues that slow our growth far below potential. They don’t need a grand vision, but they urgently need attention
*****Filing ITR-1 or ITR-4? Tax Dept seeks additional disclosures for claim deductions – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/filing-itr-1-or-itr-4-tax-dept-seeks-additional-disclosures-for-these-deductions-3897863/ The Income Tax Department has introduced major changes in ITR-1 and ITR-4 filing this year, especially for those opting for the old tax
