Why July 23, 2024 is an important date to keep in mind while filing Capital Gains Tax in ITR 2025
If your transaction happened before July 23, you might have the choice between the old and new tax structures. But if it occurred on or after that date, you will need to follow the new flat rate rules.
ITR filing 2025: Salaried taxpayers steer clear of unverifiable deductions, increasingly opt for new tax regime, say CAs
Heightened I-T dept scrutiny has compelled many salaried taxpayers to avail of deductions on 80C tax-saving investments, HRA, and donations only when their claims can be supported by valid documents.
House panel report on new I-T Bill: Here are the 5 key takeaways for individual taxpayers
A parliamentary panel headed by BJP's Baijayant Panda has suggested 32 amendments to the new I-T bill, which will replace the Income Tax Act, 1961
Of Dubai & Delhi: Here’s how NRIs are taxed for capital gains, dividends, & more
A valid Tax Residency Certificate from the UAE is mandatory to claim benefits under the DTAA in India.
ITR 2024-25: Seven common mistakes to avoid while filing income tax returns
Start by choosing the right form. For instance, selecting ITR-1 instead of ITR-2 will be seen as trying to conceal income that you ought to have disclosed in ITR-2.
ITR-2 online utility released: Filing returns? Here's why you must verify your AIS and Form-26AS first
Since the AIS and Form 26AS contain the complete history of a taxpayer’s transactions, nothing will go unnoticed — any non-disclosure can invite notices from the income tax department.
ITR Filing 2025: Checklist of essential documents before filing income tax return
Tax filers can start gathering the crucial documents, including last year’s ITR, Form-16, Annual Information Statement, Form-26 AS, capital gains statements and so on, before kicking off the process.
AWL Agri Business expects edible oil demand to stabilise after duty cuts
The company has reported a 24.5 percent decline in its consolidated net profit to Rs 236.4 crore for the quarter ended June 2025, due to higher expenses.
Yet to receive income tax refund? Know the common reasons for delayed processing
I-T refunds have been faster for taxpayers who have filed returns using ITR-1 and ITR-4, say chartered accountants, but if you haven’t received yours, ascertain why it could be stuck.
ITR filing 2024–25: Used the wrong ITR form? Revise your returns to ensure refund credit
Choosing the wrong ITR form can render your returns defective, delaying processing and, hence, the refund of any excess tax paid.
ITR filing 2025-26: Errors in your form? Here's how you can fix them, avoid penalties
The return needs to be revised three months before the end of the assessment year or before the completion of the assessment, whichever is earlier. For the assessment year 2025-26, the last date for filing a revised return is December 31, 2025.
ITR filing: Claiming fake 80C, HRA tax deductions? Beware of I-T notices
It is best to be honest while claiming deductions and avail tax breaks only if one can back them up with documentary proof, should there later be a notice by the income tax department.
ITR filing 2025 | ITR-1or 2: Which income-tax return form should salaried persons choose?
Now, that the I-T department has released excel utilities for ITR-2, salaried taxpayers and chartered accountants can start the filing exercise for assessment year 2025-26
Karnataka commercial tax dept targets traders evading GST despite over Rs 40 lakh UPI annual earnings
Karnataka Commercial Tax Department has obtained data from UPI service providers on payments received by traders via UPI for FY 2021-22 to 2024-25
Planning to move to the UAE? Know the tax implications for your investments in India
Such NRIs will have to pay tax on income earned in India, but the double taxation avoidance agreement (DTAA) between India and UAE offers some concessions.
ITR filing 2025: Here are small-saving schemes that offer tax benefits under Section 80C
In case you missed claiming tax deductions on your small saving deposits while submitting investment declarations in January, do not forget to rectify the omission while filing returns
ITR filing 2025-26: Four mistakes that salaried taxpayers must avoid while filing income tax returns
Income Tax return filing: Ensure that you choose the right form, do not omit any source of income and claim deductions only if you can furnish proofs of making tax-saver investments
ITR filing 2025: Used the wrong form? Revise your return to rectify the error
Tax returns: There is no cap on the number of times the returns can be revised before the end of the deadline for filing belated returns.
Why ICAI’s audit limit is misguided and outdated
ICAI’s proposed 60-audit cap lacks legal clarity and empirical support. Amid digital tax reform, mandatory audits feel outdated—raising concerns over regulatory overreach, procedural fairness, and modern compliance efficiency
F&O taxation: What you need to know about turnover, losses, and ITR filing
Non-speculative losses, such as those from F&O trading, can be set off against any income (except salary) within the same year, and can be carried forward for up to eight years.
GST at 8: A tax reform that empowered every Indian
Eight years on, GST has gained strong approval. GST has lowered tax rates on essentials, unified India’s market, reduced logistics costs and boosted inter-state trade, benefiting both consumers and businesses through simplification and digitisation
GST at 8: A look back and suggestions for the way ahead
Eight years of GST mark not just the survival but the steady maturation of India’s boldest tax reform. While the journey has not been without hiccups, the direction remains firmly forward-looking. With GST reasonably stabilised now, what is needed as a next step is a set of GST reforms guided by principles of ease of compliances, transparency, and reduced complexity
Next GST Council meeting may eliminate 12% tax slab and shift items to other slabs
The 56th GST Council meeting is due soon. Its agenda is expected to include items such as GST slab rate rationalisation and a decision on consumer requests for an exemption of GST on health insurance premium
Capital Pains: Accurately reporting capital gains across multiple brokers
Each brokerage provides its own capital gains statement. However, these are siloed and may not factor transactions across different accounts.
Taxes are not exported; GST on intermediaries’ foreign earnings should go
India has positioned itself as a global services powerhouse over the past few decades. However, a critical segment, intermediaries, continues to face the GST hurdle, potentially costing the country billions in lost opportunities. India needs to amend the existing GST law and grant export status to them to boost opportunities in the services sector
