I am an NRI with short term capital gains. How to file ITR 2025?
As per current tax laws, if the aggregate value of all gifts received during a year exceeds Rs 50,000, the same is treated as income in the recipient’s hands. However, gifts received from specified relatives, including spouse, are not considered income, regardless of the amount.
Will my NRI child pay tax on selling an inherited Indian home?
Article 13 of the India–US DTAA entitles each country to levy tax on capital gains as per their domestic laws. Therefore, the son will have to pay tax on long-term capital gains whenever the residential house property inherited by him in India is sold.
Govt capex rises sharply in Q1, but low tax revenue growth a slowdown signal
Central government spending surged dramatically in Q1 FY26, with the fiscal deficit more than doubling to Rs 2.8 lakh crore compared to the same period last year. While total expenditure jumped to Rs 12.22 lakh crore, a staggering 46 percent increase in interest payments now consumes nearly one-third of all government spending, highlighting India's growing debt burden and constrained fiscal flexibility
ITR filing 2025: Submitted your income tax return? Here’s how to check the refund status
ITR filing: Taxpayers can check the status of the refunds due on the income tax department’s official e-filing portal (incometax.gov.in).
Convenience comes at a cost and now it’s court-approved
In a key ruling of the Bombay High Court, the right of multiplexes to charge a convenience fee for the service of online ticket booking has been upheld, marking an important precedent for all digital platforms providing services
ITR-3 form is now live: Check who is eligible and key changes
Taxpayers, who fall under ITR-3 category such as those earning from futures and options trading, can now file their returns before the September 15 deadline
Income tax: Deductions and exemptions you can claim even under the new tax regime
Corporate NPS contribution, employers’ contribution to EPF and tax breaks on housing loan interest in the case of let-out properties are some of the key tax breaks that even the new regime allows.
Decoding crypto taxes in India: A guide to ITR forms, airdrops, NFTs, TDS and business income
Cryptocurrencies are categorised as virtual digital assets In India are taxed at 30 percent as per Section 115BHH of the I-T Act after allowing deduction for costs. No other expenses or losses are allowed as a deduction.
ITR filing 2025: Opting for the old tax regime? File return by Sep 15 to retain 80C tax deductions
Salaried taxpayers looking to claim section 80C tax deductions and exemptions under the old tax regime must file their returns by September 15, the extended due date for FY 2024-25
ITR filing: How to claim deductions even if you didn’t make tax saving investments in FY25
For one, your children's school and college tuition fees are eligible for deductions under section 80C. That would help reduce your tax outgo.
ITR filing: New income tax rules for 2024-25 to keep in mind before filing return
Income tax returns: All the major changes announced in Budget 2024 - rejig of income tax slabs under the new regime and rationalisation of capital gains tax structure - being the key ones, will have to be factored in while filing returns this year.
Lost money on stocks or mutual funds this year? Don’t skip declaring your capital losses in ITR
It is important to mention capital losses while filing income tax return, as it will help in setting it off against future income.
ITR filing 2025 review: Refunds get faster even as AIS glitches, delayed utilities test patience
Income tax return filing 2025: While delayed ITR utilities and AIS glitches remain sore points, quicker refunds and improved communication have worked in taxpayers’ favour.
ITR filing 2025: Are you a social media influencer? Here's how to file your income tax returns right
You will have to choose between ITR-3 and ITR-4 (Sugam), verify AIS to ensure you do not miss out on any source of income and maintain documentary proof for any deductions claimed.
Karnataka vendor gets Rs 29 lakh GST notice on Rs 1.63 crore UPI transactions, protests erupt
'I procure vegetables from the farmers and sell the produce at the small shop... The GST officials have served a tax demand of Rs 29 lakh. How can I pay such a huge amount?' vegetable vendor Shankargouda Hadimani said.
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.
