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Income Tax

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Can We File ITR for Previous Years? A Complete Guide to Old Return Filing & Condonation Requests

by | 5 June 2025 | Income Tax Knowledge, Income Tax | 0 Comments

What is the Time Limit for Filing ITR in India?Can You File ITR for Previous Years?Understanding Condonation Request: When and How to Use ItWhat is a condonation request?When is a condonation request accepted?How to file a condonation request?Who Can Benefit from...

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Income in ITR 1: Where to Show Pension Income in ITR 1

by | 5 June 2025 | Income Tax, Income Tax Knowledge | 0 Comments

What is Pension Income? Understanding the BasicsIs Pension Income Taxable? Clarifying Taxable Pension RulesWho Can Use ITR 1 to Report Pension Income?Where to Show Pension Income in ITR 1? Step-by-Step InstructionsHow to Report Family Pension If You Receive It?Common...

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What is ITR 6? Meaning, Filing Guide & Form Explained

by | 5 June 2025 | Income Tax, Income Tax Knowledge | 0 Comments

What is ITR 6?ITR 6 Meaning: Who Should File?Key Features of ITR 6Structure of ITR 6 FormITR 6 Filing Process (Step-by-Step Guide)Common Challenges in Filing ITR 6Pro Tips to File ITR 6 SmoothlyITR 6 Filing Due Dates for AY 2025–26ConclusionFile with Finodha...

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How to Fill ITR 2 Capital Gains in FY 2024-25

by | 5 June 2025 | Income Tax, Income Tax Knowledge | 0 Comments

Who Should File ITR-2?Documents Required Before You BeginStep-by-Step Guide: How to Fill ITR 2 Capital GainsStep 1: Log in to the Income Tax e-Filing PortalStep 2: Choose Your Filing DetailsStep 3: Navigate to the Income ScheduleStep 4: Fill in ITR 2 Schedule CG...

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How to Report Short Term Capital Gain in ITR 2

by | 5 June 2025 | Income Tax, Income Tax Knowledge | 0 Comments

Understanding ITR 2 FormWho Should Use ITR 2 for STCG Filing?Where and How to Report Short Term Capital Gain in ITR 2Steps to Report Short Term Capital Gain in ITR 2:STCG Tax Rates Applicable in FY 2024-25Deductions and Exemptions: What You Can and Cannot...

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Documents Required for Filing ITR for Business in India 2025

by | 5 June 2025 | Income Tax, Income Tax Knowledge | 0 Comments

Who Needs to File Business ITR?Master Checklist: Documents Required for Filing ITR for Business1. General Mandatory Documents2. Financial Statements3. Business-Specific Documents4. Tax Payment Proofs5. Optional But Useful DocumentsCommon Mistakes to Avoid During...

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ITR 4 vs ITR 3: Which Income Tax Return Form Is Right for You in FY 2024-25?

by | 5 June 2025 | Income Tax, Income Tax Knowledge | 0 Comments

Understanding the Basics of ITR FormsITR 4 (Sugam) – Presumptive Taxation Scheme ExplainedWho Can File ITR 4?Key Features of ITR 4Pros and Cons of Filing ITR 4ITR 3 – For Income from Business or Profession (Detailed)Who Should File ITR 3?Features of ITR 3Pros and Cons...

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When Does ITR Filing Starts? Complete Guide FY 2024-25

by | 5 June 2025 | Income Tax, Income Tax Knowledge | 0 Comments

What Is the Income Tax Return (ITR) Filing Period?When Does ITR Filing Start for FY 2024-25 (AY 2025-26)?Important ITR Filing Deadlines to RememberAY vs FY: What’s the Difference and Why It Matters?Consequences of Missing the ITR Start or End DatesWho Benefits from...

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How Many Years of ITR Required for a Visa 2025?

by | 5 June 2025 | Income Tax, Income Tax Knowledge | 0 Comments

Why Is ITR Important for Visa Applications?How Many Years of ITR Are Required for a Visa?Exceptions and Alternate Income Proof OptionsOther Key Documents Often Required Alongside ITRTips to Strengthen Your Visa File with ITRWhat Happens If You Don’t Submit ITR?Filing...

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How to Fill ITR 3 Form for AY 2025-26: Complete Filing Guide

by | 5 June 2025 | Income Tax, Income Tax Knowledge | 0 Comments

What is ITR 3?Who is Eligible to File ITR-3?What is the Due Date for Filing ITR 3?Step-by-Step Guide on How to Fill ITR 3Changes in ITR 3 for AY 2025-26Common Mistakes to Avoid While Filing ITR 3Why Choose Finodha for Filing ITR 3?ConclusionFrequently Asked Questions...

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Understanding Income Tax Department Notifications: What You Need to Know

by | 24 April 2024 | Income Tax | 0 Comments

In today’s digital age, taxpayers must be vigilant about communications from the Income Tax Department (ITD). It’s not uncommon to receive notifications via SMS, phone calls,

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Compliance Portal: Tax liability from Investment in Securities

by | 24 April 2024 | Income Tax | 0 Comments

ITR When a taxpayer engages in securities investments, they incur tax liabilities on the income generated from these transactions. The classification of this income as either Business Income

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Compliance Portal: Tax liability on Expenditure

by | 24 April 2024 | Income Tax | 0 Comments

In the intricate world of income tax, expenditures serve as vital clues to an individual’s lifestyle and spending habits. From family celebrations to international travels and fine dining experiences, these expenses reflect how one utilizes their income.

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Compliance Portal: Information Confirmation for Non-Filing of Return

by | 24 April 2024 | Income Tax | 0 Comments

Click on the “Back” option to return to the e-Campaign – Non-filing of return screen.

To complete the response, click on “Information Confirmation” to submit feedback against the provided information.

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Compliance Portal: Income Tax Information Summary

by | 24 April 2024 | Income Tax | 0 Comments

When the Income Tax Department (ITD) identifies transactions during a financial year that don’t align with a taxpayer’s typical profile, they present these discrepancies for the taxpayer’s review.

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Compliance Portal: Non-Filing of Returns

by | 24 April 2024 | Income Tax | 0 Comments

In the intricate realm of income tax compliance, taxpayers may encounter queries for non-filing of returns if they skip submitting their Income Tax Return (ITR) for a specific Assessment Year (AY).

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Compliance Portal: Information Detail

by | 24 April 2024 | Income Tax | 0 Comments

When you access the Compliance Portal, you’ll find a section dedicated to Information Summaries. Here, you can delve into the details of transactions flagged by the ITD.

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Compliance Portal: Tax Liability on Cash Deposits

by | 24 April 2024 | Income Tax | 0 Comments

Taxpayers dealing with significant cash deposits must adhere to the rules outlined in Section 114B. For transactions involving Rs. 50,000 or more,

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Compliance portal: Tax liability from Sale of Immovable property

by | 24 April 2024 | Income Tax | 0 Comments

In the realm of income tax regulations, understanding the intricacies of capital gains tax is essential for taxpayers. When selling immovable property, capital gains tax,

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Compliance Portal: Tax Liability for House Property

by | 25 April 2024 | Income Tax | 0 Comments

Tax Liability for House Property: Navigating income tax verification and taxation related to house property can be complex, but essential for taxpayers to ensure compliance with regulations.

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Capital Gains Exemption

by | 1 May 2024 | Income Tax | 0 Comments

Outlined under section 54, these Capital Gains Exemptions serve as beacons of tax relief, illuminating the path for taxpayers seeking refuge from hefty tax liabilities during the Income Tax Return filing process.

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UTIITSL: Change/Correction in PAN

by | 31 May 2024 | Income Tax | 0 Comments

The Permanent Account Number (PAN) is a crucial identity proof in India, so it is important that all the information on your PAN card is correct. Sometimes, however, the details on the PAN card may be incorrect or outdated. I

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What is Capital Gain in Income Tax | Comprehensive Overview

by | 11 February 2025 | Income Tax, Income Tax Knowledge | 0 Comments

Discover what is capital gain in income tax and how profits from asset sales are categorized into short-term and long-term gains, affecting tax liability.

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Save yourself from paying excess TDS

by | 16 June 2024 | Income Tax | 0 Comments

Effective planning involves managing income sources, assessing investments, and estimating total income for the fiscal year to minimize TDS Payments. For instance, if your projected income falls below the taxable limit, you can avoid excess TDS payments on income.

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Income Tax: Rates, Due Date and Return Filing in India

by | 12 May 2024 | Income Tax, Income Tax filing | 0 Comments

When it comes to paying taxes on our income, understanding the applicable rates is essential. Each year, during the Union Budget presentation by the Finance Minister, the Income Tax Slab Rates are announced for various categories of taxpayers.

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Register Tax Diductor and Collector on IT Portal

by | 16 May 2024 | Income Tax | 0 Comments

This ensures a seamless connection between the diductor or collector and their digital realm, facilitating efficient access and management of tax-related affairs.

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Gift to NRI by Resident Indian

by | 15 May 2024 | Income Tax, Income Tax for NRI | 0 Comments

Tax Liability: The recipient of the gift, whether the NRI or the resident Indian, may be subject to tax on the value of the gift received. However, specific tax implications can vary based on the nature and value of the gift, as well as any applicable Double Taxation Avoidance Agreements (DTAA) between countries.

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Download Tax Profit and Loss report from 5Paisa

by | 22 June 2024 | Income Tax | 0 Comments

At 5Paisa, traders can easily download their Profit and Loss (P&L) Report online, which serves as a vital document for calculating income tax on trading activities.

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VPF (Voluntary Provident Fund) – Interest Rate, Features and Tax Benefits

by | 19 June 2024 | Income Tax | 0 Comments

A Voluntary Provident Fund (VPF) is an additional contribution scheme designed for salaried employees to bolster their provident fund savings beyond the standard Employee Provident Fund (EPF) contribution.

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Income Tax Return (ITR) Form for AY 2016-17 (FY 2015-16)

by | 31 May 2024 | Income Tax | 0 Comments

Filing income tax returns is a fundamental obligation for every taxpayer, and selecting the appropriate Income Tax Return (ITR) form is the first step in this process. For the Assessment Year 2016-17, the Income Tax Department has designated various ITR forms tailored to different types of incomes and taxpayers.

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