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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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Presumptive Taxation Scheme: Everything you need to know.

by | 27 April 2024 | Income Tax | 0 Comments

The presumptive taxation scheme, introduced by the Income Tax Act, 1961, offers relief to small taxpayers by simplifying the process of maintaining books of accounts and undergoing audits.

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How to Find the Password for ITR File (PDF/JSON) + Easy Guide to Reset or Access It

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

If you have downloaded your Income Tax Return (ITR) file but are stuck because you cannot open it, you’ve landed at the right place. The password for ITR file is designed to protect your sensitive tax information from unauthorized access. Knowing the correct password...

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LTA (Leave Travel Allowance): Meaning, Rules, Tax Exemptions and Conditions to claim

by | 5 May 2024 | Income Tax | 0 Comments

Leave Travel Allowance (LTA) stands as an allowance integral to an employee’s Cost to Company (CTC), facilitating travel either individually or with family members to any destination within India.

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Advance Tax: Rules, Calculations, and Due Dates

by | 17 June 2024 | Income Tax | 0 Comments

Advance tax, as the name implies, involves paying income tax in advance rather than in a single payment at the end of the financial year during the filing of Income Tax Returns (ITR).

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Download Contract Note for HDFC Securities Traders

by | 21 June 2024 | Income Tax | 0 Comments

HDFC Securities provides a contract note for every transaction you make on the stock exchange. You can also download this document from their portal. A contract note is a mandatory document that every stockbroker must issue.

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How To Pre-validate The Demat Accounts On The Income Tax e-Filing Portal?

by | 18 May 2024 | Income Tax | 0 Comments

One of the electronic methods is e-Verifying returns through a Demat Account.

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Section 143(1)(a): Notice for Proposed Adjustments

by | 4 June 2024 | Income Tax | 0 Comments

The Income Tax Department verifies the details provided in the return filed by the taxpayer. If there are any discrepancies, the department issues a notice or intimation to the taxpayer, instructing them to make corrections.

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CAMS: Services, Features & Consolidated Capital Gains Statement

by | 7 May 2024 | Income Tax, Income from Trading | 0 Comments

Computer Age Management Services (CAMS) operates as a SEBI-regulated entity within the Registrar and Transfer (R&T) category. This platform offers technology-driven services and processing solutions to mutual fund companies and investors alike.

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How to View or Upload Income Tax Forms?

by | 18 May 2024 | Income Tax | 0 Comments

The facility to access filed forms is provided to all registered users of the e-Filing portal upon logging in. This feature enables users to review previously submitted income tax forms.

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AMT – Alternative Minimum Tax under Section 115JC

by | 26 April 2024 | Income Tax | 0 Comments

The Income Tax Department introduced the Alternate Minimum Tax (AMT) as a measure to ensure that taxpayers, excluding companies, contribute a minimum amount of tax, particularly those who exploited incentives and deductions excessively, resulting in zero tax liability.

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