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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

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...

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

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...

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

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...

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

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...

How to Report Short Term Capital Gain in ITR 2

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...

Documents Required for Filing ITR for Business in India 2025

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...

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

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...

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

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...

How Many Years of ITR Required for a Visa 2025?

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...

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

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

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,

Compliance Portal: Tax liability from Investment in Securities

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

Compliance Portal: Tax liability on Expenditure

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.

Compliance Portal: Information Confirmation for Non-Filing of Return

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.

Compliance Portal: Income Tax Information Summary

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.

Compliance Portal: Non-Filing of Returns

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).

Compliance Portal: Information Detail

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.

Compliance Portal: Tax Liability on Cash Deposits

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

Compliance portal: Tax liability from Sale of Immovable property

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,

Compliance Portal: Tax Liability for House Property

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.

Set Off and Carry Forward Losses

Loss remaining after set-off refers to the portion of the loss that taxpayers can carry forward to future years to offset against future incomes.

Income Tax Bill 2025: Download PDF, Key Features, Objectives & Provisions

Explore the Income Tax Bill 2025—lower tax rates, increased deductions, and anti-tax evasion measures for a simplified and efficient tax system in India.

Tax Payable on 50 Lakhs Income | Find Out Now

Understand the taxes payable for ₹50 lakhs income, along with tips on managing tax liabilities effectively and exploring possible exemptions.

How to Download pre-filled JSON and File ITR Using JSON File on the New IT Portal for AY 2022-23?

In the onset of the Financial Year 2021-22, the Central Board of Direct Taxes (CBDT) has ushered in a new era by introducing JSON Utilities for the filing of Income Tax Returns (ITR).

Arrears of Salary- Taxability & Relief under Section 89(1)

When a taxpayer receives salary arrears or advances, or profits in place of salary, relief can be sought under Section 89(1) of the Income Tax Act.

Open a trading account online on ICICI Direct

You can open a trading account online with ICICI Direct. The transformation of stock markets from an open outcry system to an electronic system has made trading more efficient and accessible.

Income from Let out House Property

it’s crucial to grasp the tax implications associated with different types of House Property Income. Under the Income Tax Act, House Property Income falls into three main categories

National Savings Certificate (NSC)

The National Savings Certificate (NSC) is a trusted investment option offered by the Government of India through post offices, aimed at encouraging savings among individuals.

AY 2021-22 File ITR-2 Form for Income from Capital Gains

ITR-2 Form serves as the Income Tax Return form for individuals and HUFs who lack any business or professional income.

Market Linked Debentures – Taxation, Benefits, and Risks

Market Linked Debentures (MLD) are a type of non-convertible debentures where the returns are not fixed but rather tied to the performance of the market.