Income Tax

The Latest

Documents Required for Filing ITR for Business in India 2025

by Shakshi Bharti | Jun 5, 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...

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

by Shakshi Bharti | 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...

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

by Shakshi Bharti | 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...

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

by Shakshi Bharti | 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...

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

by Shakshi Bharti | 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...

How to Report Short Term Capital Gain in ITR 2

by Shakshi Bharti | 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...

Documents Required for Filing ITR for Business in India 2025

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

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

by Shakshi Bharti | 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...

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

by Shakshi Bharti | 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...

How Many Years of ITR Required for a Visa 2025?

by Shakshi Bharti | 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...

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

by Shakshi Bharti | 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...

How to Fill Balance Sheet in ITR 3 — Complete Guide

by Shakshi Bharti | Jun 5, 2025

What Is the Balance Sheet in ITR 3?Who Needs to Fill the Balance Sheet in ITR 3?Key Sections in the Balance Sheet: What You Need to ReportSource of FundsApplication of FundsStep-by-Step Guide: How to Fill Balance Sheet in ITR 3Common Mistakes to AvoidWhat’s New in AY...

How to Check ITR Status Online in 2025

by Shakshi Bharti | Jun 5, 2025

What is ITR Status and Why Should You Check It?Prerequisites for Checking ITR StatusStep-by-Step Guide: How to Check ITR Status Online (Without Login)Step-by-Step Guide: Check ITR Status After Logging InUnderstanding Common ITR Status TermsCommon Issues While Checking...

Read anything...

Understanding Income Tax Department Notifications: What You Need to Know

by Shakshi Bharti | 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,

Compliance Portal: Tax liability from Investment in Securities

by Shakshi Bharti | 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

Compliance Portal: Tax liability on Expenditure

by Shakshi Bharti | 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.

Compliance Portal: Information Confirmation for Non-Filing of Return

by Shakshi Bharti | 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.

Compliance Portal: Income Tax Information Summary

by Shakshi Bharti | 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.

Compliance Portal: Non-Filing of Returns

by Shakshi Bharti | 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).

Compliance Portal: Information Detail

by Shakshi Bharti | 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.

Compliance Portal: Tax Liability on Cash Deposits

by Shakshi Bharti | 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,

Compliance portal: Tax liability from Sale of Immovable property

by Shakshi Bharti | 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,

Compliance Portal: Tax Liability for House Property

by Shakshi Bharti | 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.

How to Fill Balance Sheet in ITR 3 — Complete Guide

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

Open a Trading Account online on Upstox

by Shakshi Bharti | 24 June 2024 | Income Tax | 0 Comments

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

Fund of Funds (FOF): Meaning, Types and Taxation

by TeamFinodha | 29 April 2024 | Income Tax | 0 Comments

A Fund of Funds (FoF) represents a distinct approach in the realm of mutual funds. Rather than directly venturing into individual stocks, bonds, or other securities,

Is It Necessary to File ITR of Deceased Person? A Complete Guide for Legal Heirs

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

Losing a loved one brings emotional and financial challenges, and amidst these, many legal heirs wonder: is it necessary to file ITR of deceased person? The answer is often yes, especially if the deceased earned taxable income in the financial year. Filing the Income...

Form 16A: TDS on Income other than Salary

by Shakshi Bharti | 29 May 2024 | Income Tax | 0 Comments

Form 16A serves as a certificate of TDS (Tax Deducted at Source) specifically on income other than salary. This includes payments such as commission, contract fees, professional charges, rent, interest, etc.

What Is Turnover of a Company? | Meaning & Calculation

by TeamFinodha | 13 February 2025 | Income Tax, Income Tax Knowledge, MCA, MCA Knowledge | 0 Comments

What is turnover of a company? Understand its definition, calculation methods, and how it reflects a business’s financial health and performance.

Variable Costs

by TeamFinodha | 26 April 2024 | Income Tax | 0 Comments

Variable costs exhibits a direct correlation with fluctuations in sales volume or production output. As production escalates, variable expenses surge proportionally, and conversely, they diminish with production downturns.

Accept / Reject Tax Audit Report on Income Tax e-Filing Portal

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

Exactly! Under Section 44AB of the Income Tax Act, if a taxpayer’s total income exceeds the specified threshold, they are required to undergo a tax audit conducted by a practicing Chartered Accountant. Once the tax audit is completed, the CA prepares and uploads the Tax Audit Report on the Income Tax e-Filing portal.

Clubbing of Income under Section 64

by TeamFinodha | 2 May 2024 | Income Tax | 0 Comments

Clubbing of income occurs when the income of another person is included in the total income of the assessee as per the provisions outlined in Section 64 of the Income Tax Act.

Kotak Securities: Create an account and Log in, Download Holding Statement, Tax P&L Report, and Ledger

by Shakshi Bharti | 20 June 2024 | Income Tax | 0 Comments

These documents include Tax P&L (Profit and Loss), Ledger or Account Statement, Holding Statement, and others. However, accessing these documents requires first creating a Kotak Securities account and logging in.