Income Tax

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

by Shakshi Bharti | Jun 5, 2025

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...

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

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?

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

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...

Why Is There a Delay in ITR Refund? Reasons & Practical Solutions 2025

by Shakshi Bharti | Jun 5, 2025

Understanding the Income Tax Refund ProcessTop Reasons for Delay in ITR Refund1. Incorrect or Unvalidated Bank Account Details2. ITR Form Mismatch or Selection Error3. Mismatch Between Form 26AS/AIS and Filed Return4. Return Marked for Scrutiny or Manual Review5....

CPC in ITR Means: Everything You Need to Know About ITR Processing at CPC Bengaluru

by Shakshi Bharti | Jun 5, 2025

If you have recently filed your Income Tax Return (ITR) online or are planning to do so, you might have come across the term “CPC in ITR means” in status updates or official communications. But what exactly does it mean? Simply put, CPC in ITR means the Centralized...

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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.

Budget 2020: Highlights

by Shakshi Bharti | 11 May 2024 | Income Tax, Income Tax filing | 0 Comments

The Finance Minister, Nirmala Sitharaman, delivered the Budget 2020 speech on February 1, 2020. Lasting a record-breaking 2 hours and 30 minutes, her address unveiled several significant announcements that shaped the economic landscape.

Section 44AB: Tax Audit under Income Tax Act

by TeamFinodha | 27 April 2024 | Income Tax | 0 Comments

Tax audit under Section 44AB of the Income Tax Act is crucial for meticulously examining the books of accounts to detect any discrepancies, errors, or potential instances of tax evasion.

Capital Gains Tax on Movable Property, Jewelry, Car

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

For instance, when selling gold jewelry, luxury cars, or art collections, individuals may trigger capital gains tax liabilities based on the profits earned from the sale.

Download Tax Profit & Loss Report from AngelOne

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

AngelOne allows you to download your Profit and Loss (P&L) Report online, which is crucial for calculating income tax on trading income.

Section 54D: Capital Gains Exemption on Compulsory Acquisition

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

Under Section 54D of the Income Tax Act, taxpayers can seek exemption from capital gains arising from the compulsory acquisition of land or buildings integral to industrial undertakings,

STT: Securities Transaction Tax

by Shakshi Bharti | 6 May 2024 | Income Tax, Income from Trading | 0 Comments

Before the introduction of the Securities Transaction Tax (STT), tax evasion was a concern as trading transactions often went unreported. In response, the Finance Act of 2004 introduced STT.

Difference Between ITR 1 and ITR 2: Which Form Should You File in 2025?

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

Understanding the difference between ITR 1 and ITR 2 is essential for every Indian taxpayer to ensure hassle-free income tax return filing online. The right form choice depends heavily on your income sources, financial profile, and compliance requirements....

Which ITR to file for Proprietorship Firms?

by Shakshi Bharti | 9 May 2024 | Income Tax, Income Tax filing | 0 Comments

HUFs and companies are required to file income tax, proprietorship firms are also obligated to file income tax. In India, a sole proprietorship is not taxed as a different entity,

What is ITR Return | Income Tax Filing Simplified

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

Learn what is ITR return, its significance in tax compliance, and the correct method to file your income tax return to avoid penalties and ensure accuracy.

Difference between Advance Tax and Self-Assessment Tax

by Shakshi Bharti | 17 June 2024 | Income Tax | 0 Comments

Understanding different types of tax payments can often lead to confusion among taxpayers. Two commonly misunderstood types are Advance Tax and Self-Assessment Tax.