Income Tax > Income Tax Knowledge

The Latest

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

by Shakshi Bharti | Jun 5, 2025

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

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

Table of Contents 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 It What is a condonation request? When is a condonation request accepted? How to file a condonation request?...

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

Table of Contents What is Pension Income? Understanding the Basics Is Pension Income Taxable? Clarifying Taxable Pension Rules Who Can Use ITR 1 to Report Pension Income? Where to Show Pension Income in ITR 1? Step-by-Step Instructions How to Report Family Pension If...

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

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

Table of Contents What is ITR 6? ITR 6 Meaning: Who Should File? Key Features of ITR 6 Structure of ITR 6 Form ITR 6 Filing Process (Step-by-Step Guide) Common Challenges in Filing ITR 6 Pro Tips to File ITR 6 Smoothly ITR 6 Filing Due Dates for AY 2025–26 Conclusion...

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

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

Table of Contents Who Should File ITR-2? Documents Required Before You Begin Step-by-Step Guide: How to Fill ITR 2 Capital Gains Step 1: Log in to the Income Tax e-Filing Portal Step 2: Choose Your Filing Details Step 3: Navigate to the Income Schedule Step 4: Fill in...

How to Report Short Term Capital Gain in ITR 2

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

Table of Contents Understanding ITR 2 Form Who Should Use ITR 2 for STCG Filing? Where and How to Report Short Term Capital Gain in ITR 2 Steps to Report Short Term Capital Gain in ITR 2: STCG Tax Rates Applicable in FY 2024-25 Deductions and Exemptions: What You Can...

Documents Required for Filing ITR for Business in India 2025

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

Table of Contents Who Needs to File Business ITR? Master Checklist: Documents Required for Filing ITR for Business 1. General Mandatory Documents 2. Financial Statements 3. Business-Specific Documents 4. Tax Payment Proofs 5. Optional But Useful Documents Common...

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

Table of Contents 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 Remember AY vs FY: What’s the Difference and Why It Matters? Consequences of Missing the ITR Start or End...

How Many Years of ITR Required for a Visa 2025?

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

Table of Contents Why Is ITR Important for Visa Applications? How Many Years of ITR Are Required for a Visa? Exceptions and Alternate Income Proof Options Other Key Documents Often Required Alongside ITR Tips to Strengthen Your Visa File with ITR What Happens If You...

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

Table of Contents 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 3 Changes in ITR 3 for AY 2025-26 Common Mistakes to Avoid While Filing ITR 3 Why Choose Finodha for Filing ITR 3? Conclusion...

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

by Shakshi Bharti | Jun 5, 2025

Table of Contents Understanding the Income Tax Refund Process Top Reasons for Delay in ITR Refund 1. Incorrect or Unvalidated Bank Account Details 2. ITR Form Mismatch or Selection Error 3. Mismatch Between Form 26AS/AIS and Filed Return 4. Return Marked for Scrutiny...

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...

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.

LTC Cash Voucher Scheme

by Shakshi Bharti | 4 May 2024 | Income Tax | 0 Comments

The LTC Cash Voucher scheme, introduced to stimulate consumer demand and offer tax benefits amidst Covid-related travel constraints, provides employees with alternative expenditure choices to utilize their LTA or LTC benefits.

Download Tax Profit and Loss report from Kotak Securities

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

Kotak Securities allows you to download your Profit and Loss (P&L) Report online, which is crucial for calculating income tax on trading income. This report, similar to a Tax P&L statement, is essential for tax purposes.

How to apply for DSC through e-Mudra?

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

e-Mudra, the Certifying Authority appointed by the Controller of Certifying Authority (CAA), is responsible for issuing DSCs. Individuals or organizations can apply for DSCs online by visiting the e-Mudra website.

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.

File ITR Online | Fast & Secure Income Tax Return

by Shakshi Bharti | 21 April 2025 | Income Tax, Income Tax Knowledge | 0 Comments

Easily file your ITR online with expert assistance. Fast, secure, and government-compliant tax filing services for individuals & businesses.

Form 10BA: Claim Deduction under section 80GG

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

Form 10BA serves as a declaration for taxpayers seeking a deduction under section 80GG for rent paid on rental property. To claim this deduction, two conditions must be met:

ITR-U: Updated Income Tax Return

by Shakshi Bharti | 8 May 2024 | Income Tax, Income Tax filing | 0 Comments

Section 139(8A) of the Income Tax Act outlines the eligibility and restrictions for filing an Updated Income Tax Return (ITR-U). According to this provision, taxpayers who have previously filed an Original ITR under Section 139(1),

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,

Section 80CCH: Deduction for Agniveer

by Shakshi Bharti | 14 June 2024 | Income Tax | 0 Comments

One of the benefits included in the Agnipath scheme is a tax deduction under Section 80CCH of the Income Tax Act.

Accounting Standard 2 (AS 2) – Valuation of Inventories

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

Accounting Standard 2 (AS 2) addresses the valuation and accounting treatment of inventories in a business. It provides guidelines on how to value inventory and disclose it in financial statements.