Income Tax > Income Tax Knowledge
by Shakshi Bharti | Jun 5, 2025
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...
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?...
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...
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...
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...
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...
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...
by Shakshi Bharti | 5 June 2025 | Income Tax, Income Tax Knowledge | 0 Comments
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?...
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...
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...
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...
by Shakshi Bharti | Jun 5, 2025
Table of Contents Understanding Capital Gains and How They Are Taxed What is ITR 4 and Who Should Use It? Capital Gains in ITR 4: Permissible or Problematic? Presumptive Income and Its Relation to Capital Gains Limitations of ITR Forms: Know Before You File Common...
by Shakshi Bharti | Jun 5, 2025
Table of Contents What is an Income Tax Return (ITR)? Why ITR is Important: 7 Crucial Reasons Explained 1. Enhances Your Financial Credibility 2. Serves as Proof of Income and Address 3. Essential for Visa Applications 4. Facilitates Claiming Tax Refunds 5. Enables...
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,
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
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.
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.
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.
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).
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.
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,
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,
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.
by Shakshi Bharti | 20 June 2024 | Income Tax | 0 Comments
These documents include a Capital Gain statement, Tax P&L (Profit and Loss), Contract Notes, and Ledger/Account Statements. However, accessing these documents necessitates first creating an HDFC Securities account and logging in.
by Shakshi Bharti | 5 June 2025 | Income Tax, Income Tax Knowledge | 0 Comments
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?...
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.
by Shakshi Bharti | 27 May 2024 | Income Tax | 0 Comments
Form 61A is an important financial report that banks and other financial institutions need to submit under section 285BA of the Income-tax Act, 1961.
by Shakshi Bharti | 18 May 2024 | Income Tax | 0 Comments
The Digital Signature Certificate (DSC) serves as an electronic signature for taxpayers, verifying and confirming their identity in the digital realm. It encompasses vital details like the user’s name, PIN code, email address, and the certificate’s issuance date.
by TeamFinodha | 26 April 2024 | Income Tax | 0 Comments
Section 36 of the Income Tax Act outlines specific expenses that are permissible for computation of income taxable under the head of business and profession.
by Shakshi Bharti | 10 May 2024 | Income Tax, Income Tax filing | 0 Comments
The Union Finance Bill 2021 introduced a novel provision, Section 194P, aimed at simplifying income tax filing for senior citizens aged 75 years and above. Effective from April 1, 2021, this section exempts eligible senior citizens from the requirement of filing income tax returns.
by Shakshi Bharti | 20 May 2024 | Income Tax | 0 Comments
Starting from the financial year 2023-24, the new tax regime has been designated as the default option for taxpayers. However, individuals with business or professional income are required to actively choose the old regime by completing Form 10IEA.
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.
by Shakshi Bharti | 29 May 2024 | Income Tax, Income Tax Glossary, ITR Forms & Documents | 0 Comments
To provide proof of the TDS deducted and deposited on their salary income, employers issue Form 16, which is a TDS certificate, to employees every financial year.
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