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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

by | 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...

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

by | 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...

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

by | 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...

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

by | 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...

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How to Report Short Term Capital Gain in ITR 2

by | 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...

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Documents Required for Filing ITR for Business in India 2025

by | 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...

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

by | 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...

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

by | 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...

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How Many Years of ITR Required for a Visa 2025?

by | 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...

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

by | 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...

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Understanding Income Tax Department Notifications: What You Need to Know

by | 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,

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Compliance Portal: Tax liability from Investment in Securities

by | 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

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Compliance Portal: Tax liability on Expenditure

by | 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.

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Compliance Portal: Information Confirmation for Non-Filing of Return

by | 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.

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Compliance Portal: Income Tax Information Summary

by | 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.

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Compliance Portal: Non-Filing of Returns

by | 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).

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Compliance Portal: Information Detail

by | 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.

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Compliance Portal: Tax Liability on Cash Deposits

by | 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,

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Compliance portal: Tax liability from Sale of Immovable property

by | 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,

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Compliance Portal: Tax Liability for House Property

by | 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.

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Update Your Income Tax e-Filing Portal Profile the Right Way: Step-by-Step Guide

by | 28 May 2024 | Income Tax | 0 Comments

Important Keyword: ITR Form, ITR Form Particulars. Words: 1356, Read time: 7 Minutes. 1. Why Update Your Details?2. Which Information Can You Update?3. What do You Need to Update Your Profile?4. Updating Your Details: Step-by-Step ProcessStep 1: Access Logging-InStep...

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How to File ITR for Zerodha?

by | 22 June 2024 | Income Tax | 0 Comments

A Zerodha trader needs to file an Income Tax Return (ITR) based on the income earned from trading in equities, mutual funds, or derivatives.

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Section 36 of Income Tax Act, 1961

by | 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.

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Download Tax Profit and Loss report from Zerodha

by | 29 June 2024 | Income Tax | 0 Comments

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

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Save yourself from paying excess TDS

by | 16 June 2024 | Income Tax | 0 Comments

Effective planning involves managing income sources, assessing investments, and estimating total income for the fiscal year to minimize TDS Payments. For instance, if your projected income falls below the taxable limit, you can avoid excess TDS payments on income.

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PAN Application (Form 49AA) for NRI on UTIITSL

by | 31 May 2024 | Income Tax | 0 Comments

A Non-Resident Indian (NRI) is an Indian citizen who has spent significant time overseas. According to Indian law, a person is considered an NRI if they have stayed outside India for more than 120 days in a financial year.

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Section 245 of Income Tax Act

by | 3 June 2024 | Income Tax | 0 Comments

The Income Tax Department sends various notices and intimations to taxpayers for different reasons. One specific type of intimation is under Section 245 of the Income Tax Act.

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CTT: Commodity Transaction Tax

by | 6 May 2024 | Income Tax | 0 Comments

The Commodity Transaction Tax (CTT) was introduced by the Government of India in the 2013 Budget to regulate and tax transactions in the commodities trading market. Its implementation aimed to enhance government revenues, foster transparency, and mitigate speculative activities in commodity trading.

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Motilal Oswal: Download Holding Statement for Traders

by | 24 June 2024 | Income Tax | 0 Comments

You can easily download these statements from the Motilal Oswal brokerage platform, just like you would download Contract Notes and Tax Profit & Loss (P&L) Statements.

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ITR Documents Checklist: House Property Income

by | 27 May 2024 | Income Tax | 0 Comments

House property refers to any land or building, including the land attached to the building such as a courtyard, parking space, or compound. A taxpayer must report income earned from such property when filing their Income Tax Return (ITR).

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