Income Tax

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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...

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

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 File ITR After Due Date in India [2025 Guide + Penalty Details]

by Shakshi Bharti | Jun 5, 2025

If you have missed the Income Tax Return (ITR filing online) deadline, you might be wondering how to file ITR after due date without attracting hefty penalties or legal complications. The good news is that the Indian Income Tax Department allows taxpayers to submit a...

How Many Times ITR Can Be Revised? Everything You Need to Know About ITR Revision Rules in 2025

by Shakshi Bharti | Jun 5, 2025

If you’ve ever wondered how many times ITR can be revised after submitting your original Income Tax Return, you’re not alone. Many taxpayers worry about making mistakes in their ITR and whether they will be stuck with errors forever. The good news is that the Income...

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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.

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.

Income Tax on Gold

by TeamFinodha | 30 April 2024 | Income Tax | 0 Comments

Income Category: Income from selling gold mutual funds or ETFs is categorized as Capital Gains. If held for over 3 years, it’s LTCG; if less than 3 years, it’s STCG. Tax Rate: STCG is taxed at slab rates, and LTCG is taxed at 20% with indexation benefits.

LTA (Leave Travel Allowance): Meaning, Rules, Tax Exemptions and Conditions to claim

by Shakshi Bharti | 5 May 2024 | Income Tax | 0 Comments

Leave Travel Allowance (LTA) stands as an allowance integral to an employee’s Cost to Company (CTC), facilitating travel either individually or with family members to any destination within India.

How to Surrender PAN Card?

by Shakshi Bharti | 2 June 2024 | Income Tax | 0 Comments

Surrender PAN Card: The Income Tax Department (ITD) issues a Permanent Account Number (PAN), an alphanumeric identifier in card form, to individuals upon application. Each PAN allotted and PAN card issued remains valid for a lifetime.

Form 12BB: Investment Declaration

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

Form 12BB, also known as an Investment Declaration, holds significant importance for salaried individuals. Essentially, it entails a comprehensive disclosure of all tax-saving investments made during a specific Financial Year.

What Is TDS | Simple and Quick Explanation

by TeamFinodha | 14 December 2024 | Income Tax Knowledge, Income Tax | 0 Comments

Understand what is TDS (Tax Deducted at Source) means, its role in tax compliance, & how it affects financial reporting and cash flow management for businesses.

Can I File ITR for Last 3 Years Now? Here’s What You Need to Know in 2025

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

Many taxpayers often wonder, “Can I file ITR for last 3 years now?” especially when they realize that they have missed the tax return deadlines for several years. The good news is that the Indian Income Tax Department has provisions that allow taxpayers to file their...

Deferred Tax Asset (DTA)

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

Deferred Tax Liability (DTL) and Deferred Tax Asset (DTA) emerge as significant components within the Financial Statements. These entities serve as markers of the temporal misalignment between the recognition of income and expenses for financial reporting purposes versus taxation obligations.

Tax benefits for Senior Citizen and Super Senior Citizen

by Shakshi Bharti | 18 June 2024 | Income Tax | 0 Comments

Senior citizens, typically those aged 60 years or above but below 80 years, are eligible for specific tax concessions under the Income Tax Act.

E-File Nil ITR (Income Tax Return)

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

Nil ITR (Income Tax Return) refers to a return filed when the total income earned during a financial year falls below the basic exemption limit, which is currently set at INR 2,50,000. According to the Income Tax Act,