Income Tax

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

by Shakshi Bharti | Jun 5, 2025

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...

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 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...

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

by Shakshi Bharti | Jun 5, 2025

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

by Shakshi Bharti | Jun 5, 2025

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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.

Chapter VIII Finance Act: Equalization Levy

by Shakshi Bharti | 10 May 2024 | Income Tax, Income Tax filing | 0 Comments

India took a significant step in 2016 with the introduction of the Equalization Levy. This levy aimed to address the challenge of taxing digital transactions conducted by non-resident companies within the country’s borders.

Senior Citizens Savings Scheme

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

Senior citizens hold a special place in Indian society, and it is crucial to ensure they have a reliable income during their retirement years.

DTAA – Double Taxation Avoidance Agreement: Definition, Types, and Benefits

by Shakshi Bharti | 15 May 2024 | Income Tax, Income Tax for NRI | 0 Comments

For Non-Resident Indians (NRIs) employed in foreign countries, the Double Taxation Avoidance Agreement (DTAA) serves as a vital tool to prevent the occurrence of double taxation on income earned both in their country of residence and in India.

Apply for Change/Correction in PAN on TIN-NSDL Portal

by Shakshi Bharti | 1 June 2024 | Income Tax | 0 Comments

Taxpayers have the option to rectify any inaccuracies or errors in their PAN details by applying for a change or correction. This process can be conveniently done online through TIN-NSDL by filling out Form 49A.

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....

DDT: Dividend Distribution Tax

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

Dividend Distribution Tax (DDT) was a tax levied on companies that distributed dividends to their shareholders, akin to Tax Deducted at Source (TDS).

Compliance Portal: Tax Liability from Purchase of a Movable Asset

by Shakshi Bharti | 25 April 2024 | Income Tax | 0 Comments

Taxpayers often make substantial expenditures on movable assets without filing their Income Tax Returns (ITRs). According to the Income Tax Act, any unexplained investment is deemed as income for the financial year under sections 69 and 69B.

Due Date for ITR Filing: Complete Guide for FY 2024-25 You Must Know

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

The due date for ITR filing is the most important deadline for every taxpayer in India. Filing your Income Tax Return (ITR) on or before this date ensures you stay compliant with the law, avoid penalties, and can claim any refunds due to you promptly. Whether you are...

Relief under section 90, 90A and 91

by Shakshi Bharti | 14 May 2024 | Income Tax, Income Tax for NRI | 0 Comments

To prevent double taxation of the same income, relief is available under sections 90, 90A, and 91 of the Income Tax Act. Tax relief can be claimed as follows:

Download Consolidated Capital Gains Statement from KARVY

by Shakshi Bharti | 30 April 2024 | Income Tax | 0 Comments

Investors who use multiple platforms for their investments or invest offline as well can benefit from the consolidated capital gains statement mail-back service offered by RTAs like CAMS and KARVY.