Income Tax : AY 2026-27 requires structured reporting of long-term and short-term gains from shares and mutual funds. Particular attention is n...
Income Tax : Wrong ITR form selection, incorrect residential status, and missing Indian income disclosures can create tax complications for NRI...
Goods and Services Tax : This article provides a summary of crypto taxation in India, covering the 30% income tax on gains, 1% TDS, and 18% GST on platform...
Income Tax : Understand Debt Mutual Fund taxation for FY24-25, including STCG/LTCG rules based on purchase/redemption dates, and how to accurat...
Income Tax : Simplify your ITR-2 filing for AY 2025-26 with this step-by-step guide, covering capital gains, property sales, and navigating the...
Income Tax : CBDT has facilitated taxpayers to file their Income Tax Returns (ITRs) for the Assessment Year 2024-25 (relevant to Financial Year...
Income Tax : Stay ahead of tax compliance! Explore the latest Income Tax Return Forms (ITR Forms) notified by CBDT for A.Y. 2024-25. Get insigh...
Income Tax : Income Tax Department Central Board of Direct Taxes, e-Filing Project ITR 2 – Validation Rules for AY 2023-24 – Version 1....
Income Tax : The Indian Income Tax Department has recently opened the ITR-2 filing window, enabling individuals and Hindu Undivided Families (H...
Income Tax : CBDT notified Income-tax Return Forms (ITR Forms) for Assessment Year 2023-24 vide Notifications No. 04 & 05 of 2023 dated 10.02.2...
Income Tax : The amendment replaces the existing ITR-2 form with an updated version for AY 2026-27. The ruling mandates taxpayers to adopt the ...
Income Tax : CBDT amends Income-tax Rules, 1962; introduces new ITR-2 form effective from 1st April 2025 via Notification No. 43/2025 dated 3rd...
Income Tax : Explore the Ministry of Finances corrigendum (Notification No. 22/2024) on Income-tax (Amendment) Rules, 2024. Learn about changes...
Income Tax : Stay updated on Income Tax rules with CBTD Notification No. 19/2024. Explore amendments effective from April 1, 2024, impacting ru...
Income Tax : CBDT notifies ITR forms for AY 2023-24/ FY 2022-23 Except ITR-7 vide Notification No. 04/2023-Income Tax Dated: 10.02.2023 and not...
These instructions are guidelines for filling the particulars in Income-tax Return Form-2 for the Assessment Year 2020-21 relating to the Financial Year 2019-20. In case of any doubt, please refer to relevant provisions of the Income-tax Act, 1961 and the Income-tax Rules, 1962. 1. Assessment Year for which this Return Form is applicable This Return […]
It is advised to choose the correct ITR form in order to avoid further notice of defective return. Following forms below gives you insight to file correct ITR form as per Nature of Income and Status of person A.Y. 2020-21: ITR 1: (SAHAJ) 1. Resident Individual whose total income does not exceed 50 lakhs can […]
Step by step procedure for online filing of ITR-2 (AY 2020-21) for individuals with income over Rs 50 lakhs or foreign income. Extend the deadline for filing return of income.
ITR 1, ITR 2, ITR 3 & ITR 4 for AY 2020-21 are available for e-Filing. Other ITRs will be available shortly. Please read the instruction given above before start downloading and using the ITR utility for for AY 2020-21. The utility by default will get downloaded in your system “download” folder in a compressed […]
Who Can File ITR 1? -Resident Individuals & HUF can File this form. -Having Income from Salary or Pension, Other Income like Bank Interest, interest from IT Refund, Agricultural income up to Rs.5000/. –Income from one House Property. -Income from the above shall not exceed Rs. 50 Lakhs for filling this Form. Who can not […]
Discover the new additions and updates in the ITR-2 form for the financial year 2019-20. Learn how to file your income tax returns online with ease.
CA Kaushik Mahendrabhai Makwana Due to Covid-19, as we are aware that the Government of India is taking various major steps to recover our economy. Simultaneously, the Government of India has provided relief measures, some of which, are as under: – Due date for filing the return of income for all taxpayers has been extended […]
All Assessees are now required to file their Returns online except Super Senior Citizens are given option to submit Return in paper mode provided the Computation does not have any income chargeable under head of Profits and Gains from Business or Profession. Changes in the ITR Requirements The New ITR Forms have been notified vide […]
Brief on Applicability of Income tax return (ITR) form for Financial Year (FY 2019-20)/Assessment Year (AY) AY 2020-21 All the taxpayers are mandatorily required to file their ITRs electronically except individuals over the age of 80 years who have the option of filing the ITR in paper format as well. First step would be to […]
Stay up-to-date with the latest changes in Income Tax Return forms for AY 2020-21. Learn about the modifications in ITR criteria and Form 1.
