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Source: Live Mint Mint gives you a handy guide on how to report capital gains from shares and equity mutual funds. Choose the right ITR form ITR-2 is the most common form for individuals and Hindu Undivided Families (HUFs) who have income from capital gains but no business income. For individuals or HUFs with income from…
Source: Live Mint ITR 1 (Sahaj) is meant for resident individuals and Hindu Undivided Families (HUFs) with total annual income up to ₹50 lakh from sources like salary, pension, interest, dividends, and rent from one house. LTCG relief This year’s Budget raised the tax-exempt limit for long-term capital gains (LTCG) on securities from ₹1 lakh…
Source: Live Mint Income Tax: Central Board of Direct Taxes (CBDT) has finally notified income tax return filing forms (ITR-1 and ITR-4) via notification dated April 29, 2025. Taxpayers were eagering waiting for the tax forms to be released for FY 2024-25. The last date to file income tax return (ITR) for individual taxpayers is…
Source: Live Mint There has been a marked increase in the number of income tax notices issued to taxpayers across India in recent months. These communications – on everything from defective returns to demands for additional taxes – have caused anxiety and confusion, especially among individual taxpayers. This article delves deeper into the reasons behind…
