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Source: Live Mint Barring ITR-1 and ITR-4, the income tax department has yet not released the excel utilities of other income tax forms. Although the last date to file income tax return is still three months away after it was deferred to Sept 15, taxpayers are still looking forward to the release of excel utilities…
Source: Live Mint The Income-Tax (I-T) Department has on May 30 made available for taxpayers the facility of Excel Utility for ITR-1 and ITR-4 for AY2025-26. In a post on social media platform X, the I-T Dept said, “Attention taxpayers! The Excel Utility for ITR-1 and ITR-4 for AY 2025-26 has been enabled and is…
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 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…
