This guide makes it easier to choose the right Income Tax Return (ITR) form for Assessment Year (AY) 2025-26 (Financial Year 2024-25). It explains each ITR form (ITR-1 Sahaj, ITR-2, ITR-3, ITR-4 Sugam, ITR-5, ITR-6, ITR-7) by outlining who can use each one, who cannot, and the specific income sources or taxpayer categories they cover. The guide also notes important updates for AY 2025-26, including the inclusion of certain LTCG in ITR-1 and ITR-4, changes in VDA reporting, updated capital gains segregation, higher thresholds for asset and liability reporting, and required deduction disclosures. The purpose is to help individuals and entities choose the right form for accurate and compliant tax filing.

This blog post announces the release of ITR-2 and ITR-3 Excel utilities for AY 2025-26. It explains which taxpayers must use these forms and highlights important updates from the Finance Act, 2024. These updates include changes to capital gains segregation, share buyback rules, and higher asset reporting thresholds. The post describes the benefits of using Excel utilities and offers a clear, step-by-step guide for filing. It stresses key points like the e-verification deadline and the need for accuracy and good record-keeping to ensure smooth compliance.

This comprehensive guide demystifies the process of buying property from a Non-Resident Indian (NRI) in India. It highlights critical tax implications for the buyer, particularly regarding Tax Deducted at Source (TDS), and outlines essential legal due diligence steps to ensure a clear title. The guide also covers FEMA regulations for payment, required documentation for buyers, and the importance of professional assistance, empowering prospective buyers to navigate this specific real estate transaction securely and compliantly.

The Central Board of Direct Taxes (CBDT) has announced the Cost Inflation Index (CII) for FY 2025-26 as 376. This blog post explains what CII is, how the new index will be applied from AY 2026-27, who it impacts, and provides an example of how it reduces taxable long-term capital gains, particularly for real estate acquired before July 23, 2024. It highlights the importance of understanding this update for accurate tax filing.

This blog provides a simple guide to Income Tax Section 54, explaining how individuals and HUFs can save tax on long-term capital gains from selling a residential house by reinvesting in a new one. It covers the core conditions, timelines, and the use of the Capital Gains Account Scheme. The main focus is on the crucial update allowing exemption for investing in two houses (if capital gain is up to ₹2 Crore), emphasizing that this benefit can be used only once in a lifetime. The post highlights common pitfalls and advises on documentation and expert consultation.

This blog provides a simple guide to Income Tax Section 54, explaining how individuals and HUFs can save tax on long-term capital gains from selling a residential house by reinvesting in a new one. It covers the core conditions, timelines, and the use of the Capital Gains Account Scheme. The main focus is on the crucial update allowing exemption for investing in two houses (if capital gain is up to ₹2 Crore), emphasizing that this benefit can be used only once in a lifetime. The post highlights common pitfalls and advises on documentation and expert consultation.

This blog provides a simple guide to Income Tax Section 54, explaining how individuals and HUFs can save tax on long-term capital gains from selling a residential house by reinvesting in a new one. It covers the core conditions, timelines, and the use of the Capital Gains Account Scheme. The main focus is on the crucial update allowing exemption for investing in two houses (if capital gain is up to ₹2 Crore), emphasizing that this benefit can be used only once in a lifetime. The post highlights common pitfalls and advises on documentation and expert consultation.

The Income Tax Department has notified updated ITR forms (ITR-1, ITR-2, ITR-3, ITR-4) for FY 2024-25 (AY 2025-26) incorporating several crucial changes. This blog details 9 important adjustments, including relaxed eligibility for ITR-1/ITR-4, mandatory TDS section reporting, removal of Aadhaar Enrolment ID acceptance, detailed disclosures for tax regime options, bifurcated capital gains reporting, new treatment for buyback proceeds, raised asset reporting threshold, additional requirement for disability deductions, and streamlined capital gains sections, all aimed at ensuring accurate and compliant tax filing.

This blog explains the key exemptions available under India’s capital gains tax laws for FY 2025-26, including the latest updates from Budget 2025. It covers who can claim each exemption, how to utilize the Capital Gain Account Scheme, and the correct process for claiming exemptions in your income tax return.

The CBDT has notified the ITR forms (1-7) for AY 2025-26, incorporating changes from the Finance Act, 2024. This blog provides a comprehensive overview of the key modifications in each form, focusing on changes in capital gains reporting, eligibility criteria, deduction disclosures, and other compliance requirements to help taxpayers prepare for the upcoming filing season.

The Central Board of Direct Taxes (CBDT) has notified ITR Form 2 for Assessment Year 2025-26 through Notification No. 43/2025 dated May 5, 2025. This early release benefits individuals and HUFs without business/professional income but potentially having capital gains, foreign assets, multiple house properties, or income over ₹50 lakh (₹50 lakh), allowing more time for preparation. The blog explains who should file ITR-2, highlights the significance of early notification for taxpayers and professionals, discusses potential areas of change (like capital gains reporting), and outlines actionable next steps for taxpayers to begin their FY 2024-25 tax filing preparations.

This blog post details the significant updates in India's Income Tax Return (ITR) forms for Assessment Year 2025-26 (FY 2024-25). It covers the default New Tax Regime and the opt-out process using Form 10-IEA, major changes in capital gains reporting including simplification for small investors (LTCG up to ₹1.25 lakh in ITR-1/4) and bifurcation of Schedule CG (pre/post July 23, 2024). It also explains key tax reporting updates like mandatory TDS section codes, enhanced deduction reporting via dropdowns, new rules for Section 80GG (Form 10BA), increased presumptive tax limits, and the revised threshold for Schedule AL. It concludes with a guide on choosing the correct ITR form and important filing deadlines.