The CBDT has released the updated ITR-Form 5 for Assessment Year 2025-26 (applicable to FY 2024-25) via Notification No. 42/2025 dated May 3, 2025. This blog post details who needs to file ITR-5, discusses anticipated key changes aligning with recent amendments and enhanced disclosure norms, outlines implications for taxpayers like Firms and LLPs, and provides actionable steps for compliance.

The blog post announces the early notification of ITR-1 (Sahaj) and ITR-4 (Sugam) forms by the CBDT for the Assessment Year 2025-26 (corresponding to Financial Year 2024-25). It details the eligibility criteria for using these forms, explains the significance of the early notification for taxpayers (more preparation time, potentially earlier filing utility release), clarifies the difference between form notification and utility release, reminds readers about the AY/FY distinction, and advises taxpayers to start gathering necessary documents while waiting for the official filing utilities to be launched on the Income Tax portal.

This blog post details how to report capital gains from shares, mutual funds, and property in the Income Tax Return (ITR) for Assessment Year 2025-26 (Financial Year 2024-25). It explains the classification of gains (STCG/LTCG), calculation methods considering grandfathering, the significant impact of the Finance (No.2) Act 2024 changes effective July 23, 2024 (including curtailed indexation and revised tax rates), set-off rules, and specific ITR schedules (like CG and 112A). It also covers capital gains exemptions and emphasizes reconciliation with AIS/TIS.

Your FY 2024-25 investments directly impact your AY 2025-26 tax return. This guide covers tax-saving deductions (80C, 80D), taxable income (interest, dividends), capital gains reporting, and regime selection (old vs new). Ensure accurate filing with proper documentation.

The Income Tax Department has released an updated Excel utility for ITR-3 for Fiscal Year 2024-25. This blog describes how to download, utilize, and file your income tax return with the utility, assuring correct and timely compliance for companies and professionals.

For FY 2024–2025, this blog offers a comprehensive guidance on TDS on salaries under Section 192. Discover how to compute TDS under the previous and current tax systems, as well as the most recent regulations and employer obligations.

With effect from October 1, 2024, the updated TDS rates for FY 2024–25 and AY 2025–26 have been released. This blog discusses the effects on people and businesses and offers a comprehensive graphic of the updated TDS rates. To guarantee compliance with tax laws and to capitalize on the advantages provided by the new rates, it is imperative that individuals and corporations comprehend the revised TDS rates and their ramifications.

The blog discusses the changes in income tax slab rates for FY 2024-25 and AY 2025-26, including the increase in the basic exemption limit, revision of slab rates, and increase in the standard deduction. The implications of these changes, including tax savings, simplified tax structure, and increased disposable income, are also discussed.

The new scrutiny guidelines for ITRs (FY 2024-25) provide transparency in the tax department's functioning and bring in a data-driven approach for identifying cases for scrutiny assessment. This blog post demystifies the new scrutiny guidelines for ITRs (FY 2024-25) and provides a comprehensive guide for taxpayers to ensure that they are compliant with the tax laws and avoid any potential scrutiny.

This resource provides an overview of the TDS rates applicable for the financial year 2023-24 and 2024-25 in India.

Explore the potential shifts in GST rates slated for the fiscal year 2024-25 and the implications for businesses and consumers alike

This article provides comprehensive insights into the recent amendments to income tax regulations for the fiscal year 2024-25. It covers changes in slab rates, rebate limits, surcharge rates, and other important aspects that taxpayers need to be aware of for effective tax planning.