FINANCE

1️⃣ Big Update: - Your PAN will become INOPERATIVE from 1 Jan 2026 if not linked with Aadhaar by 31 Dec 2025. No linking = No smooth financial life. 2️⃣ Why is Govt doing this?: - ✔️ Improve tax compliance ✔️ Remove duplicate PANs ✔️ Curb misuse of identity 3️⃣ Who MUST link PAN with Aadhaar?: - 🔹 Anyone whose PAN was allotted using Aadhaar Enrolment ID before 1 Oct 2024 🔹 Even if Aadhaar number came later — linking is mandatory 4️⃣ Miss the deadline? Here’s what happens 😨: - ❌ ITR cannot be filed or verified ❌ Income tax refunds will stop ❌ TDS/TCS may not reflect in Form 26AS ❌ Higher TDS rate applicable ❌ New bank accounts & investments may be blocked 5️⃣ What about existing bank accounts?: - ✔️ Existing accounts will continue 🚫 But new financial transactions needing PAN-KYC may be restricted 6️⃣ PAN becomes inoperative = Financial choke: - From mutual funds to stock trading, from loans to investments — everything slows down. 7️⃣ How to link PAN with Aadhaar? (100% Online): ...

A taxpayer who had always filed correctly faced an unexpected situation this year. 📌 His actual, eligible refund was around ₹30,000. 📌 On a friend’s suggestion, the return was filed showing a ₹1,20,000 refund using ineligible claims. Soon after, an SMS and email arrived from the Income Tax Department. Not a penalty. Not scrutiny. Just a system alert. 🔍 What happened next The return was reviewed calmly Ineligible claims were removed A revised return was filed within time 👉 Outcome: The taxpayer received only the refund he was genuinely eligible for — safely and legally. 📩 A reality many taxpayers should understand Today, even genuine taxpayers may receive Income Tax messages. This does not imply wrongdoing. It reflects: Automated risk analytics Early error detection Opportunity for voluntary correction ✅ Why this system actually helps taxpayers ✔ Stops inflated or fake refund claims ✔ Protects honest filers from future penalties ✔ Improves fairness in the tax system ✔ Encourages ac...

Thousands of taxpayers are suddenly receiving this message 👇 👉 “Your ITR refund is on hold due to risk management discrepancies. File revised return within a week.” 💡 Irony? ⏳ Income Tax Dept took 4+ months to identify the issue ⏰ And now gives taxpayers barely a few days to fix it ❓ Why no detailed email received? Because most of these are system-generated risk flags. Sometimes:  • Email goes to old registered ID • Lands in spam • Or only SMS/portal alert is triggered 👉 Always check the ITR portal → e-Proceedings / Worklist 📌 What does “ITR processing on hold” mean? It does NOT mean notice or scrutiny ❌ It means:  🔹 Refund claim looks unusual compared to data available with department 🔹 Return is paused before issuing refund 🔹 Taxpayer is given a chance to self-correct ⚠️ Common reasons refunds get flagged : 🔹 TDS/TCS mismatch TDS claimed in ITR is higher than what appears in Form 26AS (employer/bank hasn’t deposited or corrected data yet) 🔹 AIS vs ITR income mismat...

𝐈𝐧𝐝𝐢𝐚’𝐬 𝐥𝐚𝐛𝐨𝐮𝐫 𝐫𝐞𝐟𝐨𝐫𝐦𝐬 𝐣𝐮𝐬𝐭 𝐭𝐨𝐨𝐤 𝐚 𝐠𝐢𝐚𝐧𝐭 𝐥𝐞𝐚𝐩 𝐟𝐨𝐫𝐰𝐚𝐫𝐝! 💼⚙️ The new Labour Codes bring in a lot of changes for the better. And here’s what changes for YOU 👇 🔹 Universal Minimum Wages: A fair wage floor for all employees, across sectors. 🔹 Statutory Floor Wage: A national baseline to prevent exploitation and ensure consistency across states. 🔹 Uniform Definition of Wages: No more confusion — clarity in salaries, allowances, and benefits. 🔹 Gender Equality: Stronger safeguards for equal pay and equal opportunity. 🔹 Universal Wage Payment Coverage: Mandatory digital payments for better transparency and timely salaries. 🔹 Work-from-Home Provision: Recognised formally for certain sectors — enabling flexibility and remote work! 🔹 Higher Threshold for Layoffs: Protection for workers, especially in mid-sized units. 🔹 Overtime Compensation: At least 2X the regular rate — no exceptions. 🔹 Gig & Platform Workers Get Social Security: A hist...

నష్టాలను బూచిగా చూపిస్తూ దేశంలో ప్రభుత్వ రంగం విశాఖపట్నం సముద్ర తీర ప్రాంతంలో ప్రతిష్టాత్మకంగా నిర్మించుకున్న భారీ ఇంటిగ్రేటెడ్ స్టీల్ ప్రొడక్షన్ యూనిట్  "విశాఖపట్నం స్టీల్ ప్లాంట్" ను ప్రైవేటు పరం  చెయ్యెద్దు. ప్రతి కర్మాగారంలో ఎదురయ్యే సమస్యలనే ఇక్కడ మాత్రం భూతద్దంలో చూపిస్తూ,ప్లాంట్ సమస్యలకు పరిష్కార మార్గాలున్నా వాటిని పట్టించుకోకుండా  పబ్లిక్ సెక్టర్ ఎంటర్ప్రైజెస్ లకు నష్టం వస్తే చాలు దాన్ని ప్రైవేటు పరం చేసేస్తే అన్నీ సరైపోతాయనే ఆలోచనా ధోరణి తీవ్ర తప్పిదంగా పరిగణించాలి.విశాఖ ఉక్కును గాడిలో పెట్టడం ముమ్మాటికీ సాధ్యమే.👇 మన దేశంలో :    ➡️ గత దశాబ్ద కాలంలో ప్రభుత్వ రంగంలోని పబ్లిక్ సెక్టర్ బ్యాంకులు   రూ 5.07 లక్షల కోట్ల రూపాయల ఋణ బకాయిలను మాఫీ (రైటాఫ్) చేశాయి   ➡️ గత దశాబ్ద కాలంలో ప్రభుత్వ రంగం లోని పబ్లిక్ సెక్టర్ ఎంటర్ప్రైజెస్ నమోదు చేసిన మొత్తం నష్టం విలువ రూ 2.9 లక్షల కోట్లు.. దేశంలో ప్రస్తుతం ఆపరేషన్ లో ఉన్న మొత్తం 272 సెంట్రల్ పబ్లిక్ సెక్టర్ ఎంటర్ప్రైజెస్ లలో నష్టాలు వస్తున్నది 58 సెంట్రల్ పబ్లిక్ సెక్టర్ ఎంటర్ప్రైజెస్ లలో మ...

The Income Tax (I-T) Department is facing a significant backlog of over 9.7 million verified income tax returns (ITRs) for the Assessment Year (AY) 2025-26, according to the latest official figures. As of Sunday, November 2, 2025, while the department has successfully processed a substantial 6.72 crore (67.2 million) ITRs, a staggering 97,07,702 verified returns remain in the queue, causing anxiety among taxpayers, especially those expecting refunds. The data, sourced directly from the Income Tax Department’s official portal and reflected in a screenshot from November 2, reveals the scale of the task. The department has received 8,01,81,924 filed returns, of which 7,69,31,814 have been verified by taxpayers. The gap between verified and processed returns constitutes the current backlog. (Screenshot of the Income Tax Department portal showing ITR statistics as on November 2, 2025) This delay is particularly troubling for individuals who filed their returns around the July 31...

పాపం ఆ పేద వైద్య విద్యార్థిని మెడికల్ కాలేజీలో జేరడానికి అక్షరాలా ఒక కోటీ పదమూడు లక్షల డబ్బై వేల ఐదు వందల రూపాయలు అవసరం అయ్యింది... దానికి మావోయిస్టు స్పెషల్ ఏరియా కమిటీ సభ్యుడు...ఎంతో వ్యయ ప్రయాసలు పడి సమకూర్చాడు... అంతేనా...ఇలాగే మరెంతో మంది...పట్టణ మధ్యతరగతి మరియు పేద వర్గాల సేవల కోసం బోల్డంత డబ్బు అవసరం అవుతూ ఉంటుంది... ఈ అవసరాలు తీర్చడానికి...మూల వాసీ బచావో మంచ్... మావోకు బోల్డన్ని మారు పేర్లు లెండి...ఆ పేర్లతో బ్యాంకుల్లో శ్రమలకోర్చి జమలు చెయ్యాలి... పెట్టుబడి దారి దేశాలు ఎలా డబ్బు సంపాదిస్తాయి తెలుసుకోవడానికి...అమెరికా లాంటి దేశాలకు వెళ్ళి పేద ప్రజలు స్థిర పడాల్సి ఉంది... అలాగే అసలు ఈ క్యాపటలిస్టులు డొల్ల కంపెనీలు నిర్వహించి ఎలా డబ్బు కొట్టేస్తారో కూడా అధ్యయనం చెయ్యాల్సి ఉంది... పెద్ద మొత్తం నగదును...బంగారంగా మార్చి...నల్ల ధనాన్ని ఎలా సమకూరుస్తారు కూడా గట్టిగా తెలుసుకోవాలి... ఈ రాజ్యం సృష్టించిన దుర్మార్గమైన ఈడి... సిబిఐ వంటి సంస్థలకు వాళ్ళ స్థానం ఏంటో చూపించాల్సిన సమయం వచ్చింది... వీటన్నిటినీ సాధించాలంటే...ఈ దుర్మార్గ...అర్థ భూస్వామ్య...పావు ప్రజాస్వామ్య ...మనువాద ప్రజలున్న ప్...

🚨 EPFO rules quietly changed; and not in your favor. Here’s what they didn’t tell you 👇 1️⃣ If you lose your job today, you can’t withdraw your PF for 12 months. 2️⃣ Your pension (EPS) can only be claimed after 36 months (3 years) of unemployment. 3️⃣ Meanwhile, the government keeps using your money; earning interest on it while you struggle to pay rent. 4️⃣ EPFO holds ₹22+ lakh crore of public money; more than any Indian bank’s deposit base. 5️⃣ Salaried class gets no representation, no transparency, no immediate access to their own savings. 6️⃣ They call it “social security,” but it’s really government liquidity insurance. 7️⃣ Try withdrawing; you’ll face server errors, form rejections, and months of silence. 8️⃣ But the government can borrow your PF funds to manage its fiscal deficit anytime; without your consent. 9️⃣ And when inflation eats your savings, EPFO’s interest rate (8.25%) doesn’t even match real-world price rise. 🔟 You worked, you earned, you saved; now you’re being t...

CBDT has raised the limits for tax-free perquisites perks: ✅Office perks → up to ₹4L ✅Overseas medical → up to ₹8L Here’s what it means for all the employees👇🧵 [1] What Counts as "Perquisites"? 🔸Perquisites = non-cash benefits from employers. 🔸Like company cars, utilities, education, domestic staff, etc. ⚠️Taxable only for specified employees (as per Sec 17(2)(iii) ITA + Rule 3) 👉 Normally taxed as part of salary [2] Who are Specified Employees? Perquisite taxation mainly applies to “specified employees”: ➡️Directors of the company ➡️Employees holding >20% equity in employer company ➡️Employees with salary income >₹50,000 (now revised upwards) [3] Office Perks Tax-Free Up to ₹4L 🔹Earlier: limit was just ₹50K 🔸Now: raised to ₹4 lakhs Tax-free perks include: ✅Company cab / transport ✅Utilities (gas, water, electricity) ✅Education benefits ✅Domestic staff provided by employer ✅Others [4] Overseas Medical Tax-Free Up to ₹8L 🔹Earlier: exemption capped at ₹2 lakhs 🔸N...

Two important changes affect perquisites under Section 17(2) of the IT Act: 🔹 Rule 3C – Salary Threshold for Perqs ✅ Earlier: Relief applied only if salary ≤ ₹50,000 p.a. (an archaic limit, almost no one benefited). ✅ Now: Raised to ₹4,00,000 p.a. ✅ Employees with salary ≤ ₹4L can enjoy exemption on perquisites like: • Rent-free or concessional accommodation • Motor car facility • Domestic help (sweeper, watchman, gardener, attendant) • Gas, electricity, water supplied by employer • Educational & medical facilities • Free meals, concessional travel, gifts & vouchers, credit card bills etc. 🔹 Rule 3D – Gross Total Income Ceiling ✅ Applies to proviso (vi) of Section 17(2). ✅ Now, exemption on specified securities / sweat equity shares allotted free or at concessional rate will be available only if GTI ≤ ₹8,00,000. Note: Earlier, relief was meaningless due to the ₹50k cap. Now, exemptions are real for junior staff, entry-level employees & middle-income taxpayers.

1.Promotion and Recognition of e-sports e-sports are recognised as a legitimate form of competitive sport in India. Ministry of Sports will frame guidelines and standards for conducting e-sports events. Steps will be taken for the establishment of training academies, research centres, and technology platforms for e-sports advancement. Awareness campaigns and policies will promote the integration of e-sports into broader sports  initiatives. 2.Promotion of Social and Educational Games The central government is empowered to recognise, categorise, and register online social games. Platforms for safe, age-appropriate social and educational games will be facilitated. Campaigns to promote the positive role of social games in recreation, skill development, and digital literacy. Support for gaming content aligned with Indian cultural and educational values. 3.Prohibition of Harmful Online Money Games Strict measures against operating or promoting online money gaming (betting, gambling), re...

ఇన్‌కమ్ టాక్స్ (నం 2) బిల్లు, 1961లో రూపొందించిన ఇన్‌కమ్ టాక్స్ చట్టాన్ని భద్రపరచాలని లక్ష్యంగా, ఇటీవల లోక్ సభలో ఘన విజయంతో పాస్ అయ్యింది. ఈ కొత్త బిల్లు టాక్స్ చట్టాలను సరళతరం చేయడాన్ని లక్ష్యంగా ఉంచి రూపొందించబడింది, మరియు ఆర్థిక మంత్రి నిర్మలా సీతారామన్ ఈ బిల్లు ప్రవేశపెట్టినప్పుడు దాని మార్గదర్శక సూత్రాల కోసం "S.I.M.P.L.E" అనే సంక్షిప్త ర్యాక్నం ఉపయోగించారు. ఈ సూత్రాలు చట్టం యొక్క నిర్మాణాన్ని సరళతరం చేయడం, దానిని సమగ్రంగా మరియు సంక్షిప్తంగా చేయడం, వాదనల్ని తగ్గించడం, నిజాయితీ మరియు పారదర్శకత ఉండడం, నేర్చుకోవడం మరియు అనుకూలంగా ఉండడం మరియు సమర్ధమైన టాక్స్ సంస్కరణలను ఆమోదించడం అన్నీ కలిగి ఉంటాయి. ఈ బిల్లు టాక్స payerల కోసం వివరణలను అందించడం, ముఖ్యంగా వ్యక్తిగతులు మరియు MSMEsకి, మరియు అనవసరమైన వాదనల నుంచి తప్పించడానికి రూపొందించబడింది. 1961 యొక్క ఇన్‌కమ్ టాక్స్ చట్టం 4,000కు పైగా సవరణలు మరియు అయిదు లక్షల పదాలతో పెరిగింది, దీని కారణంగా అది అనవసరంగా సంక్లిష్టంగా మారింది. కొత్త బిల్లు ఈ సంక్లిష్టతను సుమారు 50 శాతానికి తగ్గిస్తుంది. కొత్త టాక్స్ బిల్లులో ముఖ్యమైన లక్షణాలు: సరళమై...

India’s biggest tax law overhaul in decades is getting a rewrite and the changes could save you money, simplify compliance, and protect your assets.  Here’s what’s new in the Revised Income Tax Bill 2025 🧵 The government has withdrawn the original Income Tax Bill, 2025 and will present a revised version in Parliament on August 11, after incorporating key suggestions from the Select Committee chaired by MP Baijayant Jay Panda. The Select Committee submitted its report on July 21, with 285 recommendations to simplify, clarify, and align the bill with existing tax provisions. Companies get relief too: the revised bill will include Section 80M deduction for inter-corporate dividends under Section 115BAA, which was missing in the earlier draft. The bill will also allow taxpayers to obtain a NIL TDS certificate, offering flexibility in cash flow management. To protect property owners, Clause 21 will be amended to prevent unintended higher taxation on vacant residential prop...

Default Regime is New Regime for ITR Filing Form 10IEA Filing Requirements  ITR 1 - No Requirements to File Form 10IEA to Opt for old regime or re-entering to New Regime (No Switching Restrictions) ITR 2 - No Requirements to File Form 10IEA to Opt for old regime or re-entering to New Regime (No Switching Restrictions) ITR 3 - Form 10IEA Filing mandatory when opting for old regime and if opting again for New Regime in subsequent Year  (if opted old regime for one year and then opted for new regime in subsequent year then not eligible to opt old regime again means one time Switching option is there (Need to file Form 10IEA maximum 2 times only, First when you opt for old regime and Second when you opt for new regime in subsequent year and leaving old regime) (If Form 10IEA already filed for old regime for particular year then cant opt new regime in such year and vice-versa) ITR 4 - Form 10IEA Filing mandatory when opting for old regime and if opting again for New Reg...

👤 Client: “Sir, I’ve suffered a loss while playing online rummy. But the platform still deducted TDS on my withdrawal. How can I show this loss in my Income Tax Return under casual income?” 🃏Rummy winnings are taxed under Section 115BB as ‘Income from Other Sources’ — specifically under Casual Income (e.g. lotteries, betting, card games). 💡 Key Points: Tax is @ 30% flat + cess, regardless of profit/loss overall. TDS is deducted on withdrawals (as per Sec 194B or 194BA). Losses from rummy (or similar games) cannot be claimed, carried forward, or set off. ❌ No deduction for losses allowed under Section 58(4). 📥 In ITR, You Should 1.✅ Report gross winnings (if any) under: → Schedule OS → Casual Income 2.✅ Report the TDS deducted under: → Schedule TDS (Form 26AS/AIS) 3.❌ Do not claim or show any loss from rummy in ITR.

Default Regime is New Regime for ITR Filing Form 10IEA Filing Requirements  ITR 1 - No Requirements to File Form 10IEA to Opt for old regime or re-entering to New Regime (No Switching Restrictions) ITR 2 - No Requirements to File Form 10IEA to Opt for old regime or re-entering to New Regime (No Switching Restrictions) ITR 3 - Form 10IEA Filing mandatory when opting for old regime and if opting again for New Regime in subsequent Year  (if opted old regime for one year and then opted for new regime in subsequent year then not eligible to opt old regime again means one time Switching option is there (Need to file Form 10IEA maximum 2 times only, First when you opt for old regime and Second when you opt for new regime in subsequent year and leaving old regime) (If Form 10IEA already filed for old regime for particular year then cant opt new regime in such year and vice-versa) ITR 4 - Form 10IEA Filing mandatory when opting for old regime and if opting again for New Regime in subse...

Finally the ITR Filing Season Started from Today as all the ITR Forms for Individuals Released by Income Tax Department Income From Salary : Taxable as per Slab Rates (75,000 Standard Deduction in New Tax Regime) Income From House Property: 30% Standard Deduction then Taxable at Slab Rates Income From Business and Profession: Taxable at Slab Rates  Income From Capital Gain: Short Term Capital Gain before 23rd July 2024 taxable at 15% Short Term Capital Gain on or after 23rd July 2024 taxable at 20% Long Term Capital Gain before 23rd July 2024 taxable at 10%  Long Term Capital Gain on or after 23rd July 2024 taxable at 12.5% (Exempt upto 1,25,000) Income From Other Source: Taxable at Slab Rates Income from winning or online gaming or VDA: Taxable at special rates Slab Rates under New Tax Regime: Income Slab : Tax Rate Up to ₹ 3,00,000 : Nil ₹ 3,00,001 - ₹ 7,00,000 : 5% ₹ 7,00,001 - ₹ 10,00,000 : 10% ₹ 10,00,001 - ₹ 12,00,000 : 15% ₹ 12,00,001 - ₹ 15,00,000 : 20% Above ₹ 15,00,0...

  . Documents from Indian Directors and Shareholders PAN Card (mandatory for Indian nationals) Aadhaar Card Passport-size Photograph Identity Proof (any one of: Voter ID, Passport, Driving License) Address Proof (any one of: Bank Statement, Utility Bill, Mobile Bill — not older than 2 months) Email ID and Mobile Number 2. Documents from Foreign Nationals / NRIs Passport (mandatory) Address Proof (e.g., utility bill, bank statement) Passport-size Photograph All documents must be notarized or attested by the Indian Embassy , depending on the country of residence. 3. Proof of Registered Office Address Utility Bill (Electricity, Gas, or Telephone — not older than 2 months) Rent Agreement (if rented) NOC from Property Owner Sale Deed or Property Deed (if owneD)

New reporting requirements for #incometaxreturn ITR -1 and ITR-4 under the old tax regime for A.Y. 2025–26: HRA Exemption (Section 10(13A)): Place of employment HRA amount received Actual rent paid Basic salary + Dearness Allowance 50% (metro cities) or 40% (non-metro cities) of basic salary Section 80D (Medical/Health Insurance): Insurance company name Policy/Document Number Section 80E (Education Loan Interest): Lender’s name Bank name Loan account number Loan sanction date Total loan amount Outstanding balance as of March 31 Section 80EE/80EEA (Home Loan Interest): Lender’s name Bank name Loan account number Loan sanction date Total loan amount Outstanding balance as of March 31 Section 80EEB (Electric Vehicle Loan Interest): Lender’s name Bank name Loan account number Loan sanction date Total loan amount Outstanding balance as of March 31 Section 80DDB (Medical Treatment of Specified Diseases): Name of the specified disease Increased disclosures & documentation 🤯🤯

Dear Taxpayers,  The Revised ITR Forms 1-7 have been enabled on the Income Tax portal. However, the department has not yet enabled the ITR e-filing utilities.  TDS details and Form 26AS have not been updated yet, and employers have not provided Form 16.  Consequently, the actual filing process will commence from late May to early June.  In the meantime, we encourage you to collate the necessary documents and information required for the filing process: 1. Salary Income:    - Form 16 (Part A & B) from your employer(s).    - Salary Slips 2. Interest Certificates:    - For Savings/Fixed Deposits/Recurring Deposits, etc. 3. Capital Gains:    - Profit & Loss (P&L) Statement from Broker    - Details of the sale of other Capital Assets (property, gold, etc.)    - Make sure there is separate LTCG reporting before and after July 23, 2024, due to new rules on indexation and tax rates. 4. House Property Inc...

Read if you have time . 19 years ago,  an 18-year-old boy walked out to bat for Delhi just hours after losing his father. Today, that boy retires from Test cricket as one of the greatest of all time. It was December 2006. Virat Kohli had just lost his father, Prem Kohli — his first coach, biggest supporter, and lifelong inspiration. While his family grieved,  Delhi was looking at a follow on against Karnataka in a crucial Ranji Trophy match. Virat was not out with an overnight score of 40 .  At dawn, while most would be home preparing for a funeral, Virat padded up and walked out to bat. Under pressure.  In pain.  With the weight of grief on his shoulders, he played a masterclass — an unbeaten 90 off 238 balls, helping Delhi save the match. And from a position wherein Delhi was 14/4 with Shikhar Dhawan just getting out .  After stumps, he returned home , just in time for his father’s cremation. That day, Indian cricket didn’t just witness talent. It witness...

Starting a private limited company is an exciting step for any entrepreneur. However, along with registration, it's essential to comply with legal commitments, one of which is the private limited ROC filing. This write-up will help us to know the important forms of Newly Registered Pvt Ltd Companies. 🟧 What is ROC Filing? ROC filing refers to submitting various documents and returns to the MCA through the Registrar of Companies. This includes financial statements, annual returns, and other key company data. 🔘 Important ROC Filings for Newly Registered Pvt Ltd Companies Newly formed private limited companies are required to complete the following ROC filings 👇 1. Form INC-20A: This is the declaration of commencement of business to be filed within 180 days of incorporation. It confirms that the company has received the subscription money from its shareholders. 2. Form AOC-4 : Filed annually to report the company's financial statements, including balance sheet, Profit and Loss,...

🔹 ITR-1 now allows LTCG under Sec 112A (up to ₹1.25 lakh) 🔹 Expanded eligibility for small businesses & professionals 🔹 Mandatory Form 10-IEA for old regime Here’s a breakdown of what’s changed🧵👇 Who can file ITR-1 (Sahaj) for AY 2025–26? ✅ Resident individuals (not ordinarily resident) ✅ Total income up to ₹50 lakh ✅ Income from salary, one house property, other sources (interest, etc.) ✅ Agricultural income up to ₹5,000 ✅ LTCG under Section 112A up to ₹1.25 lakh (from listed shares/mutual funds).  ❌However, if you have capital gains from selling of house property or short term capital gains from listed equity and equity mutual funds, then you cannot use ITR-1 to file the tax returns. ❌ Not eligible if you have losses to carry forward. Who can file ITR-4 (Sugam) for AY 2025–26? ✅ Resident Individuals, HUFs & Firms (other than LLPs) ✅ Total income up to ₹50 lakh ✅ Income from business/profession under Sections 44AD, 44ADA, or 44AE ✅ LTCG under Section 112A up to ₹1.25 ...

For filing your Income Tax Return (ITR) for the financial year 2024-25 , ensuring you have the right documents is crucial for a seamless process. Here’s a detailed breakdown  of what you’ll need: --- 1. Basic Identification & Tax Documents These documents establish your identity and tax compliance: - PAN Card – Essential for tax filing and financial transactions. - Aadhaar Card – Required for verification and linking with PAN. - Form 16  – Issued by your employer, summarizing salary details and **Tax Deducted at Source (TDS)**. - Bank Account Details  – All active accounts must be reported, except dormant ones. At least one account should be selected for tax refunds. --- 2. Income-Related Documents Your income sources determine your tax liability: - Salary Slips – Helps in calculating taxable income and deductions. - Rental Income Details  – If applicable, including tenant details, municipal tax receipts, and interest certificates for home loans. - Capital Gains ...

・Gold hit ₹1 lakh/10 gms today. It almost doubled in less than 3 years as the gold price jumped 100% to Rs 1 lakh. Why is this happening? What are the factors fueling this trend? The main reason is the ratcheting up of geopolitical tensions, which have strengthened the safe-haven demand for gold across the world. The freezing of Russian central bank assets in 2022 following the Russia-Ukraine war triggered a wave of gold buying by central banks as countries rushed to shore up their strategic buffers.  The current upheaval around US President Donald Trump’s ‘on-again, off-again’ tariffs has further burnished gold’s age-old reputation as a protective asset during uncertain times.  The weakening of the US dollar index has also propelled rates, as gold is priced in USD globally. Trend in Indian Markets? Is it the right time to invest in the gold? ・What has been the trend in the Indian market? India is the world’s second-largest consumer of gold.  After two months ...

To all party supporters, citizens, and well-wishers of our beloved Andhra Pradesh – this is a humble request: Let us all rise above the provocations of religious extremists. Their only agenda is to divide us by religion, not to improve our lives, our standards of living, or the development of our state. I urge you – do not react to their instigating statements. Silence in the face of hate is sometimes the loudest voice of wisdom. We don’t need to prove our faith or the depth of our beliefs to anyone. We love our religion, and we equally respect others' right to love theirs. The most dangerous thing about these provocations is how they start – a post here, a comment there – and before we know it, they can spiral into massive, painful riots. Let us never allow that to happen in Andhra Pradesh. We can't afford a Jabalpur or Gujarat-like tragedy. Not here. Not ever. We are responsible citizens. Educated, kind-hearted, and united by a desire for peace and progress. Let us show that ...

1. New Income Tax Slabs (New Regime) 2. Changes in ULIP Taxation Proceeds from ULIPs not exempt under Section 10(10D) will now be treated as capital assets and taxed as: 3. TDS Rationalization 4. Removal of Higher TDS/TCS for Non-Filers - Sections 206AB & 206CCA (higher TDS/TCS on non-filers) were removed to ease compliance. 5. NPS Vatsalya Contributions - Section 80CCD Deduction - Deductions allowed under Section 80CCD for NPS Vatsalya contributions, but only under the old tax regime. 6. Tax-Free Perquisites for Medical Treatment Abroad - Employers' expenditure on foreign medical treatment for employees and family members is tax-free. 7. Simplified Annual Value Calculation for Self-Occupied Properties - Taxpayers can claim "zero annual value" for up to two self-occupied properties for ease in ITR filing. 8. Exemption from Prosecution for TCS Delay - Prosecution not applicable if TCS payment is made before the quarterly filing deadl...

In India, the New Tax Regime, introduced under Section 115BAC of the Income Tax Act, offers a simplified tax structure with lower tax rates but fewer deductions and exemptions compared to the Old Tax Regime. As of FY 2024-25 (AY 2025-26), applicable on March 19, 2025, the New Tax Regime is the default option, though taxpayers can opt for the Old Regime if it suits their financial situation better. Below are the key deductions available under the New Tax Regime: Deductions Allowed in the New Tax Regime Standard Deduction for Salaried Individuals and Pensioners Amount: ₹75,000 (increased from ₹50,000 in Budget 2024). Eligibility : Available to salaried employees and pensioners whose pension is taxed as salary income. Impact : This deduction reduces taxable income, effectively making income up to ₹7.75 lakh tax-free when combined with the ₹7 lakh rebate under Section 87A. Deduction for Family Pension Amount : ₹25,000 or one-third of the pension, whichever is lower (increased from ₹15,000 ...

Here’s a tailored March End Income Tax Checklist, highlighting key points to remember as of March 18, 2025, for the Financial Year (FY) 2024-25 (ending March 31, 2025). This is based on general practices under the Income Tax Act, 1961, and assumes the old tax regime unless specified, as it offers more deductions. Start early to avoid penalties or missed opportunities! 1) Furnishing of an updated return of income for the Assessment Year 2022-23: In Income tax, 31st March 2025 is the last date to file the updated return, if the taxpayer has made errors or omissions in their original or revised return for FY 21-22. 2) Investment for Deduction: If deduction u/s 80 ( for eg. 80C, 80G) is to be claimed in Income tax for FY 2024-25, then every taxpayer should verify the limits of Income tax and their tax liability and should invest, donate, etc. before 31st March 2025. 3) TDS on Salary: Salaried Employees should give the details of Investments and deductions tothe Employer to avoid excess TDS...

Income Tax Rates for Individuals (under 60 years) for AY 2025-26 Old Tax Regime Up to ₹2,50,000: No tax (Nil). ₹2,50,001 to ₹5,00,000: 5% tax on income above ₹2,50,000. ₹5,00,001 to ₹10,00,000: ₹12,500 + 20% tax on income above ₹5,00,000. Above ₹10,00,000: ₹1,12,500 + 30% tax on income above ₹10,00,000. New Tax Regime (Section 115BAC) Up to ₹3,00,000: No tax (Nil). ₹3,00,001 to ₹7,00,000: 5% tax on income above ₹3,00,000. ₹7,00,001 to ₹10,00,000: ₹20,000 + 10% tax on income above ₹7,00,000. ₹10,00,001 to ₹12,00,000: ₹50,000 + 15% tax on income above ₹10,00,000. ₹12,00,001 to ₹15,00,000: ₹80,000 + 20% tax on income above ₹12,00,000. Above ₹15,00,000: ₹1,40,000 + 30% tax on income above ₹15,00,000. Key Notes: Taxpayers opting for the New Tax Regime cannot claim certain exemptions and deductions available under the Old Tax Regime, such as HRA, 80C, 80D, 80TTB, etc. A Health & Education Cess of 4% is applicable on the income tax amount plus any surcharge in both regimes. Surcharge (app...