It’s July 14, 2025, and while the Income Tax Department has released the Excel utilities for ITR-2 and ITR-3, you still can’t file these forms online for Assessment Year (AY) 2025-26. The online filing option isn’t available on the e-filing portal just yet. When Can You File ITR-2 and ITR-3 Online? If you’re waiting to … Read more
Is More Money Leading to Less Discipline CoinSwitch Co-founder Ashish Singhal is sparking a vital conversation about India’s new tax regime. While the shift promises simplicity and higher liquidity for salaried individuals and startup employees, Singhal questions whether this newfound financial freedom is truly fostering better habits or just delaying the inevitable tax scramble each … Read more
As Bitcoin continues its remarkable ascent, with its value surpassing ₹1 crore per coin, Indian investors are not only celebrating their gains but also confronting India’s stringent Virtual Digital Asset (VDA) tax framework. This tightly regulated asset class demands meticulous compliance to avoid hefty penalties. Understanding the Tax Burden: Since 2022, profits from the sale … Read more
Filed the Wrong ITR Form? Here’s How to Fix It for AY 2025-26 The Income Tax Department has now enabled e-filing for ITR-2 and ITR-3 forms, completing the availability of all major ITR forms (1-4) for the Financial Year 2024-25 (Assessment Year 2025-26). Taxpayers also have more time to file their returns, as the deadline … Read more
Maximize Your Tax Savings: Claiming Both HRA and Home Loan Benefits is Possible! Many salaried individuals in India often wonder if they can claim both House Rent Allowance (HRA) exemption and home loan tax benefits simultaneously. The good news is, you absolutely can! It’s perfectly legal and can lead to substantial tax savings, often ₹1 … Read more
Senior Citizens: Unlock a ₹50,000 Tax Break on Medical Expenses – No Health Insurance Needed Are skyrocketing healthcare costs a concern for you or your elderly parents? Even without health insurance, senior citizens can claim a significant tax deduction! Many seniors struggle with the high cost of health insurance, but Indian tax laws offer a … Read more
The Income Tax Department has rolled out significant updates to ITR forms for the Financial Year 2024-25 (Assessment Year 2025-26), aiming to simplify tax filing for many.1 These changes, particularly to ITR-1, ITR-2, and ITR-4, broaden eligibility for some and streamline reporting for others.2 ITR-1 (Sahaj) Gets a Simpler Path for Capital Gains Previously, any … Read more
The Indian government has extended a crucial tax exemption for Sovereign Wealth Funds (SWFs) and Pension Funds for another five years, now valid until March 31, 2030. This move, formalized by the Department of Revenue, aims to attract significant long-term foreign capital into India’s rapidly expanding infrastructure and other vital sectors like telecom, energy, and … Read more
India’s Tax Picture: Gross Collections Up, But Refunds Cause Net Dip in FY26 India’s direct tax collections are showing a mixed trend in the current financial year (FY26) so far. While gross direct tax collections have risen by 3.17% to ₹6.64 lakh crore as of July 10, the net collections have slipped by 1.34% to … Read more
Tax Refund Delays Plague Filers as ITR Season Gains Momentum; Here’s How to Get Your Money Back Sirohi, Rajasthan – The Income Tax Return (ITR) filing season for Assessment Year (AY) 2025-26 is in full swing, but a common grievance echoing across social media and tax help forums is the frustrating delay in receiving tax … Read more
