ITR Filing 2025 Deadline: Only 15 Days Left; Why You Shouldn’t Wait Anymore To File It The Income Tax Department extended the ITR filing deadline for non-audited taxpayers to September 15, 2025. Those with audited accounts have until October 31, 2025. Deadline is Approaching Fast! If you’re an individual taxpayer who doesn’t require an audit, … Read more
Financial advisor Akshat Shrivastava has sparked a debate about the cost of living in India, particularly for the affluent. He challenges the common belief that India is an inexpensive country, arguing that high taxes and the desire for a “global standard lifestyle” make it surprisingly costly. The Real Cost of Luxury Shrivastava illustrates his point … Read more
Tax season for Assessment Year 2025-26 is in full swing, and if you’re a senior citizen, it’s crucial to know about the income tax benefits available to you. One of the most significant provisions is Section 80TTB, which offers a substantial deduction on your interest income. What is Section 80TTB? Introduced in 2018, Section 80TTB … Read more
Navigating your first time filing an income tax return (ITR) can feel overwhelming, but the Income Tax Department has made the process simpler with a detailed guide. Before you can file, you need to register on the e-filing portal. The department shared a step-by-step video on X to walk you through it. How to Register … Read more
Starting September 2025, several financial rules are set to change, impacting individuals and businesses across India. Here is a simplified summary of the key updates you should be aware of: 1. ITR Filing Deadline Extended The deadline for filing income tax returns (ITR) for the financial year (FY) 2024-25 has been extended. The new due … Read more
Switching from the new tax regime to the old one for the Assessment Year (AY) 2025-26 is a common question, and the process depends entirely on what kind of income you have. The default tax regime is the new one, so you must actively choose to switch if you want to file under the old … Read more
It appears you want me to rewrite the provided text about delayed income tax refunds. The original text is a mix of a news report and advice. I’ll restructure it to be a clear, helpful guide for a taxpayer experiencing this issue. Income Tax Refund Delayed? Here’s Why and What to Do Are you one … Read more
Navigating income tax can be complex, especially when you have assets outside India. If you are a Resident and Ordinarily Resident (ROR) taxpayer, you are required to disclose your foreign assets and income in your Income Tax Return (ITR) for Assessment Year (AY) 2025-26. This is done through Schedule FA of the ITR. Who Needs … Read more
A Guide to Income Tax Deadlines in September 2025 September 2025 is a critical month for taxpayers in India, with numerous income tax compliance deadlines. To avoid penalties and late fees, it is essential to be aware of the key dates for advance tax, TDS/TCS, ITR filing, and audit reports. Here is a summary of … Read more
A groundbreaking ruling from the Income Tax Appellate Tribunal (ITAT) in Ahmedabad has delivered a potential victory for taxpayers, clarifying that the Section 87A rebate can be claimed on short-term capital gains (STCG) for the financial year 2024-25. This decision directly challenges the tax department’s system, which had been automatically denying these rebates. Here’s a … Read more
