ITR Filing Alert: The Deadline is September 15, 2025! The income tax return (ITR) filing season is in full swing, and if you’re a first-time filer in India, this is especially for you. The deadline to file your ITR for the financial year 2024–25 (Assessment Year 2025–26) has been extended to September 15, 2025. Don’t … Read more
Income Tax Filing 2025: A Guide for Students and the Unemployed Are you a student or unemployed individual wondering about income tax filing? While it might not seem relevant, understanding the rules and benefits can be crucial for your financial future. Here’s a breakdown of what you need to know for the 2025 tax season. … Read more
Annual Information Statement (AIS) before filing your Income Tax Return (ITR) isn’t just a suggestion anymore – it’s a crucial step for a smooth tax season. The Income Tax Department is cracking down, and even small mismatches between your declared income and their records can lead to big headaches. Why the AIS is Your Best … Read more
Understanding how capital gains tax applies to your mutual fund investments is crucial, especially when filing your Income Tax Return (ITR) for FY2024-25. Many taxpayers find this area confusing due to the different types of funds and holding periods. Let’s break down what you need to know. Key Changes for FY2024-25 The Union Budget 2024 … Read more
Is Form 16 enough for filing your Income Tax Return (ITR) this year (Assessment Year 2025-26 / Financial Year 2024-25)? The short answer is no. While Form 16 from your employer is a crucial document, it only tells part of your financial story. What Form 16 Covers (and Doesn’t): Form 16 is essentially your employer’s … Read more
The Central Board of Direct Taxes (CBDT) has just dropped some significant updates regarding Income Tax Return (ITR) filing for 2025, particularly concerning mandatory scrutiny. If your case falls into certain categories, it’s highly likely you’ll be getting a notice. New Rules for Mandatory ITR Scrutiny The CBDT has outlined specific conditions that will trigger … Read more