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
Understanding Gift Tax Rules in India: A Practical Guide for ITR Filing Receiving a significant gift can be a joyous occasion, but it’s essential to understand the tax implications. In India, under Section 56 of the Income Tax Act, 1961, gifts are considered income and may be subject to tax, particularly if their value exceeds … Read more
ITR Filing 2025: Don’t Let Your Return Go to Waste—7 Ways to Verify Your ITR Filing your Income Tax Return (ITR) is a significant accomplishment, but the journey doesn’t end there. In 2025, a crucial final step—verifying your ITR—is more important than ever. Failing to do so within 30 days of submission can render your … Read more
Navigating the complexities of income tax can be daunting, especially with the choice between the Old and New Tax Regimes. While the New Tax Regime touts simplicity and lower tax slabs, a closer look reveals that the Old Tax Regime, with its array of deductions and exemptions, might offer you more significant savings—potentially over ₹1 … Read more
It’s ITR filing season again, and there’s some important news you need to know, especially regarding the tax rebate and deadlines for the Financial Year 2024-25 (Assessment Year 2025-26). Deadline Extended for FY2024-25! Good news! The income tax department has extended the ITR filing deadline for FY2024-25 from July 31, 2025, to September 15, 2025. … Read more
The Income Tax Return (ITR) filing deadlines for FY2024-25 (Assessment Year 2025-26) aren’t the same for everyone. Due to significant changes in ITR forms and system readiness, the Income Tax Department has extended some dates. Key ITR Filing Deadlines for FY2024-25 What Happens if You Miss the Deadline? Even if you miss your initial deadline, … Read more
Joint Mutual Fund Holdings & AIS Discrepancies: What a Housewife Should Do Scenario: Mr. A and Mrs. A hold mutual funds jointly. Mr. A regularly invests from his savings and files his income tax returns. Mrs. A is a housewife, and her income is below the taxable limit, so she doesn’t file an ITR. However, … Read more
As a retired senior citizen in India, navigating your taxes, especially with income from interest and capital gains, can feel like a maze. Let’s simplify how your tax would be calculated for the Financial Year 2024-25 (Assessment Year 2025-26), keeping your specific income in mind. Your Income Breakdown You’ve got a mix of income sources: … Read more
Don’t Miss This: Your AIS is Key to a Smooth ITR Filing 2025! The deadline for filing your Income Tax Return (ITR) for Financial Year (FY) 2024-25 (Assessment Year (AY) 2025-26) is now September 15, 2025 – an extension from the usual July 31st. This gives you extra time to ensure your e-filing is accurate, … Read more
It’s July 17, 2025, and while the Income Tax Department hasn’t yet rolled out the full online filing utility for ITR-2 and ITR-3 with pre-filled data, you still have options to file your returns. Current Status: Partial Online Filing Available Currently, you can’t directly file ITR-2 and ITR-3 on the e-filing portal using the pre-filled … Read more