The key changes in ITR‑4 (Sugam) for FY 2024‑25 (Assessment Year 2025‑26): 🧾 1. LTCG Reporting Allowed (up to ₹1.25 lakh) Taxpayers with long‑term capital gains (LTCG) up to ₹1.25 lakh under Section 112A—without any brought‑forward or carried‑forward capital losses—can now report it in ITR‑4 (or form ITR‑1). Previously, any capital gains pushed you to ITR‑2/3. A dedicated field, “Income… Continue reading Key ITR-4 Changes for AY 2025-26: LTCG, Limits, Disclosures & Compliance
ITR-4, also known as Sugam, is the Income Tax Return form meant for resident individuals, HUFs (Hindu Undivided Families), and Firms (other than LLPs) who are opting for the Presumptive Taxation Scheme under Section 44AD, 44ADA or 44AE of the Income Tax Act. Who Can File ITR-4 for FY 2024-25? ITR-4 form filing can be… Continue reading ITR-4 FY 2024-25: Eligibility, Benefits & Filing Steps
Tax Deducted at Source (TDS) is a method of tax collection introduced by the Income Tax Department of India. It ensures that taxes are deducted at the point of income generation and deposited with the government. Among various forms used to file TDS Returns, Form 26Q is one of the most widely used, specifically for… Continue reading Understanding TDS Returns: Form 26Q
The Indian Income Tax Return (ITR) framework includes a variety of forms tailored to different categories of taxpayers. Among them, ITR 4 Form Filing (Sugam) stands out as a simplified, user-friendly option for small business owners, professionals, and freelancers who want to take advantage of presumptive taxation under Sections 44AD, 44ADA, and 44AE of the… Continue reading Mastering ITR-4 for FY 2024-25 (AY 2025-26): A Complete Guide for Small Taxpayers & Professionals
Filing your Income Tax Return (ITR) is a crucial responsibility for every taxpayer in India. For the Financial Year 2024-25 (Assessment Year 2025-26), the Income Tax Department has introduced several updates to the ITR-1 form, aiming to simplify the filing process and enhance compliance. This guide provides an in-depth look at the ITR-1 form, the… Continue reading Comprehensive Guide to Filing ITR-1 for FY 2024-25 (Assessment Year 2025-26)
With the growing environmental challenges posed by increasing waste, especially plastic and electronic waste, governments worldwide are implementing stricter regulations to promote sustainable practices. One such regulatory approach is Extended Producer Responsibility (EPR). EPR Certificates are a key component of this policy mechanism, designed to hold producers accountable for the end-of-life management of their products.… Continue reading Understanding EPR Certificates: A Guide to Extended Producer Responsibility
The Income Tax Return (ITR) forms for the Financial Year (FY) 2024-25 (Assessment Year 2025-26) have undergone several updates to enhance transparency, compliance, and ease of filing. General Updates Across All ITR Forms Pre-filled Data Expansion: The pre-filled ITR forms now include a broader range of income categories, reducing manual entry and minimizing errors. Bank… Continue reading ITR Filing FY 2024-25: New Rules, Deadlines & Important Updates
BOOK YOU CRYPTO TAX EXPERT AND GET AN EXCLUSIVE 60% OFF If you traded crypto in FY 2024-25, it needs to be reported your gains and disclose all trades in the VDA (virtual digital assets) schedule, covering cryptocurrencies and NFTs. In India, the taxation of cryptocurrency is governed by specific rules introduced in the Finance… Continue reading How is Cryptocurrency Taxed in India? Save 60% on Crypto Tax Filing!
1. What is Section 133(6) of the Income Tax Act? Section 133(6) of the Income Tax Act, 1961, allow the tax authorities the power to issue notices to individuals or entities, requiring them to furnish certain information or documents in relation to their financial dealings. These documents may include financial statements, records, or details of… Continue reading Income Tax Notice under Section 133(6)
What is Leave Encashment? A salaried individual is entitled to a minimum number of paid leaves annually by their employer. However, it is not mandatory for an employee to use all the allowed leaves in the same year. The unutilized paid leaves at the end of the year are carried forward to next year. Employees… Continue reading Leave Encashment Taxability with Example: Taxation Rules You Need to Know
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