ITR-3 is the Income Tax Return form applicable to Individuals and Hindu Undivided Families (HUFs) having income from business or profession. It is commonly used by business owners, freelancers, consultants, traders, and partners in firms. For Assessment Year (AY) 2026-27, the Central Board of Direct Taxes (CBDT) has notified the revised ITR-3 form with several… Continue reading How to File ITR-3 for AY 2026-27: Step-by-Step Checklist
ITR-2 is the Income Tax Return form applicable to Individuals and Hindu Undivided Families (HUFs) who do not have income from business or profession but have more complex income sources than those covered under ITR-1. For Assessment Year (AY) 2026-27, the Central Board of Direct Taxes (CBDT) has notified the revised ITR-2 form with several… Continue reading Filing ITR-2 for AY 2026-27: Checklist and Important Dates
ITR-1 (Sahaj) AY 2026-27 ITR-1, also known as “Sahaj,” is the most commonly used Income Tax Return filing form for salaried individuals and pensioners in India. For Assessment Year (AY) 2026-27, the Central Board of Direct Taxes (CBDT) has introduced several important changes to simplify return filing for taxpayers. What is ITR-1 (Sahaj)? ITR-1 is… Continue reading Who Can File ITR-1 for AY 2026-27? Eligibility, Rules & Updates
Filing an Income Tax Return (ITR) is an essential compliance requirement for taxpayers in India. An ITR is a form through which taxpayers declare their income, deductions, taxes paid, and refunds claimed during a financial year. Timely filing helps avoid penalties, interest, and legal notices from the Income Tax Department. What is an Income Tax… Continue reading Income Tax Return (ITR) Filing for AY 2026-27
Freelancing and consulting have become increasingly popular in India, offering flexibility, independence, and diverse income streams. However, with this freedom comes the responsibility of managing taxes effectively. Filing your Income Tax Return (ITR) correctly is crucial to avoid penalties and maximize savings. This comprehensive guide will walk freelancers and consultants through everything they need to… Continue reading ITR Filing for Freelancers and Consultants in India
Filing Income Tax Returns (ITR) in India can be complex, especially for Non-Resident Indians (NRIs). With changing tax regulations and compliance requirements, understanding when and how to file your ITR is crucial. Taxcellent simplifies this process, ensuring NRIs stay compliant while maximizing their tax benefits. Who is an NRI for Tax Purposes? An individual is… Continue reading ITR Filing for NRIs – A Complete Guide by Taxcellent
Selling property in India comes with tax implications, and recent updates have introduced a new 12.5% tax rate option for long-term capital gains (LTCG). Understanding both the old and new regimes is essential to optimize your tax liability. What is Capital Gains Tax? Capital gains tax is charged on the profit earned from selling a… Continue reading Capital Gains Tax on Property Sale in India: New 12.5% Rule Explained
Tax Deducted at Source (TDS) is one of the most important compliance mechanisms under the Indian Income Tax Act, 1961. It ensures that tax is collected at the point of income generation and deposited with the government on a real-time basis. Every person or entity responsible for making specified payments, such as salary, rent, professional… Continue reading Mandatory TDS Returns: Due Dates, Penalties & FAQs for FY 2025-26
1. Background of the dispute Tiger Global, a major US-based investment firm, invested in Flipkart (an Indian e-commerce company) through Mauritius-based entities and made a substantial capital gain (about US $1.6 billion) when it partially sold its stake to Walmart in 2018. 2. Treaty and tax claim Tiger Global claimed exemption from Indian capital gains… Continue reading Tiger Global Tax Case – Key Points
Some of the expectations on the personal tax front from the Budget 2026 are as follows: 1. Introduction of an Optional Joint Taxation Framework for Married Couples Under the prevailing income-tax framework, India follows an individual-based system of taxation, wherein each spouse is assessed separately, irrespective of marital status or the extent to which household… Continue reading Union Budget 2026 – Pre-Budget Wish List on Personal Tax Reforms
We have launched a range of Chartered Accountants Services for families along with a complete income tax filing product suite covering ITR-1 to ITR-7. With the launch of our families division, we aim to help millions of Indians with financial literacy, compliance and investment.
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