E VERIFY ITR
ITR deadline: Do I need to file ITR if my salary income is less than Rs 3 lakh? Know when you need to file ITR
With the ITR filing deadline of September 15, 2025, fast approaching, the Income Tax Department is sending reminders. Filing is mandatory if your income exceeds ₹3 lakh under the new regime or Rs 2.5 lakh under the old regime, as per FY 2024-25 rules. Even with income below the limit, certain transactions or refund claims necessitate filing.
If you don’t make these 8 disclosures, your ITR may be treated as defective
Filing income tax returns (ITR) requires careful attention to detail, as certain omissions can lead to a defective ITR. Key disclosures include foreign assets, income, crypto transactions, and unlisted equity shares. Failing to report these details, especially for residents with overseas holdings, can result in penalties and even imprisonment, though some relief exists for movable assets under Rs 20 lakh.
UPI limit increased to Rs 10 lakh within 24 hours for these transactions
NPCI has increased the per-transaction and 24-hour aggregate UPI limits for specific categories, effective September 15, 2025. Capital markets, insurance, and government e-Market Place transactions now have a Rs 5 lakh per-transaction limit and a Rs 10 lakh daily limit. Credit card payments and collections will also see increased limits, enhancing convenience for high-value transactions with verified merchants.
ITR filing after deadline: What is condonation of delay request? How it can save you from penalties
The Income Tax Department has enabled condonation of delay applications for Form 10A filings, offering relief to taxpayers who missed deadlines due to genuine reasons. If approved under section 119(2)(b), taxpayers can file their ITR without penalties, interest, or additional taxes.
Select black money holders to get relief: Income tax dept. to not not apply penalty and prosecution in these situations
The Income Tax Department offers relief regarding unintentional black money. Individuals failing to disclose foreign assets up to Rs 20 lakh may avoid penalties and prosecution. This applies to assets excluding immovable property. The Central Board of Direct Taxes amended its instructions. The new rule aims to provide relief for unintentional omissions. It focuses enforcement on significant cases of non-disclosure.
No income tax for lady who sold land for Rs 4.5 crore; Know how a 1955 circular and established case laws saved the day for her
Seema S sold property in Patna. She incorrectly claimed Section 54 for LTCG tax exemption. The tax officer rejected her claim. Seema appealed to ITAT Patna. Her lawyer argued about the assessing officer taking advantage of her ignorance. ITAT ruled in Seema's favor. The case was sent back to AO to allow claim for Section 54F. Read more.
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Documents for ITR filing FY 2024-25 (AY 2025-26): Eight documents you must keep ready to file your income tax return
The government has extended the ITR filing deadline for FY 2024-25 to September 15, 2025, benefiting taxpayers not requiring audits. Taxpayers should verify income details using Form 26AS and AIS. Gathering key documents like Form 16, capital gains statements, and interest certificates in advance simplifies the filing process and ensures accurate reporting of income, investments, and deductions.
ITR filing AY 2025-26: How to add and validate your bank account details to receive income tax refund
To finalise online ITR filing, verifying your income tax return is essential. Taxpayers can add and pre-validate their bank account details on the income tax portal to receive a tax refund. Multiple accounts can be validated and nominated for refunds. It's important to keep contact details updated to avoid issues with revalidation.
16 transactions which tax dept gets to know via SFT returns; Report them now to avoid possible jail term for misreporting income
Banks and financial institutions file the Specified Financial Statement (SFT) with the income tax department, detailing taxpayers' financial transactions. This PAN-based information is used to monitor financial activities and detect potential tax evasion. Discrepancies between reported income and financial transactions can trigger scrutiny, penalties, and even prosecution for tax evasion, emphasizing the importance of accurate ITR filings. Read more.
Wife gets tax notice for husband’s Rs 6.75 crore Mumbai house purchase; Bombay High Court gives relief to wife
The Bombay High Court gave relief to a wife from a tax notice related to a Rs 6.75-crore property, as her husband solely funded the purchase, adding her name for convenience. The court emphasised that tax authorities must verify the actual source of funds, protecting nominal joint owners from unwarranted scrutiny. Read more.
Filed ITR will become invalid unless verified within 30 days from this date
ITR filing: Taxpayers must e-verify their returns within 30 days of filing to avoid penalties, utilizing various online methods or submitting ITR-V to the Bengaluru processing center.
Online ITR filing charges across six tax filing websites compared for AY 2025-26
Taxpayers must file income tax returns by September 15, 2025. Several options exist, from self-filing on the e-filing ITR portal to seeking assistance from Chartered Accountants or third-party websites. These platforms offer varied plans, including assisted filing and expert consultations. Costs differ across websites like TaxManager, ClearTax, and Tax2Win, depending on income level and required services. Read below to know the charges.
How to file ITR-2 for AY 2025-26 with salary, capital gains, foreign income and others; Here's a step-by-step guide
Taxpayers with income from salary, capital gains, or unlisted equity shares can file ITR-2. For AY 2025-26, the ITR-2 excel utility has six updates, including reporting capital losses on share buybacks. The article provides a step-by-step guide on filing ITR-2 online and using the excel utility, covering capital gains reporting and other essential details.
How to file ITR-1 online: A step-by-step guide for salaried taxpayers also having income from house property, LTCG and other source under new tax regime
Salaried taxpayers with income from house property, LTCG, and other sources can file ITR-1 online following a step-by-step guide. The Income Tax Department extended the ITR filing deadline to September 15, 2025, for FY 2024-25. Taxpayers can now report LTCG up to Rs 1.25 lakh using ITR-1, simplifying the filing process under the new tax regime.
ITR filing 2025: Who can file ITR-2, who cannot file it for FY 2024-25 (AY 2025-26)?
For the assessment year 2025-2026, taxpayers using ITR-2 must understand eligibility and new reporting requirements, including capital gains calculations and asset disclosures. Individuals and HUFs with income exceeding Rs 50 lakh, or those with specific income sources like capital gains or foreign assets, may need to file ITR-2.
Step-by-step guide on how to file ITR-1 using excel utility with non-taxable LTCG income, salary, others
The Income Tax Department has simplified tax filing with the ITR-1 form, now allowing those with LTCG income up to Rs 1.25 lakh to use it. This guide provides a step-by-step process on how to file ITR-1 using the excel utility, covering everything from downloading the utility to e-verification, ensuring a smooth tax filing experience for eligible individuals. Read more.
UPI at a crossroads? Deep unease in the informal sector as tax axe falls
India's UPI system, despite its global success, faces backlash as small vendors receive GST notices based on digital transaction data. This has led to a shift back to cash transactions, with vendors fearing tax scrutiny. Concerns rise that aggressive formalisation efforts may push the informal economy further underground, undermining the goals of financial inclusion and transparency.
Capital gain tax ready reckoner: Listed equity, unlisted equity, gold, house property, and other assets for ITR filing FY 2024-25 (AY 2025-26)
Latest Capital gain tax rules: The capital gain tax rules were changed in the mid-year from FY 2024-25 (AY 2025-26). Due to this, a taxpayer needs to be aware of both the old and new rules to pay the correct tax, depending on the date of sale. Here is a handy guide for individual taxpayers who have STCG and LTCG from houses, listed equity, unlisted equity, gold, and other assets.
Income tax refund 'Manual Verification' email could be a trap: Know how to identify this fraud and avoid
As the tax filing season begins this year, cybercriminals are actively trying to exploit unsuspecting taxpayers by sending phishing emails that look official. The government has cautioned the taxpayers that this could potentially be a fraudulent or phishing email.
Income tax audit forms are now enabled for business and professional income on ITR e-filing portal, check 5 prominent changes in form 3CA-3CD and 3CB-3CD
The Income Tax Department has enabled Income Tax Audit via Forms 3CA-3CD and 3CB-3CD on the e-Filing ITR portal. These changes are effective for the financial year 2024-25. The deadline for filing the tax audit report is September 30, 2025. Taxpayers must file their income tax returns by October 31, 2025. Read below to know more.
Online ITR-2 filing enabled with pre-filled data: Income taxpayers with capital gains, crypto, other incomes can now file ITR-2 online
ITR 2 filing start date: The Income Tax Department has enabled online filing for ITR-2. Taxpayers with capital gains and crypto income can now file returns. The e-filing portal has pre-filled data for convenience. The extended deadline for FY 2024-25 is September 15, 2025. ITR-2 is applicable for individuals and HUFs with various income sources. Key updates include capital gain splits and enhanced deduction reporting.Know more.
How to download Form 26AS for ITR filing FY 2024-25 (AY 2025-26)?
The I-Tax Department has extended the last date for filing ITR from July 31, 2025, to September 15, 2025, for FY 2024-25. Verifying Form 26AS confirms that the tax deducted matches the amount shown on your ITR.
How to download AIS, TIS for ITR filing FY 2024-25 (AY 2025-26)
Indian taxpayers can now easily access their financial data through the Annual Information Statement (AIS) and Taxpayer Information Summary (TIS) on the Income Tax portal.
ITR verification process methods: 5 ways to e-Verify your Income Tax Return
It is necessary to verify an ITR to complete the return filing process; without verification within the stipulated time, an ITR is treated as invalid.
ITR-2 and ITR-3 excel utility released by Income Tax Department; Taxpayers with capital gains, crypto, other incomes can now file ITR
ITR filing AY 2025-26: The Income Tax Department has released excel utilities for ITR-2 and ITR-3, enabling taxpayers with capital gains and crypto income to file returns for FY 2024-25 (AY 2025-26). Key updates include a capital gain split, share buyback loss allowance, and a raised asset/liability reporting limit to Rs 1 crore. Read below to know more.
Income Tax: Changing these details on e-Filing website? Here's are the ways you can e-verify it
The Income-Tax Department emphasizes updating contact details on the e-Filing portal. This ensures secure communication. A new e-verification step is now mandatory. Taxpayers can use Aadhaar OTP or other methods. The process involves logging in, editing contact details, and e-verifying. Confirmation messages will be sent upon successful update. Keep the Transaction ID for future use.
Can your HRA tax exemption claim get rejected despite submitting all proofs?
Salaried individuals claiming HRA tax exemption should ensure accuracy and compliance, as discrepancies can lead to rejection. Tax officers may dispute claims if rent receipts are deemed fake, landlord's PAN is missing, or transactions lack verifiable proof. Maintaining thorough documentation, including rent agreements and bank statements, is crucial to substantiate the genuineness of HRA claims and avoid potential scrutiny. Read more.
NRIs filing ITR in India should know these four income tax-related changes
NRI ITR filing changes: This year, income tax return filing will see changes due to the Income Tax Act amendments made via Budget 2024. Here are four changes that an NRI should know to ensure they are able to file their tax return properly.
ITR filing for salaried employees is easier with these sources of income: Here's how
By now, most salaried individuals would have received their Form 16-a crucial document that summarizes salary earned, deductions claimed, and TDS deducted during the financial year. For salaried taxpayers, this remains the most essential document for accurate filing of their ITRs.
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