INCOME TAX RETURN ITR
ITR Filing Deadline Extension: Now Karnataka commerce body, Surat CA unit seek ITR due date extension
Several bodies are requesting an extension to the Income Tax Return (ITR) filing deadline. The Federation of Karnataka Chambers of Commerce & Industry and the Chartered Accountants Association, Surat, have also joined. They cite technical issues, form changes, and portal glitches as reasons for the delay.
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.
ITR filing deadline needs to be extended as portal glitch, Navratri, Dussehra festive season and new ICAI format for non-corporates, says RTCA
ITR filing due date: Tax consultants in Rajasthan are requesting an extension for the Income Tax Return filing deadline. They cite glitches on the e-filing portal as a major issue. The new format from ICAI for non-corporates is also causing delays. The festive season adds to the challenges. Associations want the deadline extended to November 15.
You have to file ITR if you carried out any of these eight transactions
Even with income below Rs 2.5 lakh (old regime) or Rs 3 lakh (new regime), filing ITR is mandatory if certain transactions occurred. These include spending over Rs 2 lakh on foreign travel, holding foreign assets, high TDS/TCS amounts, significant deposits in current or savings accounts, high business turnover or professional receipts, or substantial electricity bill payments.
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Sold your house property or land? These nine sections in Income Tax law can help save capital gains tax
Indians can save capital gains tax on property sales. The Income Tax Act offers nine sections for tax reduction or zero tax. Sections cover residential, industrial, agricultural land sales. Investment in new properties or bonds provides exemptions. Relocation of industrial units to specific zones also offers tax benefits. Investing in eligible startups can reduce tax burden.
Father sells house worth Rs 67 lakh and shows only Rs 1,690 income in ITR, wins case in ITAT Ahmedabad; Know how
Dilip, an Indian taxpayer, won a case at the ITAT Ahmedabad regarding a Section 54 LTCG tax exemption. Despite initially facing scrutiny for claiming Rs 15.99 lakh as indexed cost of improvement with cash payments and selling his house below stamp duty value, the ITAT directed the tax officer to verify and allow his claim. Read more.
Extend income tax audit deadline due to ITR portal glitch, enhanced reporting needs: BCAS
The Bombay Chartered Accountants' Society (BCAS) has urged for extensions to income tax deadlines, citing persistent glitches on the e-filing portal. BCAS, along with other associations, highlighted challenges like delayed utility releases, technical bottlenecks, and overlapping deadlines. They propose extending deadlines for tax audit reports and ITR filings to alleviate taxpayer burden and ensure compliance quality.
Now even BJP CA cell asks for ITR deadline extension due to technical glitches, data mismatch on the ITR portal
The Bharatiya Janata Party (BJP) CA Cell in Pune has urged Finance Minister Nirmala Sitharaman to extend Income Tax Return (ITR) and tax audit deadlines, citing challenges like delayed utility releases, technical glitches on the income tax portal, and reduced working days due to festivals and heavy rains. Several other associations like BCAS, have also requested extensions due to similar difficulties.
She sold her house for Rs 2.7 crore to buy seven new flats and paid no income tax, wins case in ITAT Delhi; Know how
Saroj sold her Punjabi Bagh house for Rs 2.7 crore. She then bought seven apartments in Greater Noida. She reported Rs 5 lakh income in ITR and claimed Rs 2.2 crore LTCG tax exemption. The tax department partially denied the exemption. Then Saroj appealed to ITAT Delhi. ITAT Delhi ruled in her favor.
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.
How to file ITR if you have sold house or land in FY 2024-25
For AY 2025-26, individuals and HUFs selling property can save on capital gains by reinvesting in another property under Section 54/54F. Choosing the correct ITR form, like ITR-2 or ITR-3, is crucial. Depositing unutilized gains in the CGAS before filing the ITR is essential to avoid taxation. Taxpayers must report sale details and claim exemptions accurately in Schedule CG.
Consider filing a 'nil' Income Tax Return - Sometimes it's mandatory, and other times it can benefit you
While it is true that you may not have any tax dues, that alone does not mean you can skip filing your return. Filing ITR is not just about paying taxes-it is also about reporting your income formally to the government, complying with certain rules, and enjoying several benefits that come along with it.
ITR filing deadline extension now demanded by this Tax Bar Association due to many issues including technical glitches with ITR portal
The tax bar association, which includes tax practitioners, chartered accountants, company secretaries, advocates, and consultants, in its letter, highlighted how taxpayers and professionals have been struggling this year due to the late release of utilities, ongoing technical issues with the ITRportal, and additional compliance steps.
ITR filing deadline: How much penalty amount you need to pay if you miss September 15 due date?
The ITR filing deadline is September 15, 2025. This is for individuals not requiring audits. Missing it means late fees. Section 234F details penalties up to Rs 5,000. Lower income taxpayers may pay Rs 1,000. Penal interest also applies. Certain high-value transactions mandate ITR filing. Filing ITR is a duty. It validates creditworthiness for financial benefits.
From Rs 21,350 tax demand to zero tax; How a taxpayer won Section 87A case in ITAT Bengaluru
In a taxpayer-friendly ruling, the ITAT Bengaluru allowed Mr. Jakkaraju's Section 87A tax rebate claim, even though it was filed in a revised ITR. The tribunal emphasized that the initial failure to claim the rebate constituted a valid reason for revision. This decision aligns with a Bombay High Court ruling, ensuring taxpayers can rectify omissions and avail of entitled benefits.
Have foreign income or income from equity? Know how to report this in ITR form for AY 2025-26
Reporting foreign income in ITR: Individuals who have assets and income from overseas sources are mandated to utilize either ITR 2 or ITR 3 forms when filing their tax returns. This is because Schedule FA, which is specifically designed for reporting foreign assets and income, can be found in these forms.
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.
Husband has to pay income tax for wife’s Rs 17-crore land sale deal due to this reason; ITAT Bangalore ruling explained
In a recent ruling, the Income Tax Appellate Tribunal (ITAT) Bangalore held that a wife is exempt from income tax on the ₹17.26 crore sale of land gifted by her husband. The ITAT cited Section 64(1)(iv) of the Income Tax Act, stating that income from assets gifted between spouses is taxable in the hands of the transferor, not the recipient.
Has the promised zero penalty privilege for small taxpayers been taken away in the New Tax Act 2025? Here’s what experts say
The Lok Sabha approved the Income Tax Act 2025. It clarifies rules for late ITR filing and tax refunds. A select committee suggested changes to Section 263. The bill removes sub-clause (1)(ix). Taxpayers can now claim refunds even with delayed returns. This resolves confusion for those filing after the deadline. The new rules aim to provide flexibility for refund claims.
Extend ITR and tax audit deadlines due to tax portal glitch, data mismatch in AIS and Form 26AS, new ICAI format, says CCTAX
ITR Filing Deadline Extended?: The Chandigarh Chartered Accountants Taxation Association (CCTAX) has urged the CBDT to extend the ITR and tax audit deadline for AY 2025-26, citing persistent glitches on the ITR filing portal, data mismatches, and recent ICAI format changes. CCTAX highlights that natural calamities and delayed utility releases have further complicated compliance. Read more.
ITR filing due date for FY 2024-25 is September 15, 2025, but is it also deadline to pay self-assessment tax without penalty?
The government extended the income tax return filing deadline for FY 2024-25 to September 15, 2025, offering relief to many taxpayers. Experts suggest that with the ITR filing due date for FY 2024-25 (AY 2025-26) extended to September 15, 2025, the revised date will be considered as the 'due date' for the purposes of Section 234A.
My wife bought a flat with money that I transferred to her, how should we show it in our ITR?
I’ve purchased a flat in my wife’s name, and all payments to the developer are being made from her bank account. The money was transferred from my account to hers, and I’ve already paid tax on it. While filing her income tax return, how can I show this transfer as a gift?
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.
CBDT to simplify ITR forms to match new law
The Income Tax Department is revamping income tax return forms to align with the new income tax law effective April 1, 2026. An internal committee is simplifying the language and enhancing ease of filing, aiming for completion by December followed by public consultation.
ITR filing FY2024-25: How to register online on e-filing portal to file income tax return; a step-by-step guide
First-time taxpayers, get ready to file your Income Tax Return. The deadline is September 15, 2025. Register on the Income Tax Department's e-filing portal now. A valid PAN, mobile number, and email ID are needed. The portal offers many tax-related services. Follow the simple steps to create your account. Set a strong password for security.
Earned money from Dream 11, Rummy, other real money gaming apps? File ITR now to report this income or risk tax notice and likely prosecution
Income from online real money games like Dream 11 and Rummy is taxable, necessitating ITR filing. Even small winnings are subject to a 30% tax rate, and TDS is deducted by gaming platforms. Failure to report such income can lead to tax notices and potential prosecution, emphasizing the importance of compliance.
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.
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