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Category: ITR

September 25, 2025 / ITR

Jio Finance’s INR 24 ITR filing plan vs Tax e-filing portal

Jio Finance Tax Filing + Advisory Plan (INR 25,000) What’s Included in Jio Finance Tax Filing + Advisory Plan Unlimited video calls for tax filing assistance Tax calculation walkthroughs Next year tax planning with monthly advisory video calls Dedicated priority support That plan Covers NRI income, ESOPs & RSUs, Foreign income & Business income Pricing …

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August 31, 2025 / ITR

Carry Forward of Losses – Important Points

Carry Forward of Losses – Important Points House Property Loss : Carry forward allowed for 8 years. Can be carried forward even in belated returns (filing on time not mandatory). Speculation Loss : Can be carried forward for 4 years. & Filing return on time is mandatory. Business Loss (Non-speculative) : Normal business loss: 8 …

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October 8, 2025 / ITR

All about the Decoding the Business Codes in ITR

Overview: Decoding the Business Codes in ITR The Income Tax Dept has updated business & profession codes in the ITR forms to reflect the evolving nature of businesses in India.  from traditional trades to emerging sectors like social media and online trading. These codes classify specific activities, ensuring taxpayers report their income under the correct …

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August 9, 2025 / ITR

Form 10-IEA filing requirements & switching restrictions

Form 10-IEA filing requirements & switching restrictions Under this blog where summaries Form 10-IEA filing requirements & switching restrictions when changing between new & old tax regimes for FY 2023–24 & FY 2024–25. Form 10-IEA filing is only required for ITR 3 & 4 taxpayers who choose the Old Regime. Taxpayer Switching Restrictions apply only …

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July 8, 2025 / ITR

Key guidance Advisory for MF Investors w.r.t. ITR Filing

Key guidance for MF to ensure accurate ITR filings & avoid inflated capital gains reporting due to duplicate entries in the AIS: What is the issue: duplicate mutual fund redemptions in AIS What’s Happening in such a case: During this year’s ITR filing season, a peculiar issue has emerged in the AIS reporting of mutual …

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June 25, 2025 / ITR

Release of Excel Utilities for ITR-1 &  ITR-4 for FY 2024-25

  BREAKING NEW : Excel Utilities for ITR-1 & ITR-4 Now Available for AY 2025-26! Tax Filing Season Officially Begins : The early release of Excel Utilities for ITR-1 and ITR-4 for AY 2025-26 is a welcome step, allowing taxpayers to prepare and file their returns well ahead of time. Don’t wait for the deadline …

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April 25, 2025 / ITR

What are the common Reasons for Scrutiny & How to Avoid Them

What are the common Reasons for Scrutiny & How to Avoid Them Why Do You Receive an Income Tax Notice? Even if you have filed your Income Tax Return (ITR) correctly and on time, a notice may still land in your inbox. The reasons could range from minor errors to major mismatches. Understanding these can …

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June 3, 2025 / ITR

Comparison of ITR-U & Condonation of Delay u/s 119(2)(b)

Differences Between Updated Return (ITR-U) and Application for Condonation of Delay u/s 119(2)(b): Amendments in Budget 2025 for ITR-U  Previously, taxpayers had 2 years from the end of the relevant assessment year to file an updated return (ITR-U). Budget 2025 extends this period to 4 years, providing more time for taxpayers to correct omissions and …

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March 6, 2025 / ITR

Updated Return can sometimes be costlier than a reassessment

Updated Return (ITR-U) Can sometimes be costlier than a reassessment. Can updating ITR cost you more than a reassessment? Yes, updating an Income Tax Return (ITR) using ITR-U (Updated Return) can sometimes be costlier than a reassessment initiated by the Income Tax Department. The proposed extension of the ITR-U (Updated Return) filing window from two …

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March 18, 2025 / ITR

Fact Check: Citizens above 75 years old are exempt from tax

The viral claim that senior citizens above 75 years old are exempt from paying taxes is false. Fact Check: What is the Truth? No Tax Exemption for Senior Citizens Above 75 Years : The Government of India has not announced any such exemption for senior citizens. Section 194P – Exemption from Filing ITR, Not Paying …

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    RCS Recent Posts

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    • Current Account Rules & Transactions to Avoid Scrutiny September 27, 2025
    • GST applicability for supply made by cold storage facility September 26, 2025
    • Jio Finance’s INR 24 ITR filing plan vs Tax e-filing portal September 25, 2025
    • New Deadline of TRA from 30th Sept 2025 to 31st Oct 2025 September 25, 2025
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