समाधान Taxation

09/06/2025

It is to inform you that the filing of ITRs are now to be started very soon. ITR Forms 1 and 4 have been uploaded by the IT Department, other forms are still awaited.

Those taxpayers who wish to file under Old Tax Regime they are supposed to submit the details as per the enclosed format under different respective sections.

It is now made mandatory by the department to furnish these details. Hence please provide these information alongwith Form 16 as soon as possible.

Thanks and Regards

For समाधान Taxation

28/05/2025

Kind Attention Taxpayers!

CBDT has decided to extend the due date of filing of ITRs, which are due for filing by 31st July 2025, to 15th September 2025

This extension will provide more time due to significant revisions in ITR forms, system development needs, and TDS credit reflections. This ensures a smoother and more accurate filing experience for everyone. Formal notification will follow.

03/05/2025

Kind attention Taxpayers!

CBDT notifies ITR-Form 3 for AY 2025-26 vide Notification No. 41/2025 dated 30.04.2025.

Key updates:
🖋️ Schedule-Capital Gain split for gains before/ after
23.07.2024 (post changes in Finance Act, 2024)
🖋️Capital loss on share buyback allowed if corresponding dividend income is shown as income from other sources (post 01.10.2024)
🖋️Asset & liability reporting limit raised to ₹1 crore of total income
🖋️Reference of sec 44BBC (cruise biz) added
🖋️Enhanced reporting for deductions [80C,10(13A)] etc.
🖋️TDS section code to be reported in Schedule-TDS

Details available at: https://egazette.gov.in/(S(v3gcier53cwxf2qbl4fiftbg))/ViewPDF.aspx

03/05/2025

Kind attention Taxpayers!

CBDT notifies ITR-1 (Sahaj) & ITR-4 (Sugam) for AY 2025-26 via Notification No. 40/2025 dated 29.04.2025.

Key updates:
🖋️ File ITR-1 or ITR-4 even with Long term capital gains U/s 112A (up to ₹1.25 lakh with no brought forward/ carry forward loss)
🖋️ Changes made to capture details of deductions claimed under various sections.
🖋️Section under which TDS is deducted will be captured in Schedule-TDS.

Details available at -https://incometaxindia.gov.in/communications/notification/notification-40-2025.pdf

30/03/2025