Selling a residential house can result in long-term capital gains. However, eligible taxpayers can claim relief from capital gains tax when they reinvest the gains in another residential house in…
ITR Filing 2026: Do NRIs Need to File Schedule FA for Foreign Assets? Who Needs to Report Foreign Assets in Schedule FA? Resident and Ordinarily Resident (ROR) individuals generally need…
When you sell a capital asset such as a house, land, investment, or other property, the profit from the sale may be treated as capital gains and can become taxable.…
Overview Section 82 of the Income Tax Act, 2025 provides tax relief on certain long-term capital gains from the sale of a residential house. This provision applies to individuals and…
How to File Nil ITR Return A Nil ITR return is filed when your total income in a financial year is below the taxable limit and you do not have…
ITR-U (Updated Return): Meaning, Deadline, Eligibility & How to File (2026) What is ITR-U (Updated Income Tax Return)? ITR-U, also called an Updated Income Tax Return under Section 139(8A), is…
ITR-U: A Complete Guide on Filing Updated ITR Time Limit to File ITR-U The deadline for filing ITR-U is up to 48 months from the end of the relevant assessment…
How to File ITR-1 Online for AY 2026-27: A Step-by-Step Guide Income Tax Return-1 (ITR-1), commonly known as Sahaj (meaning “easy” in Hindi), is the simplest income tax return form…
5 Steps to Respond to an Income Tax Notice Online Received a tax notice and unsure how to proceed? This guide explains the process in simple terms so you can…
What Is ITR in Income Tax? Meaning, Types, and How to File in India Filing an Income Tax Return (ITR) is a key financial responsibility for every earning individual or…
Basics of Income Tax Return (ITR) in India Filing an Income Tax Return (ITR) is not only a legal requirement but also a smart financial practice. It helps you: Claim…
Understanding Section 144 of the Income Tax Act, 1961 – Best Judgement Assessment Navigating the Indian tax system can be complex, and few provisions cause as much confusion as Section…
Section 147 of the Income Tax Act: Income Escaping Assessment Section 147 of the Income Tax Act empowers the Income Tax Department to reassess income that may have escaped assessment…
Income Tax Act, 1961 – Section 131(1A): Responding to Income Tax Summons Section 131(1A) of the Income Tax Act is a significant investigative provision that empowers tax authorities to call…