The Income Tax Department has rolled out online filing facilities for ITR-1 and ITR-4 for Assessment Year 2025–26. Taxpayers ...

Income Tax Bill introduces a new clause that allows capital gains to be calculated in foreign currency, accounting for forex ...

This update comes shortly after the release of excel utilities for the same forms last week. The department aims to simplify ...

The Income Tax Department has rolled out updated Excel utilities for ITR-1 and ITR-4 for AY2025–26. These forms now support ...

ITAT Ahmedabad held that addition towards accommodation entries of bogus LTCG cannot be sustained in absence of any iota of tangible perceptible evidence. Accordingly, appeal allowed and addition set ...

Unlike the earlier regime under the Income Tax Act, 1961, which required NRIs to compute capital gains entirely in Indian ...

Individual taxpayers earning long-term capital gains (LTCG) up to ₹1.25 lakh under Section 112A of the Income Tax Act, 1961, can now file their income tax returns (ITRs) using the simplified ITR-1 ...

Avinash Polepally, Business Head at ClearTax, has provided an authoritative explanation of the reasoning behind the extension ...

The amendment in Finance Bill relating to LTCG tax on real estate transactions has restored the indexation benefit on properties acquired before July 23, 2024. This amendment has ensured that ...

A very significant change that was brought in by the Union Budget 2024 was related to Long Term Capital Gains (LTCG) on sale ...

Investors should view the increase in the LTCG tax rate in conjunction with the increase in capital gains exemption from Rs 1 lakh to Rs 1.25 lakh, which will provide some relief. Illustration ...

The provisions of Section 112A of the Income Tax Act in relation to computation of tax liability on LTCG arising on sale of specified securities (including shares listed on a recognized stock ...