by Team SKM | May 12, 2025 | ITR, News
In the case concerning the import of Textured Toughened (Tempered) Glass, whether Coated or Uncoated (referred to as the subject goods), falling under tariff headings 7003, 7005, 7007, 7016, 7020, and 8541 of the First Schedule to the Customs Tariff Act, 1975, the...
by Team SKM | May 12, 2025 | ITR, News
The Central Board of Direct Taxes (CBDT) has issued Notification No. 46/2025, dated 9th May 2025, officially releasing the updated ITR-7 Form for the Assessment Year 2025–26. This new form replaces the previous version outlined in Appendix II of the Income-tax Rules,...
by Team SKM | May 8, 2025 | ITR, News
Key updates:1. Schedule-Capital Gain split for gains before/ after 23.07.2024 (post changes in Finance Act, 2024)2. Capital loss on share buyback allowed if corresponding dividend income is shown as income from other sources (post 01.10.2024)3. Reference of sec 44BBC...
by Team SKM | May 6, 2025 | ITR, News
CBDT has notified the new ITR-2 Form for AY 2025–26, introducing key updates. These include separate disclosure of capital gains, permission to claim capital loss on share buybacks effective from October 1, 2024, and an increased threshold of ₹1 crore for reporting...
by Team SKM | May 5, 2025 | ITR, News
The Central Board of Direct Taxes (CBDT), on May 1, 2025, officially announced the release of the updated Income Tax Return Form ITR-5 for the Assessment Year 2025–26. This latest version of the form includes several important modifications that align with the changes...
by Team SKM | May 2, 2025 | ITR, News
The Income Tax Department has released ITR Forms 1 and 4 for AY 2025–26. The last date to file returns for FY 2024–25 is July 31, 2025. ITR-1 is for resident individuals with income up to ₹50 lakh from salary, one house property, and other sources. ITR-4 is for...
