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ITR Series: Day 19: How to Claim a Refund and Track It

TaxationJuly 7, 202513Views 0Likes 0Comments

Table of Contents Overview What is an Income Tax Refund? When Can You Claim a Refund? How to Claim a Tax Refund in India? How to Track Your Refund? How Long Does It Take? Final Thoughts Today, we focus on something that brings a smile to every taxpayer’s face and every taxpayer looks forward to —…

ITR Series: Day 18: Understanding Intimation Under Section 143(1) – What It Means for Your ITR

TaxationJuly 5, 202516Views 0Likes 0Comments

Table of Contents Introduction What is Section 143(1)? Types of Intimations You Can Receive. Key Components of the Intimation Where Do You Get the Intimation? Common Reasons for Intimation Mismatches. What Should You Do After Receiving 143(1) Intimation? Deadline to Act Final Word Once you file your Income Tax Return (ITR), the process doesn’t end there.…

ITR Series: Day 17: Rectify or Revise a Mistaken ITR: An Overview

TaxationJuly 4, 202524Views 0Likes 0Comments

Table of Contents Overview Option 1- Revised Return u/s 139(5) Option 2- Rectification Request u/s 154 Quick Comparison Final Word Filing your Income Tax Return (ITR) is a crucial step — but what if you realize later that you've made a mistake? Don’t panic, don’t lose sleep — and definitely don’t ignore it. The…

ITR Series: Day 16: What Happens After You File ITR? – Intimations, Refund Process & More

TaxationJune 27, 202510Views 0Likes 0Comments

Table of Contents Introduction ITR Verification- Complete the Filing Processing of Return & Intimation under 143(1) Refund Process-When You Will Get Your Money? Possibility of Notices or Scrutiny Filing a Revised Return or Rectification Final Words You've successfully filed your Income Tax Return , that's a big step done . But what happens next? Many assume…

ITR Series: Day 15: How to E-Verify Your ITR – The Final (But Crucial) Step in Your ITR Journey

TaxationJune 25, 202512Views 0Likes 0Comments

Table of Contents Overview Why E-Verification matters? Methods to e-verify your ITR Timeline to e-verify Final Thoughts Still think you're done after clicking 'Submit'? Think again. Filing your Income Tax Return (ITR) is like signing up for a marathon—you’ve entered the race, but haven’t crossed the finish line yet. That final sprint? It’s called e-verification. Skip…

ITR Series: Day 14:ITR-7 – The Return for Charitable Trusts, Institutions & Political Entities

TaxationJune 24, 202511Views 0Likes 0Comments

Table of Contents Overview Who Can File ITR-7? Who Cannot Use ITR-7? Key Structure Important Considerations Why ITR-7 is Uniquely Detailed? Final Word Unlike other ITR forms that focus on individual or business income, ITR-7 is a return with a purpose. It’s specially designed for charitable and religious trusts, political parties, research institutions, and educational/medical entities…

ITR Series: Day 13: ITR-6 – The Corporate Tax Return for Companies

TaxationJune 23, 202512Views 0Likes 0Comments

Table of Contents Overview Who Can File ITR-6? Who Cannot File ITR-6? Key Structure Important Considerations Why ITR-6 is highly complex? Did you know? Final Word When it comes to companies, whether private, public, or foreign, ITR-6 is the go-to income tax return. It's comprehensive, detailed, and mandatory for most corporate entities not claiming exemption under…

ITR Series: Day 12: ITR-5 – A Comprehensive Return for Firms, LLPs, and Associations

TaxationJune 22, 20258Views 0Likes 0Comments

Table of Contents Overview Who Can File ITR-5? Who Cannot File ITR-5? Key Structure Key Points Why ITR-5 is Considered Complex? Bonus: Know the Entities Behind ITR-5 Final Word If your income tax identity isn’t that of an individual or HUF—but rather a Firm, LLP, Association of Persons (AOP), Body of Individuals (BOI), or Artificial Juridical…

ITR Series: Day 11: ITR-4 (SUGAM) – The Simplified Return for Presumptive Income

TaxationJune 21, 202510Views 0Likes 0Comments

Table of Contents Overview Who Can File ITR-4? What’s New This Year? Who Cannot Use ITR-4? Key Structure of ITR-4 The Presumptive Taxation Advantage Important Considerations Why Choose ITR-4? Final Thoughts Not every taxpayer is running a corporate empire. Some are solopreneurs, shopkeepers, professionals, freelancers, or transporters — running small yet thriving businesses with humble turnovers…

ITR Series: Day 10: ITR-3 – The Power Form for Professionals & Business Owners

TaxationJune 19, 202511Views 0Likes 0Comments

Table of Contents Overview Who Can File ITR-3? Who Cannot Use ITR-3? Key Structure Important Considerations Why ITR-3 is considered one of the Longest Forms? Final Word Overview When your income doesn't come with a payslip but with invoices, consultations, trading charts, or balance sheets, ITR-3 is your financial report card. Among all the income tax…

ITR Series: Day 9: ITR-2 – Handling Capital Gains, Rental Income & More Like a Pro!

TaxationJune 17, 20259Views 0Likes 0Comments

Table of Contents Overview Who Can File ITR-2? Who Cannot File ITR-2? ITR-1 v. ITR-2 – Quick Contrast Structure of ITR-2 How to File ITR-2? Key Points Final Thoughts Overview As we move forward in the ITR filing season, it becomes essential to understand which form applies to more complex income structures. If you're someone with…

ITR Series: Day 8: ITR-1 Sahaj – The Easiest Route to Filing Your Income Tax Return

TaxationJune 16, 202510Views 0Likes 0Comments

Table of Contents Overview What is ITR-1 (Sahaj)? Who Can File ITR-1? Update for AY 2025-26 Who Cannot Use ITR-1? Structure of ITR-1 Form How To File ITR-1? Important Considerations Final Thoughts Overview As the ITR season gains momentum, choosing the right form is more than just a formality—it’s your first step toward a smooth, error-free…

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