E-PaperItr 3 News
Use ITR-3 for returns, if you have both income from profession and capital gain
Since you have both income from specified profession (as per Section 44ADA read with Section 44AA of the Income Tax Act, 1961) and capital gain, you will need to use ITR-3 for filing your tax return for the financial year 2017-18
3 min read30 Jul 2018No tax on property gifted by grandparent
It would be prudent to document the gift in a legal document viz. a gift deed and place it in your records
2 min read23 Jul 2018ITR filing: How to report intraday gains, losses
Gains/losses incurred on intraday trading is, however, not treated as capital gains, and needs to be disclosed in the ITR differently
1 min read18 Jul 2018Use ITR 3 form to report income taxable on presumptive basis
ITR 4 can be used by an Individual/HUF to report income on presumptive basis as provided under specified sections of the Income Tax Act
2 min read5 Jun 2018Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared