Online Income Tax Filing & Book Keeping

Annual filing extension till December 31, 2025 without payment of additional fees.

EPF SEPTEMBER RETURN UPDATE: Employers now have an extra week to file EPF returns for September 2025, with the deadline extended to October 22

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*BREAKING GST PORTAL:*

GSTR-9 & GSTR-9C has been enabled on GST Portal

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No Change in Auto-Population of ITC from GSTR-2B to GSTR-3B
GSTN has clarified that the existing process of auto-populating Input Tax Credit (ITC) from GSTR-2B into GSTR-3B will continue as before.

🗓️ GSTR-2B Generation Unchanged
GSTR-2B will continue to be generated automatically on the 14th of every month, based on suppliers’ filings in GSTR-1, GSTR-5, and GSTR-6, without any manual intervention by taxpayers.

🔹 No manual action is needed.
🔹 The current system remains unchanged.

Finally tax audit date extended from 30th September to 31st October 2025

Taxpayers must remember that filing income tax returns (ITR) 2025 after the official ITR filing deadline September 15 will attract a penalty. If total income exceeds Rs 5 lakh, the penalty is Rs 5,000. For income below Rs 5 lakh, the late fee is Rs 1,000.

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That’s excellent news! 🎉

The Income Tax Department () starting same-day ITR processing is a big boost for taxpayers and professionals. It means faster acknowledgments, quicker refunds, and smoother compliance.

✅ ITR-1 & ITR-4 filing already started.
✅ Some returns filed today already processed today itself.
💡 ITR-2 & ITR-3 expected to be enabled within 3-4 days, so full filing season can pick up soon.

LTCG Tax Rates for Residents and Non-Residents in India

Residents
Equity Shares and Equity-Oriented Mutual Funds: LTCG exceeding ₹1.25 lakh is taxed at 12.5% without indexation for sales made on or after July 23, 2024.

Real Estate: LTCG is taxed at 20% with indexation for sales before July 23, 2024. For sales on or after July 23, 2024, the rate is 12.5% without indexation, with an option to choose between the two rates for properties acquired before July 23, 2024.

Other Assets: Generally taxed at 12.5% without indexation for assets held for more than the specified period (e.g., 24 months for debt instruments).

Non-Residents (NRIs)
General LTCG: Taxed at 20% with indexation benefits.

Specific Assets: For property, LTCG is taxed at 20% with indexation or 12.5% without indexation for properties acquired before July 23, 2024.

TDS: A withholding tax (TDS) of 20% is applicable on LTCG for NRI

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The annual limit for TDS on rent has been increased from ₹2.40 lakh to ₹6 lakh.

ITR-U: Now Allowed for 48 Months with New Tax Rates

CBDT Extends Deadline for Furnishing Belated / Revised ITR for AY 2024-25 to 15th January 2025