Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Govt notifies ITR forms; individuals with LTCG up to ₹1.25 lakh can file ITR 1 & 4
The Political and Business Daily
|May 01, 2025
THE government has notified the income tax return forms 1 and 4 for assessment year 2025-26, and made it easier for individuals with long term capital gains of up to Rs 1.25 lakh from listed equities to file returns.
-
The government has also made certain changes in the form with regard to deductions claimed under 80C, 80GG and other sections and has provided a drop down menu in the utility for tax filers to select from. Also, assessees will have to furnish in the ITR section-wise details with regard to TDS deductions.
Once the utility for filing TTR is made available by the I-T department, people can start filing ITR for income earned in 2024-25 fiscal. The last date for filing ITR for individuals and those who do not have to get their accounts audited is July 31.
TTR forms 1 and 4 for assessment year (AY) 2025-26 are to be filed by individuals and entities with total income of up to Rs 50 lakh a year.
This story is from the May 01, 2025 edition of The Political and Business Daily.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The Political and Business Daily
The Political and Business Daily
Lok Sabha nod to G RAM G Bill amid opposition protests
THE Lok Sabha on Thursday passed a bill that seeks to replace the 20-year-old MGNREGA with a new initiative that guarantees rural jobs for 125 days every year amid vociferous protests by the Opposition, and Union minister Shivraj Singh Chouhan asserting that the change was necessary to fix shortcomings in the scheme.
1 min
December 19, 2025
The Political and Business Daily
Undertrials facing heinous charges exempted from Centre's financial aid for poor prisoners
THE benefits of Union Home Ministry's scheme for support to poor prisoners will not be available to undertrial prisoners accused of heinous crimes such as acts of terrorism, dowry deaths, rape, human trafficking, or offences under the POCSO Act, according to revised guidelines.
1 min
December 19, 2025
The Political and Business Daily
Parliament passes nuclear energy bill
PARLIAMENT on Thursday passed the nuclear energy bill, with the Rajya Sabha giving its nod to the legislation seeking to open the tightly-controlled civil nuclear sector for private participation.
1 min
December 19, 2025
The Political and Business Daily
Most road accidents linked to 'disregard' of road safety guidelines, insists Gadkari
ROAD Transport and Highways Minister Nitin Gadkari said most road accidents are linked to behaviour of people, who often disregard safety norms, and asked Lok Sabha MPs to undertake road safety campaigns in their constituencies.
1 min
December 19, 2025
The Political and Business Daily
Guided by country's civilisational ethos: House panel on Hasina's stay in India
A parliamentary panel on external affairs has said it has noted the stay of former Bangladeshi prime minister Sheikh Hasina in India, while asserting that the country's approach in this regard is guided by its \"civilisational ethos\" and \"humanitarian tradition\" of offering refuge to individuals facing circumstances of grave distress or an existential threat.
1 min
December 19, 2025
The Political and Business Daily
SC says judges passing many orders before retirement like batter hitting sixes in last over
Former HC judges working as ad-hoc ones can preside over single-judge, division benches
1 mins
December 19, 2025
The Political and Business Daily
21st century India takes swift decisions: PM
Says delivers results in time-bound manner
2 mins
December 19, 2025
The Political and Business Daily
Global trade getting weaponised through tariff: FM Sitharaman
FINANCE MINISTER Nirmala Sitharaman on Wednesday said global trade is increasingly \"getting weaponised\" through tariffs and other measures, and India will have to negotiate its way carefully.
1 mins
December 18, 2025
The Political and Business Daily
PM, HM must resign, vendetta politics exposed: Congress after relief in National Herald case
THE Congress on Wednesday held protests across the country against what it alleged was the Modi government's “misuse” of probe agencies for vendetta politics and vowed to keep up the fight in Parliament and outside, a day after a Delhi court refused to take cognisance of the Enforcement Directorate's money laundering charge against Sonia Gandhi and Rahul Gandhi in the National Herald case.
1 mins
December 18, 2025
The Political and Business Daily
Lok Sabha approves bill to open up nuke sector for private participation
LOK SABHA on Wednesday passed the nuclear energy biil with Union minister Jitendra Singh asserting that it would help India achieve its target of 100 GW atomic energy generation by 2047.
1 min
December 18, 2025
Listen
Translate
Change font size