GST Practitioner

📢 NEW ITR FORMS OUT! | AY 2025-26 BREAKDOWN ✅

Confused about which ITR form applies to you? This updated chart gives you a snapshot of:

🔹 Applicability for ITR-1 to ITR-7
🔹 Who cannot file each ITR
🔹 Key changes for AY 2025-26:

Capital gain reporting bifurcation (pre/post 23.07.2024)

New TDS/TCS disclosure schedules

₹1 Cr asset-liability threshold in ITR-2

Presumptive income clause for cruise operators (Sec 44BBC)

No carry forward of capital loss in ITR-1 & 4

📌 Whether you're a salaried individual, business owner, investor, or trust — know your correct form before you file!

Introduction of -B Form

The Indian Government has launched the ITR-B form to simplify reporting undisclosed income from tax searches or requisitions conducted after September 1, 2024.

**Key Points:**
- Facilitates transparent reporting of undisclosed income.
- Allows categorization by asset type, such as money, jewelry, or virtual digital assets.
- Provides the option to claim TDS and TCS credits on disclosed income.
- Fully digital filing for streamlined compliance.

This initiative promotes ease of tax compliance and transparency.

🌺🌸 **चैत्र नवरात्रि और हिंदू नववर्ष की शुभकामनाएँ** 🌸🌺
आप सभी को माँ दुर्गा की कृपा से सुख, समृद्धि और शांति मिले। 🙏
नवरात्रि का यह पावन पर्व आपके जीवन में नई ऊर्जा और सकारात्मकता लेकर आए। साथ ही, हिंदू नववर्ष का यह शुभारंभ आपके जीवन में नए विचार, उमंग और तरक्की लाए।
**विक्रम संवत 2082** का यह प्रारंभ सभी के लिए मंगलमय हो।
जय माँ दुर्गा! 🌟 जय नववर्ष! 🎉