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How to Show Capital Gain on Shares and Equity Mutual Funds in ITR

When one sells Shares and/or Equity Mutual Funds one has Capital Gain on the sale of Equity.  You cannot file the Capital Gain in ITR1. The article discusses the procedure to report Capital Gain on Sale of Shares and Equity Mutual Funds in Income Tax Return New Portal...

How to fill Form 67 to claim foreign tax paid on New Income Tax Portal

if the taxpayer is a resident of India, and he has paid taxes outside India, he can claim a credit of such foreign taxes paid against his tax payable in India. An individual taxpayer shall furnish Form 67 in order to claim Foreign Tax Credit. This article explains how...

New Income Tax Website : Features, Benefits, Look and Feel

The Income Tax Department launched its new e-filing website  www.incometax.gov.in on 7 June 2021 to provide a modern, seamless experience to taxpayers. In this article, we explore the new Income Tax website for electronic filing of Income Tax Returns in detail. You...

How to File ITR for FY 2020-2021 or AY 2021-2022

What do you need to know to File ITR for FY 2020-2021 or AY 2021-2022? This year you need to choose Old or New Tax Regime while filing ITR (Income Tax Return).  There is no Excel or Java offline Utility for filing ITR but a new offline utility based on JSON for ITR1...