Mr Tax

📢 Income Tax Return Filing Started (AY 2025-26) 📢

🧾 File Your ITR Now!
✅ ITR-1 (Salaried Individuals)
✅ ITR-4 (Business/Profession under Presumptive Income Scheme)

WhatsApp -7016840804

#Incometax
#Incometaxreturn

1 year ago | [YT] | 0

Mr Tax

🚀 Exciting news! We're now onboarding individual clients for Income Tax Return (ITR) filing for FY 2024-25, specializing in Futures & Options (F&O) traders! 📈 From accounting to tax filing, we ensure compliance & maximize tax benefits. 💰 Let’s trade smart! 💼 #FuturesOptions #Trading #TaxFiling

1 year ago | [YT] | 0

Mr Tax

Capital Gain on Sale of Share in India/ Share Tax Treatment in India-

For the fiscal year 2024-25, there have been some notable changes to the taxation of capital gains on shares. Here are the key points:

1. **Holding Period**:
The holding period for determining whether a capital gain is short-term or long-term has been simplified. For listed securities, the holding period is now 12 months, and for all other assets, it is 24 months.

2. **Tax Rates**:
The tax rates for capital gains have been revised. Short-term capital gains (STCG) on listed equity shares, equity-oriented funds, and units of business trusts are now taxed at 20%.

Long-term capital gains (LTCG) on these assets are taxed at 12.5%.

3. **Exemption Limit**:
The exemption limit for LTCG on equity shares or equity-oriented funds has been increased from Rs100000 to 125000per year.

4. **Indexation Benefit**:
The indexation benefit, which was previously available for calculating LTCG on other assets, has been removed.
If you have any specific questions or need further details, feel free to ask!

1 year ago | [YT] | 0

Mr Tax

Intraday Trader Tax in India:
1.Intraday trading in share treated as speculation business
2. Profit taxable at slab rate
3. Loss only set off against speculation gain and carried forward to next 4 years

Contact us for more details.

1 year ago | [YT] | 1

Mr Tax

Forex Trader Income tax return in India:
Forex traders income taxable as Business Or Income from other sources at slab rate.
Contact us for more details.

1 year ago | [YT] | 0

Mr Tax

Crypto Traders Income Tax Return in India:

Section 115BBH of the Income Tax Act
If a taxpayer has income from the transfer of VDA, they must pay income tax at flat rate of 30%.

Deductions on transfer of VDA

The taxpayer cannot claim any expense or allowance against such income.

The taxpayer can claim the cost of acquisition i.e. purchase price as a deduction from the income.
Thus, Taxable Income = Selling Price – Purchase Price.

Taxpayer cannot set off the loss from the transfer of VDA against any other income. Further, he/she cannot carry forward the loss to future years.

For more details contact us.

1 year ago | [YT] | 0

Mr Tax

F&O trading income is typically reported under the head "Profits and Gains of Business or Profession" in the Income Tax Return (ITR).

Implications of this classification:

1. ITR Form: Traders usually need to file ITR-3 or ITR-4.

2. Deductions: All legitimate business expenses related to F&O trading can be claimed as
deductions.

3. Set-off and Carry Forward of Losses: Business losses can be set off against other heads
of income and carried forward for up to 8 assessment years.
Contact us for More Details.

1 year ago | [YT] | 0

Mr Tax

Let me break down the ITR filing due dates and required documents based on different income sources:

Due Dates:
1. For Individuals (without audit requirement):
- July 31, 2025 (for FY 2024-25)

2. For Individuals requiring audit (business income):
- October 31, 2025 (for FY 2024-25)

Documents Required:

1. For Salary Income:
- Form 16 from employer
- Form 26AS/AIS
- Salary slips
- Bank statements
- Investment proofs for tax saving (80C, 80D etc.)
- House rent receipts (if claiming HRA)
- Interest certificates for home loan

2. For Business/Professional Income:
- Books of accounts
- Bank statements
- GST returns (if applicable)
- Purchase/sale invoices
- Expense vouchers
- Tax audit report (if turnover > ₹1 crore)
- Depreciation schedule
- Balance sheet and P&L statement

3. For Capital Gains:
- Purchase/sale deeds for property
- Demat account statements
- Statement of capital gains from mutual funds/Share

4. For F&O Trading:
- Annual P&L statement from broker
- Contract notes
- Trading account statements
- Bank statements

Common Documents for All:
- PAN card copy
- Aadhaar card
- Bank statements
- Form 26AS/AIS/TIS
- Previous year's ITR (if filed)

1 year ago | [YT] | 1

Mr Tax

Income tax return filing of 31.3.2025,
Last Rate 31.7.2025
Contact us Today to book your service to avoid a last minute rush.
We have started onboarding new clients.
Contact us through WhatsApp 7016840804

1 year ago | [YT] | 1

Mr Tax

Section 87A Rebate of Income tax Act

2 years ago | [YT] | 1