TaxTMI 
TaxTMI 
Income-tax (twelfth Amendment) Rules, 2025 - Amendment of Rule 12, Return of income and Rule 11B, Conditions for allowance for deduction under section 80GG and Income Tax Return forms ITR-1 and ITR-4 replaced
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....he words "does not have any loss under the head, "the words "does not have any loss under the head; or" shall be substituted. (iii) in clause (a), after sub-clause (iii), the following sub-clause shall be inserted, namely, -- "(iv) "Capital gains", where assessee has only long-term capital gains under section 112A not exceeding one lakh twenty-five thousand rupees and does not have any brought forward loss or loss to be carried forward under the head," (iv) in clause (ca), for the words, figures and letters "in the case of a person being an individual or a Hindu undivided family, who is a resident other than not ordinarily resident, or a firm, other than limited liability partnership firm, which is a resident deriving income under the head "Profits or gains of business or profession" and such income is computed in accordance with special provisions referred to in section 44AD, section 44ADA and section 44AE of the Act for computation of such income, be in Form SUGAM (ITR-4) and be verified in the manner indicated therein:", the words, figures and letters "in the case of a person being an individual or a Hindu undivided family, who is a resident other than....
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....Date of (A5) Aadhaar Number (12 digits) Name Birth DD MMYY YY (A1 (A2a) Middle ) PA N Name (A3) Last name (A9)Name of Premises/Building/Village (A10) Road/Street/Post Office Area/Locality (A11) Town/City/District (A13) Country Address: (A8) Flat/Door/Block No. (A6) Mobile No. (A7) Email Address (A12) State (A14) PIN code C 139(1)-On or before due date, [139(4)-Belated, [139(5)- Revised, [119(2)(b)- After Condonation of delay (A15) Filed u/s (Tick) [Please see instruction] (A17) Nature of employment- Central Govt. State Govt. Public Sector Undertaking [ Pensioners-CG Pensioners-SG [ 139(9), 142(1), (A16) Or Filed in response to notice u/s 153C 148, Pensioners-PSU Pensioners- Others Others Not Applicable (e.g. Family Pension etc.) (A18) If revised/defective, then enter Receipt No. and Date of filing original return (DD/MM/YYYY) / / (A19) If filed in response to notice u/s 139(9)/142(1)/148/153C or order u/s 119(2)(b)- enter Unique Number/Document Identification Number (DIN) & Date of such Notice or Order - No (A20) Do you wish to exercise the option u/s 115BAC(6....
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....ual Value (i - ii) iv 30% of Annual Value iv V Interest payable on borrowed capital (Details are to be filled in the drop down to be provided in e-filing utility) V vi Arrears/Unrealised rent received during the year less 30% vi vii Income chargeable under the head 'House Property' (iii - iv - v) + vi (If loss, put the figure in negative) Note: - Maximum loss from House Property that can be set-off is INR 2, 00,000. To avail the benefit of carry forward and set of loss, please use ITR -2 B2 B3 Income from Other Sources (drop down like interest from saving account, deposit etc, to be provided in e-filing utility specifying nature of income and in case of dividend income and Income from retirement benefit account maintained in a notified country u/s 89A, please mention quarterly breakup for allowing applicable relief from section 234C) B3 Less: Deduction u/s 57(iia) (in case of family pension only) Less: Income claimed for relief from taxation u/s 89A B4 Gross Total Income (B1+B2+B3) (If loss, put the figure in negative) Note: To avail the benefit of carry forward and set of loss, please use ITR -2 B4 PART C-DEDUCTIONS AND TAXABLE TOTAL INCOME (Refer instr....
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.... per sec 112A PART D - COMPUTATION OF TAX PAYABLE D1 Tax payable on total income D2 Rebate u/s 87A D3 Tax after Rebate D4 Health and education Cess @ 4% on D3 D5 Total Tax and Cess D6 Relief u/s 89 (Please ensure to submit Form 10E to claim this relief) D7 Interest u/s 234A D8 Interest u/s 234B D9 Interest u/s 234C D10 Fee u/s 234F D11 Total Tax, Fee and Interest (D5+D7+D8+D9+D10 - D6) D12 Total Taxes Paid D13 Amount payable (D11-D12) (if D11>D12) D14 Refund (D12-D11) (if D12>D11) PART E - OTHER INFORMATION Details of all Bank Accounts held in India at any time during the previous year (excluding dormant accounts) Type of account (Dropdown to be provided by E-filing utility) IFS Code of the Bank Name of the Bank Account Number Select Account for Refund Credit SI. I 1. All bank accounts held at any time are to be reported, except dormant A/c. 2. Minimum one account should be selected for refund credit. 3. In case multiple accounts are selected, refund will be credited to one of the validated accounts decided by CPC after processing the return. Schedule-IT Details of Advance Tax and Self-Assessment Tax payments B....
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....t/Post Office (A9) Area/Locality (A10) Town/City/District (A11) State (A12) Country (A13) PIN Code/ZIP Code (A14) Aadhaar Number (12 digits) (A15) Status Individual HUF Firm (other than LLP) (A16) Residential/Office Phone Number with STD code/ Mobile No.1 (A17) Mobile No. 2 (A18) Email Address-1 (self) Email Address -2 (A19) Nature of employment - Central Govt. State Govt. Public Sector Undertaking Pensioners-CG [ Pensioners-SG Pensioners-PSU Pensioners- Others Others Not Applicable (e.g. Family Pension etc.) (A20)(a) Filed u/s (Tick) [Please see instruction]- 139(1)-On or before due date, 139(4)-After due date, 139(5)- Revised Return, [ 119(2)(b)- After Condonation of delay (b) Or Filed in response to notice u/s 139(9) 142(1) [ 148 153C (A21)If revised/defective then enter Receipt No. and Date of filing of original return (DD/MM/YYYY) / / (A22) If filed in response to notice u/s 139(9) /142(1)/148/153C or order u/s 119(2)(b)- enter Unique / Number/ Document Identification Number (DIN) & Date of such Notice or Order (A19) Nature of employment - Central Govt. State Govt. Public Sector Undertaking Pensioners-CG [ Pensioners-SG ....
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....er conditions prescribed under clause (iv) of seventh proviso to section 139(1) (If yes, please select the relevant condition from the drop-down menu) (Tick) Yes No (A25) Whether this return is being filed by a representative assessee? (Tick) Yes No If yes, please furnish following information - (1) |Name of the representative (2) Capacity of the representative (3) Address of the representative (4) Permanent Account Number (PAN)/ Aadhaar No. of the representative PART B GROSS TOTAL INCOME Whole- Rupee(Rs.) only B1 Income from Business & Profession (NOTE-Enter value from E8 of Schedule BP) B1 B2 i Gross Salary (ia+ib+ic+id+ie) i SALARY / PENSION a Salary as per section 17(1) ia b Value of perquisites as per section 17(2) ib c Profit in lieu of salary as per section 17(3) ic d Income from retirement benefit account maintained in a notified country u/s 89A (country drop down will be provided in e-filing utility) id e Income from retirement benefit account maintained in a country other than notified country u/s 89A ie il Less allowances to the extent exempt u/s 10 (drop down to be provided in e-filing utility) [Ensure that it is include....
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.... provided in e-filing utility) C5 80CCD(2) (Details are to be filled in the drop down to be provided in e-filing utility) C6 80D (Details to be filled in drop down to be provided in e- filing utility) C7 80DD (Details to be filled in drop down to be provided in e- filing utility) C8 80DDB (Details to be filled in drop down to be provided in e- filing utility) C9 80E (Details are to be filled in the drop down to be provided in e-filing utility) C10 80EE Details are to be filled in the drop down to be provided in e-filing utility) C11 80EEA Details are to be filled in the drop down to be provided in e-filing utility) C12 80EEB (Details are to be filled in the drop down to be provided in e-filing utility) C13 80G (Details to be filled in drop down to be provided in e-filing utility) C14 80GG (Details are to be filled in the drop down to be provided in e-filing utility) C15 80GGC (Details are to be filled in the drop down to be provided in e-filing utility) C16 80TTA C17 80TTB C18 80U (Details to be filled in the drop down to be provided in e-filing utility) C18a 80CCH C18b Any Other deduction as per the e-filingprovided utility (Details are to be in e-filing fill....
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.... refund will be credited to one of the validated accounts decided by CPC after processing the return. SCHEDULE BP - DETAILS OF INCOME FROM BUSINESS OR PROFESSION COMPUTATION OF PRESUMPTIVE BUSINESS INCOME UNDER SECTION 44AD S. No. Name of Business Business code Description (i) E1 Gross Turnover or Gross Receipts (E1 limited to Rs.2 Crores, however if [E1b+ E1c] is less than or equal to 5% of El then the limit under El is extended to Rs.3 Crores.) a Through a/c payee cheque or a/c payee bank draft or bank electronic clearing system received or prescribed electronic modes received before specified date E1a b Receipts in Cash E1b c Any mode other than a and b E1c E2 Presumptive Income under section 44AD a 6% of Ela or the amount claimed to have been earned, whichever is higher E2a b 8% of (E1b+E1c) or the amount claimed to have been earned, whichever is higher E2b c Total (a + b) E2c NOTE-If Income is less than the above percentage of Gross Receipts, it is mandatory to have a tax audit under 44AB & other ITR as applicable has to be filed COMPUTATION OF PRESUMPTIVE INCOME FROM PROFESSIONS UNDER SECTION 44ADA S. Name of Business Business c....
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....13 E14 Advances E14 E15 Sundry creditors E15 E16 Other liabilities E16 E17 Total capital and liabilities (E11+E12+E13+E14+E15+E16) E17 E18 Fixed assets E18 E19 Inventories E19 E20 Sundry debtors E20 E21 Balance with banks E21 E22 Cash-in-hand E22 E23 Loans and advances E23 E24 Other assets E24 E25 Total assets (E18+E19+E20+E21+E22+E23+E24) E25 NOTE Please refer to instructions for filling out this schedule (E15, E19, E20, E22 are mandatory and others if available) 27 [à¤à¤¾à¤— II-खणà¥à¤¡ 3(i)] à¤à¤¾à¤°à¤¤ का राजपतà¥à¤° : असाधारण SCHEDULE IT DETAILS OF ADVANCE TAX AND SELF ASSESSMENT TAX PAYMENTS BSR Code Date of Deposit (DD/MM/YYYY) Challan No. Tax paid Col (1) Col (2) Col (3) Col (4) R1 R2 R3 NOTE Enter the totals of Advance tax and Self-Assessment tax in D13 & D14 Schedule TCS Details of Tax Collected at Source [As per Form 27D issued by the Collector(s)] SI No Tax Collection Account Number of the Collector Name of the Collector Details of amount paid as mentioned in Form 26AS Tax Colle....