Latest news with #Rs.50
Time of India
a day ago
- Business
- Time of India
Which ITR form you should use to file your income tax return depends on your income sources and taxpayer category: Here's how to pick right
Choosing the right ITR form is the first and most crucial step, as a wrong form can lead to defective returns, penalties, or refund delays. The Income Tax Department has notified the updated forms for Assessment Year 2025-26 . Here's a quick guide to help you identify the correct form based on your income type and tax situation . ITR 1 (Sahaj) For salaried individuals with simple income YOU CAN USE THIS IF You are a resident individual (not HUF or NRI/RNOR). Your total income is less than or equal to Rs.50 lakh. Your income includes: Salary or pension. One house property (no carry-forward loss). Interest or other sources (excluding lottery/racehorses). Agricultural income up to Rs.5,000. Capital gains up to Rs.1.25 lakh from shares/mutual funds (Section 112A, new from FY 2024-25). No carry-forward loss allowed. You cannot use this if: You're a director in a company. Hold ESOP/unlisted shares. Profit from virtual digital assets (crypto). Have foreign assets or income. Own more than one house. Have business or professional income. Have capital losses to carry forward. New for this year Live Events You can now declare up to Rs.1.25 lakh in LTCG from shares or equity mutual funds in ITR 1 without needing ITR 2 or ITR 3. ITR 2 For investors, NRIs, and those with capital gains or multiple properties YOU CAN USE THIS IF You are an individual or HUF. Your income includes: Salary/pension. Income from multiple house properties. Capital gains (any amount). Foreign income or assets. Agricultural income > Rs.5,000. You're an RNOR/NRI. You're a director or hold unlisted shares. You have clubbing of income (spouse's income). You cannot use this if: You have income from business or profession. New feature: The Excel utility now supports filing revised returns under Section 139(8A). ITR 3 For business owners, freelancers, and partners in firms YOU MUST USE THIS IF You are an individual or HUF with: Income from business or profession (proprietorship). You are a partner in a firm (not an LLP). Income includes capital gains (any amount or with carry-forward loss). You hold unlisted equity shares. Income/loss from futures & options. You also earn salary, rent, or other income along with business income. Use this if you cannot file ITR 1, ITR 2, or ITR 4 due to your income mix. If you're opting out of the new tax regime, Form 10-IEA confirmation is required ITR 4 (Sugam) For small businesses and professionals under presumptive tax YOU CAN USE THIS IF You are a resident individual, HUF, or partnership firm (not LLP). Your total income is less than or equal to Rs.50 lakh. You earn from: Presumptives (Section 44AD or 44AE). Presumptiven (Section 44ADA). One house property. Salary/pension. Other sources (excluding lottery/racehorses). LTCG under Section 112A: Rs.1.25 lakh (no carry-forward loss). You cannot use this if: Income is > Rs.50 lakh. You have foreign assets or income. You are an RNOR or NRI. You're a company director or hold unlisted equity. Your business turnover is > Rs.2 crore. You have capital losses to carry forward. Freelancer tip Use ITR 4 only if you're under presumptive taxation (44ADA). Otherwise, file using ITR 3. ITR 5 For LLPs, AOPs, co-operative societies, and others You can use this if you are: A partnership firm (excluding proprietorships). An LLP. Association of Persons (AOP). Body of Individuals (BOI). Estate of a deceased or insolvent person. Business trust or investment fund. Certain cooperative societies or trusts (not filing ITR 7). You cannot use this if: You are an individual, HUF, or company. You are a trust required to file ITR 7. Note If you opt out of the new tax regime, submit Form 10-IEA Don't forget... If you've received ESOPs or hold startup shares not listed on stock exchanges, you own unlisted equity even if you haven't sold it. This disqualifies you from using ITR 1 or ITR 4. Even if your salary is under Rs.50 lakh, having capital gains above Rs. 1.25 lakh or owning more than one property requires ITR 2. Using ITR 1 here can lead to a defective return notice. Only ITR 2 or ITR 3 lets you carry forward capital losses to offset future gains. If you use ITR 1/4, these losses lapse, potentially costing you thousands in future tax savings. If you've returned to India recently after living abroad, you may be an RNOR, not a regular resident. You are an RNOR if you were an NRI in nine out of the last 10 years or stayed in India for 729 days or less in the last seven years. If you're a freelancer, small business owner, or professional with modest income, you can opt for presumptive taxation to simplify filing. Under this, you declare a fixed percentage of your total receipts as income. There's no need to maintain detailed books or get audited. Use this only if your turnover is within limits (Rs.2 crore for business, Rs.50 lakh for profession). If you're salaried and traded in F&O, you must file ITR 3. F&O income is treated as business income, not capital gains, even if it's just a side activity.
The Hindu
5 days ago
- Politics
- The Hindu
300th birth anniversary of Ahilyabai Holkar celebrated
The 300th birth anniversary of Ahilyabai Holkar, who ruled over Malwa territory within the Maratha Confederacy from 1767 to 1795 – was celebrated by the BJP Mahila Morcha here on Wednesday. The party's Mahila Morcha president C. Manjula, highlighted the enduring legacy of the 18th century ruler and described her as a role model for women's leadership and administration. Speaking at the event, Manjula praised Ahilyabai Holkar for her visionary leadership, stating that she invoked spiritual energy and administered the kingdom for 30 years with dedication and discipline and remains a role model for women in administration even in present times. Ms. Manjula spoke at length on the rejuvenation of major temples that was undertaken by Ahilyabai Holkar. ''She reinstalled and consecrated the Jyotirlinga at Somnath, Kashi, and other places, helped rebuild temples and other religious infrastructure across India'', said Ms. Manjula. Citing history, she said it was Ahilyabai Holkar who launched Maheshwari sarees which gave livelihood to artisans and weavers. Her initiatives and administrative measures ensured empowerment of women, and that is what constitutes Nari Shakti, said Ms. Manjula, who took a dig at Chief Minister Siddaramaiah's guarantee schemes. ''Ahilyabai Holkar empowered women while in the guise of helping the women, the Karnataka Government was making women dependent on freebies'', said She also touched upon the BJP's record on women's empowerment and said that Prime Minister Narendra Modi has introduced 33 per cent reservation for women in the Parliament. Besides, the women's self-help groups receive microfinance support from the Government without any collateral and women are being crowned as 'Lakhpati Didis''. The microfinance without entailing any collateral ranges from Rs.50,000 to over Rs.2 lakh and the turnover by enterprises run by women's self-help groups have crossed Rs.500 crore, said She said just as Ahilyabai Holkar should be a source of inspiration for women, the maharani of Mysuru Kempananjamani, who pledged family jewellery to fund the construction of the Krishnaraja Sagar dam, should also be eulogized. ''They are our real inspiration and role models and not those promoting reels and memes on social media'', said Ms. Manjula. Former MLA and BJP unit president L. Nagendra, among others were present.
India.com
24-05-2025
- General
- India.com
Kerala Lottery Result Today 24.05.2025 (OUT): Karunya KR 707 Saturday Lucky Draw DECLARED- Check Winning Numbers Here
photoDetails english 2905717 Updated:May 24, 2025, 03:36 PM IST Kerala Karunya KR-707 Lottery Result DECLARED 1 / 7 The Kerala State Lottery Department has declared the results of the Karunya KR-707 draw held on Saturday, May 24. The draw took place at 3 PM at Gorky Bhavan, near Bakery Junction in Thiruvananthapuram. Lucky participants stood a chance to win major prizes, including a ₹1 crore first prize, ₹30 lakh second prize, and ₹25 lakh third prize. The event was conducted in the presence of an independent panel to ensure transparency and fairness in the draw process. Kerala Lucky Draw First Prize Winner: Rs 1 Crore 2 / 7 First Prize 1 Crore Winner Number- KO 671411 Kerala Lucky Draw Second Prize Winner: Rs.50,00,000/- [50 Lakhs] 3 / 7 2nd Prize Winner Ticket No: KY 108014 (CHITTUR) Kerala Lucky Draw Consolation Prize Winners 4 / 7 Consolation Prize Winners: KN 671411 KP 671411 KR 671411 KS 671411 KT 671411 KU 671411 KV 671411 KW 671411 KX 671411 KY 671411 KZ 671411 Kerala Lucky Draw Third Prize Winner: 3rd Prize Rs.5,00,000/- [5 Lakh] 5 / 7 3rd Prize Winner Ticket No: KU 464857 (GURUVAYOOR) Kerala Lucky Draw Fourth Prize Winners: 4th Prize Rs.1,00,000/- [1 Lakh] 6 / 7 4th Prize Winners Ticket No: KN 802412 KO 419472 KP 133825 KR 644985 KS 493679 KT 375997 KU 349038 KV 621690 KW 851280 KX 309460 KY 605072 KZ 854152 Kerala Lucky Draw Fifith Prize Winners: 5th Prize Rs.5,000/- 7 / 7 1521 1588 2825 3453 3533 3573 3588 4329 4538 6380 6421 6457 6714 7162 8769 8876 8890 9765
Hans India
23-05-2025
- Politics
- Hans India
Sullurupeta joins Amrit Bharat league with upgraded rly station
Tirupati: In a significant step towards enhancing passenger amenities and infrastructure, the modernised Sullurupeta railway station in Andhra Pradesh was formally inaugurated on Thursday by Union Minister of State for Rural Development and Communications Dr Pemmasani Chandrasekhar. The inauguration was held in the presence of local MLA N Vijayasree as part of the nationwide Amrit Bharat Station redevelopment programme, which was virtually launched by Prime Minister Narendra Modi. Ahead of the formal inauguration, Dr Chandrasekhar, along with MLA Vijayasree, inspected the upgraded station facilities and interacted with locals, explaining the newly developed amenities and the vision behind the transformation. Addressing the gathering, the Minister highlighted the stark contrast between the railway stations of the British era—mere markings on a map—and the modern-day hubs of connectivity and convenience. Recalling his own experiences of train travel in his childhood, Dr Chandrasekhar noted the lack of basic facilities like proper seating and usable toilets in earlier times. He said that the Amrit Bharat Station initiative, spearheaded by Prime Minister Modi, aims to give passengers an experience akin to modern bus stands and airports, thereby symbolising the progress of India towards becoming a developed nation. He also credited Modi's visionary leadership for launching semi-high-speed Vande Bharat trains and extending the Amrit Bharat Station Scheme to over 1,300 railway stations across the country. The redevelopment of Sullurupeta station alone has been completed at a cost of approximately Rs.14.5 crore. Looking ahead, Dr Chandrasekhar revealed that the central government plans to allocate a railway budget of Rs.50,000 crore for Andhra Pradesh over the next five years. He attributed this progress to the leadership of Chief Minister N Chandrababu Naidu and the collaborative efforts of the BJP and TDP in striving to bring a 'double-engine sarkar' to the state. The event was attended by several dignitaries, including District Collector Dr S Venkateswar, Chennai Divisional Railway Manager B Vishwanath Eerya, BJP State Vice President Vakati Narayana Reddy, TDP District President G Narasimha Yadav, and Sullurpet RDO Kiranmayi, among others.
Hans India
17-05-2025
- Health
- Hans India
Sandhya Rani inaugurates PHC
Thonam (ParvathipuramManyam): Minister of Women and Child Welfare and Tribal Welfare Gummidi Sandhya Rani has inaugurated Primary Health Centre (PHC) at Thonam of Salurumandal on Friday. The PHC has been constructed with a cost of Rs.1.82 crores. The PHC caters the needs of tribal population belong to adjacent mandals. The PHC is equipped with latest machinery which helps to provide good health services and helpful to the public not go to the Community Health Centre of Saluru. The Minister said that an additional building would come up with a cost of Rs.50 lakhs which could be utilized as birth waiting hall after delivery. The Minister stated that the Government is committed to provide good medical facilities to the triabals. Due to the efforts taken in the ParvathipuramManyam District, the district stood in the best position in the state in normal deliveries and suggested the medical officers to continue the effort. The minister also inaugurated Ambulance and released posters to create awareness among the public on health concepts.
