Kind attention Taxpayers!
CBDT notifies ITR-Form 5 for AY 2025-26 vide Notification No. 42/2025 dated 01.05.2025.
Key updates:
- Schedule-Capital Gain split for gains before/ after 23.07.2024 (post changes in Finance Act, 2024)
- Capital loss on share buyback allowed if corresponding dividend income is shown as income from other sources (post 01.10.2024)
- Reference of sec 44BBC (cruise biz) added
- TDS section code to be reported in Schedule-TDS