NARESH KANSAL & ASSOCIATES, Delhi (2026)

Name: NARESH KANSAL & ASSOCIATES
Address: Delhi, IN
Telephone: 9873192124
Price range: ££

31/08/2026

# # Intraday Trading Income Tax: Business Income Explained

Intraday trading is popular among stock market participants, but the tax treatment of intraday transactions is different from that of long-term investments. Understanding the nature of trading income, maintaining proper records and selecting the appropriate ITR are important parts of tax compliance.

# # # 🔹 What Is Intraday Trading?

Intraday trading generally refers to buying and selling shares within the same trading day without taking delivery of the shares.

For tax purposes, eligible intraday equity trading is generally treated as **speculative business activity** under the applicable income-tax provisions.

# # # 🔹 How Is Intraday Profit or Loss Calculated?

The taxable result should be determined after properly considering:

• Purchase and sale values
• Brokerage
• Exchange charges
• Transaction-related expenses
• Other eligible expenses, wherever applicable

A proper broker statement and contract notes can make the calculation and reconciliation process easier.

# # # 🔹 Intraday Trading Loss

If an eligible intraday transaction results in a loss, it should be properly recorded and reported in the Income Tax Return.

Tax treatment of speculative losses, including set-off and carry-forward, is subject to specific provisions and conditions.

Therefore, traders should not simply ignore losses while filing their return.

# # # 🔹 Which ITR May Be Relevant?

Since intraday trading may be treated as business income, the appropriate ITR form should be selected based on the taxpayer's complete income profile.

Taxpayers should consider:

• Nature of trading activity
• Other sources of income
• Business/professional income
• Capital gains
• Applicable tax provisions

# # # 🔹 Important Documents for Intraday Traders

Keep the following records ready:

• Broker ledger
• Contract notes
• Profit & loss statement
• Trading turnover details
• Bank statements
• Demat/trading account statements
• AIS and Form 26AS
• Expense records

# # # 🔹 What Is Trading Turnover?

For tax purposes, turnover calculation for trading activities is not necessarily the same as the total value of all buy and sell transactions.

The applicable method of calculating turnover depends on the nature of the trading activity and relevant tax provisions. Correct turnover computation is particularly important when considering audit or presumptive-taxation requirements.

# # # 🔹 Common Mistakes to Avoid

• Treating intraday trading as investment income without considering the facts
• Calculating turnover incorrectly
• Ignoring trading losses
• Not maintaining broker records
• Failing to reconcile AIS
• Selecting an inappropriate ITR form
• Filing without reviewing the complete trading statement

# # # 🔹 Professional Tax Guidance

Intraday trading taxation requires proper classification, turnover computation and reporting. Traders should maintain complete records and review their tax position before filing the return.

# # # 👨‍💼 CA Naresh Kansal

📞 **9873192124**

**Income Tax | GST | Tax Advisory | Financial Advisory**

For assistance with **Intraday Trading Taxation, Trading Turnover, F&O Taxation, ITR Filing, Loss Reporting and Tax Compliance**, contact CA Naresh Kansal.

31/08/2026

# # Share Market Profit & Loss: How to Report in ITR

Investing in the share market has become increasingly common, but many investors are unsure about how their **share market profits, losses, dividends and other transactions** should be considered while filing an Income Tax Return.

The correct tax treatment depends on the nature of the transaction and the taxpayer's circumstances. Therefore, proper classification and documentation are important.

# # # 🔹 What Share Market Income Can You Have?

A taxpayer may receive different types of income from the share market:

• Capital gains from sale of shares
• Dividend income
• Profit or loss from eligible trading activities
• Income from other investments
• Interest or other related income

# # # 🔹 Capital Gains on Shares

Where shares are held as investments and subsequently sold, the resulting gain or loss may generally fall under the capital-gains provisions, subject to the applicable rules and facts of the transaction.

Taxpayers should maintain:

• Purchase details
• Sale details
• Date of transactions
• Cost of acquisition
• Brokerage and eligible expenses
• Contract notes and broker statements

# # # 🔹 Share Trading and Business Income

Where transactions are treated as business activity, the tax treatment can be different from investment transactions.

This is particularly important for taxpayers involved in:

• Intraday trading
• Futures & Options trading
• Regular trading activity

The nature of income should be determined correctly before filing the ITR.

# # # 🔹 Don't Forget Dividend Income

Dividend income should also be reviewed while preparing the return.

Taxpayers should compare:

• Dividend statements
• Bank statements
• AIS
• Form 26AS
• Broker/investment records

# # # 🔹 Share Market Losses

Losses should not simply be ignored. Depending on the nature of the loss and applicable provisions, reporting the loss correctly may be important for potential set-off or carry-forward benefits.

# # # 🔹 Important Documents Before ITR Filing

Keep these records ready:

• Broker ledger
• Contract notes
• Capital-gain statement
• Demat statement
• Bank statement
• AIS
• Form 26AS
• Dividend statements

# # # 🔹 Common Mistakes to Avoid

• Treating every share transaction as business income
• Ignoring dividend income
• Incorrectly calculating capital gains
• Not reconciling broker statements
• Forgetting to report eligible losses
• Filing without checking AIS
• Selecting an inappropriate ITR form

# # # 🔹 Professional Tax Guidance

Share market taxation can become complicated when a taxpayer has a combination of investments, trading activity, dividends and capital gains.

Proper classification, reconciliation and documentation can help ensure more accurate ITR reporting.

# # # 👨‍💼 CA Naresh Kansal

📞 **9873192124**

**Income Tax | GST | Tax Advisory | Financial Advisory**

For assistance with **Share Market Taxation, Capital Gains, Trading Income, F&O Taxation, ITR Filing and Tax Planning**, contact CA Naresh Kansal.

29/08/2026

# # Cash Transactions and Income Tax: Important Compliance Rules Every Taxpayer Should Know

Cash transactions remain a common part of business and personal finances. However, taxpayers should understand that large or frequent cash transactions may attract greater attention from a compliance perspective. Maintaining proper records and ensuring accurate reporting of income is essential for smooth tax compliance.

# # # 🔹 Why Are Cash Transactions Important?

Cash transactions can be linked to:

• Business receipts
• Business expenses
• Cash sales
• Cash purchases
• Property-related transactions
• Loans and advances
• Personal financial activities
• Other day-to-day transactions

Proper documentation helps establish the nature and source of transactions.

# # # 🔹 What Should Taxpayers Monitor?

Taxpayers should regularly review:

• Cash deposits in bank accounts
• Cash receipts from customers
• Cash payments to vendors
• Cash withdrawals from business accounts
• Loans received or repaid in cash
• Property transactions involving cash components
• High-value cash movements

# # # 🔹 Common Compliance Mistakes

Many taxpayers face issues because they:

• Do not maintain cash records properly
• Fail to reconcile cash deposits with income records
• Ignore supporting documentation
• Report incomplete business receipts
• Mix personal and business cash transactions
• Maintain inaccurate cash books

# # # 🔹 Importance of Proper Documentation

Taxpayers should preserve:

• Cash books
• Sale invoices
• Purchase bills
• Payment receipts
• Bank deposit slips
• Business records
• Supporting agreements and documents

Proper records can help explain the source and purpose of transactions.

# # # 🔹 Reconciliation Is Essential

Before filing an Income Tax Return, taxpayers should compare:

• Cash records
• Bank statements
• AIS information
• Business accounts
• Reported income

This helps identify discrepancies and improve reporting accuracy.

# # # 🔹 Benefits of Maintaining Accurate Records

Good record keeping can help:

• Improve tax compliance
• Support accurate ITR filing
• Reduce reporting errors
• Improve financial transparency
• Simplify business accounting
• Facilitate responses to tax queries

# # # 🔹 Best Practices for Taxpayers

• Record transactions promptly
• Maintain supporting documents
• Separate personal and business finances
• Reconcile records regularly
• Review income disclosures before filing
• Seek professional guidance when required

# # # 🔹 Professional Tax Guidance

Cash transactions are not prohibited, but they should always be properly documented and accurately reflected in financial records. Maintaining transparency and consistency can help taxpayers meet their compliance obligations more effectively.

# # # 👨‍💼 CA Naresh Kansal

📞 **9873192124**

**Income Tax | GST | Tax Advisory | Financial Advisory**

For assistance with **Cash Transaction Compliance, Income Tax Planning, ITR Filing, Business Accounting and Tax Advisory Services**, contact CA Naresh Kansal.

28/08/2026

# # Bank Transactions and Income Tax Scrutiny: What Taxpayers Should Know

Bank transactions play an important role in income tax compliance. The Income Tax Department may compare information available from various sources with the details reported in a taxpayer's Income Tax Return. Therefore, maintaining accurate financial records and ensuring consistency between bank transactions and reported income is essential.

# # # 🔹 Why Are Bank Transactions Important?

Bank accounts often reflect a taxpayer's financial activities, including:

• Salary receipts
• Business receipts
• Professional income
• Interest income
• Investment transactions
• Loan transactions
• Property-related transactions
• Other financial receipts and payments

Proper documentation helps taxpayers explain the nature and source of transactions whenever required.

# # # 🔹 Transactions That Require Careful Review

Taxpayers should regularly review:

• Large cash deposits
• High-value transfers
• Business receipts
• Loan credits and repayments
• Interest credited by banks
• Investment-related transactions
• Property sale or purchase transactions
• Foreign remittances, wherever applicable

# # # 🔹 Common Reasons for Mismatches

Differences can arise when:

• Income is not fully reported in the ITR
• Interest income is overlooked
• Capital gains are not disclosed correctly
• Business receipts are not properly recorded
• Bank transactions do not match accounting records
• Financial records are incomplete

# # # 🔹 Importance of Reconciliation

Before filing an Income Tax Return, taxpayers should compare:

• Bank statements
• AIS (Annual Information Statement)
• Form 26AS
• Business records
• Investment statements
• Income reported in the ITR

This process helps identify discrepancies before filing.

# # # 🔹 Common Mistakes to Avoid

• Ignoring interest income from savings accounts
• Failing to maintain supporting documents
• Not reconciling bank statements
• Reporting incorrect business receipts
• Forgetting investment-related income
• Filing returns without reviewing financial records

# # # 🔹 Benefits of Proper Record Keeping

Maintaining organised financial records can help:

• Improve tax compliance
• Support accurate ITR filing
• Reduce reporting errors
• Simplify tax planning
• Strengthen financial transparency
• Facilitate responses to tax queries

# # # 🔹 Best Practices for Taxpayers

• Review bank statements periodically
• Maintain transaction records
• Preserve supporting documents
• Reconcile income before filing returns
• Verify tax credits and deductions
• Seek professional advice when necessary

# # # 🔹 Professional Tax Guidance

Bank transactions alone do not determine tax liability, but they form an important part of the taxpayer's financial profile. Proper reconciliation and accurate reporting can help maintain compliance and avoid unnecessary issues.

# # # 👨‍💼 CA Naresh Kansal

📞 **9873192124**

**Income Tax | GST | Tax Advisory | Financial Advisory**

For assistance with **Income Tax Compliance, Bank Transaction Reconciliation, AIS Review, ITR Filing and Tax Planning**, contact CA Naresh Kansal.

26/08/2026

# # High-Value Transactions Reported to the Income Tax Department: What Every Taxpayer Should Know

Many taxpayers are unaware that certain financial transactions may be reported to the Income Tax Department by banks, financial institutions and other reporting entities. These transactions can form part of the information available for tax compliance and return verification.

Therefore, it is important for taxpayers to ensure that their financial records and Income Tax Returns accurately reflect their income and transactions.

# # # 🔹 What Are High-Value Transactions?

High-value transactions generally refer to significant financial activities that may be reported through prescribed reporting mechanisms.

Such transactions may relate to:

• Large cash deposits
• Significant bank transactions
• Property purchases or sales
• Investments in shares and mutual funds
• Fixed deposits
• Credit card payments
• Foreign remittances
• Other specified financial transactions

# # # 🔹 Why Should Taxpayers Be Aware?

Taxpayers should ensure that:

• Income sources are properly reported
• Financial transactions are supported by records
• Tax returns are filed accurately
• Tax credits are reconciled properly
• Financial information is consistent across records

# # # 🔹 Transactions That Often Require Careful Review

Before filing an ITR, taxpayers should review:

• Bank account transactions
• Investment transactions
• Property-related transactions
• Capital gains records
• Foreign transactions, wherever applicable
• Business receipts and expenses
• Loan-related transactions

# # # 🔹 Common Mistakes Taxpayers Make

• Ignoring AIS information
• Forgetting to report interest income
• Not reporting capital gains correctly
• Mismatch between bank records and ITR
• Missing investment income
• Incomplete financial disclosures
• Poor record maintenance

# # # 🔹 Importance of AIS and Form 26AS

Taxpayers should carefully review:

• AIS (Annual Information Statement)
• Form 26AS
• TIS (Taxpayer Information Summary)
• Bank statements
• Investment statements

Proper reconciliation can help identify discrepancies before filing a return.

# # # 🔹 Benefits of Maintaining Proper Records

Good financial record-keeping can help:

• Improve tax compliance
• Support accurate ITR filing
• Reduce reporting errors
• Strengthen financial transparency
• Facilitate faster response to tax queries

# # # 🔹 Best Practices for Taxpayers

• Maintain complete financial records
• Keep supporting documents safely
• Reconcile AIS before filing
• Review all sources of income
• Verify tax credits and payments
• Seek professional guidance when required

# # # 🔹 Professional Tax Guidance

High-value financial transactions are not necessarily a problem. However, taxpayers should ensure that their financial records, income disclosures and tax returns remain accurate and consistent.

Proper tax planning and compliance can help avoid unnecessary complications and improve overall financial management.

# # # 👨‍💼 CA Naresh Kansal

📞 **9873192124**

**Income Tax | GST | Tax Advisory | Financial Advisory**

For assistance with **High-Value Transaction Reporting, AIS Review, Capital Gains Reporting, ITR Filing and Tax Compliance**, contact CA Naresh Kansal.

25/08/2026

# # Tax Refund Delayed? Common Reasons and What to Do

Many taxpayers eagerly wait for their Income Tax Refund after filing their return. While refunds are processed in many cases without issues, delays can sometimes occur due to incomplete information, mismatches in records or return-processing requirements.

Understanding the common reasons behind refund delays can help taxpayers review their returns and maintain better tax compliance.

# # # 🔹 What Is an Income Tax Refund?

An Income Tax Refund generally arises when the tax paid by a taxpayer exceeds the actual tax liability calculated during return filing.

Refunds may result from:

• Excess TDS deducted by employers or banks
• Advance tax paid in excess
• Self-assessment tax adjustments
• Eligible deductions and exemptions claimed correctly
• Tax credits available in records

# # # 🔹 Common Reasons for Refund Delays

Taxpayers may experience delays because of:

• Incorrect bank account details
• Bank account validation issues
• Mismatch in PAN information
• Errors in ITR filing
• Verification-related issues
• Mismatch between ITR and tax records
• Incorrect reporting of income
• Pending tax compliance matters

# # # 🔹 Important Details to Verify

Before expecting a refund, taxpayers should review:

• PAN details
• Bank account information
• ITR acknowledgement
• AIS information
• Form 26AS details
• TDS credits
• Tax payment records
• Personal information in the return

# # # 🔹 Why Reconciliation Is Important?

Proper reconciliation helps identify:

• Missing TDS credits
• Incorrect income reporting
• Duplicate entries
• Data mismatches
• Tax calculation errors

A small mistake in reporting can sometimes affect refund processing.

# # # 🔹 Common Mistakes Taxpayers Make

• Filing the wrong ITR form
• Ignoring AIS information
• Entering incorrect bank details
• Not verifying the return properly
• Missing income from interest or dividends
• Failing to reconcile Form 26AS with the return

# # # 🔹 How Better Tax Compliance Helps

Maintaining proper records can help:

• Improve return accuracy
• Reduce processing issues
• Minimise reporting errors
• Support faster resolution of discrepancies
• Strengthen overall tax compliance

# # # 🔹 Professional Tax Guidance

A delayed refund does not always indicate a major problem. However, taxpayers should carefully review their records and ensure that all information reported in the return is accurate and consistent.

Professional review of the return and supporting documents can help identify potential issues and improve compliance.

# # # 👨‍💼 CA Naresh Kansal

📞 **9873192124**

**Income Tax | GST | Tax Advisory | Financial Advisory**

For assistance with **Income Tax Refunds, ITR Filing, AIS Reconciliation, TDS Verification and Tax Compliance**, contact CA Naresh Kansal.

24/08/2026

# # AIS Foreign Asset Information: What Taxpayers Should Check

The **Annual Information Statement (AIS)** has become an important tool for taxpayers while preparing their Income Tax Returns. In recent years, taxpayers with foreign assets, overseas investments or foreign-source income have become increasingly aware of the importance of reviewing AIS information carefully before filing their returns.

# # # 🔹 What Is AIS?

AIS is a comprehensive statement that may contain information relating to:

• Interest income
• Dividend income
• Securities transactions
• Mutual fund transactions
• Property transactions
• Tax deducted at source (TDS)
• Tax collected at source (TCS)
• Other financial information reported by various entities

# # # 🔹 Why Should Taxpayers Review Foreign Asset Information?

Taxpayers who have foreign investments, overseas bank accounts or foreign-source income should carefully review their records before filing an Income Tax Return.

Important areas to verify include:

• Foreign bank accounts
• Overseas investments
• Foreign shares and securities
• Foreign mutual funds
• Foreign income received during the year
• Other reportable foreign financial interests, wherever applicable

# # # 🔹 Common Mistakes Taxpayers Make

Many taxpayers focus only on domestic income and forget to review:

• Foreign interest income
• Overseas dividend income
• Foreign investment disclosures
• Overseas financial accounts
• Currency conversion calculations
• Reporting requirements in the applicable ITR schedules

# # # 🔹 Why Reconciliation Matters

Before filing an ITR, taxpayers should reconcile:

• AIS information
• Form 26AS
• Bank statements
• Investment statements
• Foreign asset records
• Income records from all sources

Proper reconciliation helps identify missing information and reporting differences.

# # # 🔹 Documents to Keep Ready

For accurate reporting, taxpayers should maintain:

• Foreign bank statements
• Investment statements
• Dividend records
• Transaction confirmations
• Tax-related documents
• Supporting financial records

# # # 🔹 Benefits of Accurate Disclosure

Proper disclosure can help:

• Improve tax compliance
• Maintain transparency
• Reduce reporting errors
• Support accurate ITR filing
• Ensure consistency across tax records

# # # 🔹 Professional Tax Guidance

Foreign asset reporting can involve multiple disclosures and documentation requirements. Taxpayers should carefully review their records and understand the applicable reporting obligations before filing their returns.

Professional guidance can help ensure accurate reporting and better compliance.

# # # 👨‍💼 CA Naresh Kansal

📞 **9873192124**

**Income Tax | GST | Tax Advisory | Financial Advisory**

For assistance with **AIS Review, Foreign Asset Reporting, ITR Filing, International Tax Compliance and Tax Advisory Services**, contact CA Naresh Kansal.

23/08/2026

# # Income-tax Rules 2026: Key Changes Explained

Tax compliance is becoming increasingly digital and information-driven. With the **Income-tax Rules, 2026** and the transition toward the new income-tax framework, taxpayers should understand which provisions apply to their particular financial year and keep their records updated.

# # # 🔹 Why Are the Income-tax Rules Important?

The Rules provide the practical framework for implementing provisions of income-tax law. They can cover areas such as:

• Return filing procedures
• Forms and statements
• TDS/TCS compliance
• Tax deductions and reporting
• Documentation requirements
• Digital tax proceedings
• Other prescribed compliance procedures

# # # 🔹 What Should Individuals Check?

Individuals should regularly review:

• Salary and pension income
• Interest and dividend income
• Capital gains
• House property income
• TDS/TCS credits
• AIS and Form 26AS
• Investment-related information
• Foreign income or assets, wherever applicable

# # # 🔹 What Should Businesses Check?

Businesses and professionals should pay attention to:

• Books of accounts and financial records
• TDS/TCS compliance
• Business and professional income
• Tax deductions and expenses
• Reconciliation of accounting and tax information
• Timely filing of returns and prescribed forms
• Digital communications from the Income Tax Department

# # # 🔹 Digital Compliance Is Becoming More Important

Modern tax administration increasingly relies on electronically reported information.

Taxpayers should therefore:

• Review AIS before filing ITR
• Verify TDS/TCS information
• Reconcile financial records
• Keep supporting documents safely
• Monitor online tax communications
• Respond to notices within the applicable timeline

# # # 🔹 Avoid Applying Old Rules Without Checking

Tax provisions can differ depending on the **financial year, assessment year and effective date** of a provision.

Before making a tax decision, taxpayers should check:

• Which law applies to the relevant period
• Applicable Rules and notifications
• Effective dates
• Relevant forms and procedures
• Their individual or business circumstances

# # # 🔹 Why Professional Guidance Matters

Income-tax compliance is becoming more data-driven. A small mismatch between financial records, AIS, TDS information and the ITR can sometimes create unnecessary questions.

Proper review before filing can help taxpayers identify discrepancies and maintain better compliance.

# # # 👨‍💼 CA Naresh Kansal

📞 **9873192124**

**Income Tax | GST | Tax Advisory | Financial Advisory**

For professional assistance with **Income-tax Rules, ITR filing, tax compliance, TDS, AIS reconciliation and tax planning**, contact CA Naresh Kansal.

23/08/2026

# # Updated ITR: When Can You Correct Your Previous Tax Return?

Filing an Income Tax Return (ITR) correctly is important for every taxpayer. However, sometimes taxpayers may discover an error, omission or unreported income after filing their return. In such situations, an **Updated Income Tax Return (ITR-U)** can provide an opportunity to voluntarily update tax information as per applicable provisions.

# # # 🔹 What Is an Updated ITR?

An Updated Return allows eligible taxpayers to update previously filed tax information under prescribed conditions.

It may be useful when:

• Certain income was not reported earlier
• Incorrect income details were disclosed
• Tax liability was understated
• Wrong information was furnished in the original return
• Additional income needs to be reported voluntarily

# # # 🔹 Why Is Correct Tax Reporting Important?

Accurate tax reporting helps taxpayers:

• Maintain better tax compliance
• Avoid unnecessary disputes
• Keep financial records updated
• Ensure proper disclosure of income
• Reduce future compliance concerns

# # # 🔹 Documents to Review Before Filing an Updated Return

Before filing an Updated ITR, taxpayers should review:

• AIS (Annual Information Statement)
• Form 26AS
• TIS (Taxpayer Information Summary)
• Bank statements
• Salary records and Form 16
• Capital gain statements
• Business or professional income records
• Interest and dividend income details

# # # 🔹 Common Situations Where Taxpayers Discover Errors

Many taxpayers identify discrepancies after filing because:

• Interest income was missed
• Dividend income was not reported
• Capital gains were calculated incorrectly
• F&O or trading income was omitted
• TDS information was not properly matched
• Additional income information appeared in AIS later

# # # 🔹 Important Points to Consider

Before taking any action:

• Verify all financial records carefully
• Reconcile AIS and Form 26AS
• Check applicable tax provisions
• Review income from all sources
• Calculate tax implications correctly
• Maintain supporting documentation

# # # 🔹 Benefits of Timely Correction

Taking corrective action promptly can help taxpayers:

• Improve tax compliance
• Maintain accurate records
• Avoid future reporting issues
• Ensure proper disclosure of income
• Strengthen financial transparency

# # # 🔹 Professional Tax Guidance

Every taxpayer's situation is different. Before filing an Updated Return, it is advisable to review income records, tax documents and applicable provisions carefully.

Proper professional guidance can help ensure that tax information is reported accurately and in accordance with applicable requirements.

# # # 👨‍💼 CA Naresh Kansal

📞 **9873192124**

**Income Tax | GST | Tax Advisory | Financial Advisory**

For assistance with **ITR-U, Updated Return Filing, AIS Reconciliation, Tax Compliance, Business Income, Capital Gains and F&O Taxation**, contact CA Naresh Kansal.

NARESH KANSAL & ASSOCIATES

31/08/2026

31/08/2026

29/08/2026

28/08/2026

26/08/2026

25/08/2026

24/08/2026

23/08/2026

23/08/2026

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