*TAX FILING TIPS* Small investors will not have to file Complex ITR Form - If your profit is less than Rs 1.25 lakh or less in a year by selling mutual funds or shares, then you are not required to file a complex form like ITR-2 or ITR-3. You can directly file ITR-1 (Sahaj) or ITR-4 (Sugam) This change is a big relief for those who earn from salary or are small businessmen and also earn a little from investment. *New tax option for those selling their house or any other immovable property* If you bought a house or land *before 23 July 2024 and are now selling it* , then you have two options: 1. You can *pay 12.5% ​​tax, but it will not get the indexation benefit.* 2. Alternatively, you can *pay 20% tax in which the indexation benefit can be availed.* As regards ITR-2, the updated form will have a separate LTCG reporting provision for transactions done before and after July 23, 2024, accommodating revised norms for indexation and tax rates. Also, buyback proceeds after October 1 last year need to be shown under ‘Income from Other Sources’ and as well as ‘Nil’ consideration in the capital gains section. Till now, people who had total assets of more than Rs 50 lakh, had to give details of everything they have – like house, car, loan – in ITR. Now this limit has been increased to Rs 1 crore. That is, now only those people will have to give this detail whose property is more than ₹ 1 crore. This will reduce the burden on the middle class a bit.