Income Tax Return Rectification – Recently my friend has received tax demand from Income Tax Dept. He has filed an income tax return before the due date and return was processed by CPC. The intimation of processing ITR 143(1) was also generated and sent to his mailbox. However, intimation is containing tax demand. Before filing income tax return he has checked everything including Form 26AS tax credit. He was in a dilemma and thinking what is wrong and what to do next?
He asked for advice from me about this tax demand. As the return is processed and CPC has asked tax demand, he has two options.
File a rectification after finding a mistake
Agree with tax demand and pay due tax amount
After looking at tax demand and ITR copy, I realized it is a clear case of “Tax payment mismatch”. The TAN number mentioned in the TDS schedule was wrong in ITR and due to this, there was a case of Unmatched Tax Deducted at Source and tax demand. I told him to file Income Tax Return Rectification under section 154(1).
If you are facing a similar problem or you have done a mistake in filing an Income tax return, you can opt for Income Tax Return Rectification. A rectification request can be filed only for returns that are already processed by CPC Bangalore.
What types of errors can be corrected by filing ITR Rectification?
A rectification request under section 154(1) is allowed only for correcting errors or obvious mistakes in Income tax returns.
The following errors can be corrected by filing a rectification.
an error of fact
a small clerical mistake
mathematical error
error due to oversight compulsory provisions of law
Few examples of these errors are –
Tax credit mismatch
Advance tax mismatch
Mistake in mentioning gender
Wrong TAN number entry
Omission of TDS entry
You cannot use the rectification request option for changing the bank account or address details of the income tax return.
Revised Income Tax Return Vs Income Tax Return Rectification
Please remember that revised income tax return and income tax return rectification is totally different.
Revised Income Tax Return
In revised income tax return you can change or revise your income and even modify your personal information in the appropriate fields. A revised income tax return can be filed by the taxpayer any time before the expiry of the relevant assessment year or before completion of the assessment. This is as per section 139(5).
E.g If income tax return is filed for FY 2017-18 (AY 2018-19) and if one wants to revise return with income detail or personal information he/she can do that up to 31st March, 2019 or before completion of assessment.
There is no restriction on number of times return can be revised. No penalty or fees applicable on revising return.
Income Tax Return Rectification
Income Tax Return Rectification can be filed under section 154(1) for correcting few obvious mistake. The mistake here does not include income declaration, personal information change etc. In rectification only error can be corrected and up to certain extent.
You cannot claim any new deductions or exemption under rectification. The rectification can only be filed for the return already processed by CPC. The rectification can be done online on Income Tax website.
How to file Income Tax Return Rectification Online?
Step by step process to file Income Tax Return Rectification Online is given below.
Step 1 – Login to Income Tax Website.
Step 2 – Go to ‘e-File’ and select Rectification from drop down menu.
Step 3 – Select Assessment Year for which rectification to be filed. Click on the submit button. You will be asked to select a request type. There are three different options. You can do return data correction (XML), you can reprocess the return or you can provide additional information for 234C.
Step 4 – If data correction is required select “Return data Correction (XML)” and press continue button.
Step 5 – System will display popup for the selection of Rectification Reason. Select the appropriate reason and press Ok button.
Step 6 – Select Schedules being changed such as TDS, TCS or IT. Regenerate XML file after correction of data in ITR. Select the XML file and press submit button.
Step 7 – On successful submission, a Reference number is generated and sent for processing to CPC, Bangalore. You will be able to see status of request under My Account > View e-Filed Returns/Forms. Select Rectification Status and click on Submit. You will be able to see Rectification Status Online.
Please note that the withdrawal of rectification request is permitted only within same day of e-filing of relevant rectification request.
Let’s be honest, who doesn’t dream of earning money without actively working for it? Passive income isn’t just a buzzword—it’s a game-changer for financial freedom. The good news? 2025 is shaping up to be one of the best years to dive into this space, with opportunities exploding across digital, real estate, and even AI-driven avenues. Whether you’re looking to supplement your day job or retire early, this guide is packed with creative and actionable passive income ideas tailored for the year ahead.
What is passive income? Which are good passive income ideas for 2025? Well, as you are reading this post, I suppose you are bored with your routine 9 to 5 job and planning to live a free life without the tension of job and boss. Here is a post that will help you in finding unique passive income ideas for 2025.
In India, getting a good job with a decent salary after graduation is an extremely difficult task. The majority of people are either searching for a good job or settled with a low-salary job. The idea here is not to help you in finding a good job but to generate a passive income that lasts long without placing an effort.
All these passive income generation ideas require dedicated efforts and time. You will not get overnight success in any of the passive income ideas given here. You have to do a lot of hard work with passion to get desired results.
What are Passive Income ideas?
Passive Income ideas are ideas that help you to generate constant income with minimum effort. Passive income is a secondary source of income or add-on income. There are many people in the world earning a lot of money using passive income ideas.
There are many instances where the level of passive income has increased and replaced the primary income source. So, start working on passive income ideas, maybe someday your primary income will be replaced by a passive income source.
Sure, it’s not a “set it and forget it” miracle. But with the right strategy, passive income can help you build a financial safety net, invest in your future, or fund that dream vacation you’ve been eyeing.
Benefits of Passive Income
There are multiple benefits of passive income. A few of them are given below.
Freedom – You can live your life freely without fear of losing your job every day.
Flexibility – You will get a lot of flexibility in terms of the time of working as well as creativity.
Recurring Income – You can generate good recurring income using these ideas.
No binding on Time – You can work anytime and there is no binding on time.
More time – You will get more time for your family and friends.
No Boss – You will be free from a boss and all worries.
Looking at the benefits given above you must be excited to know about passive income ideas. So, without wasting much of your time, here are the best passive income ideas.
The world has changed drastically over the past few years. Technological advancements, shifting work trends, and the rise of AI have opened up doors to opportunities that didn’t exist before. Plus, people are craving financial independence more than ever.
In 2025, the passive income landscape is thriving thanks to:
AI and Automation: Tools that help you earn with minimal oversight.
The Creator Economy: More ways to monetize skills and content.
Digital Nomad Trends: Location-independent income streams.
With the right timing and effort, you can take advantage of these trends to create income streams that last for years.
25 Best Passive Income Ideas for 2025
Online Passive Income Ideas
#1 Start Blogging
The first online passive income idea is blogging. In blogging, you need to write an article on various topics. Select a topic where you have enough knowledge and expertise. Blogging can help you to generate income in the long run. Advertising and affiliate marketing are ways to generate income from blogging.
#2 Freelancing
Freelancing is another idea for generating passive income. In freelancing, you need to complete the project or work assigned to you online. You will need special skills like writing, proofreading, SEO, web designing to generate income. You can use a website such as Fiverr, Upwork to start freelancing.
#3 Affiliate Marketing
Affiliate Marketing is the most popular online method of making money online. You can make constant money using this method. In this method, you need to generate and share a link of products that you will be recommending to people. Famous websites such as Amazon, Flipkart provide a facility for becoming an affiliate marketer. The commission will be paid to you if someone purchases products by the affiliate marketing link provided by you.
#4 Online Course
An online course is another popular option for generating online income. You need to be a subject matter expert to design an online course. You can create your website or you can use a website such as Udemy or Thinkific for an online course.
#5 YouTube Channel
Creating and uploading videos on YouTube is one of the most popular residual income generation options. You need to create a YouTube channel and upload videos to make your channel. Once your channel becomes popular you can apply for an advertising program offered by YouTube.
#6 Dropshipping
Door shipping is an online business model in which entrepreneurs sell products to their customers without ever actually stocking the items themselves. There are many online websites such as Shopify, and Alidropship that provide a facility for generating dropshipping business.
#7 AI Assisted Copywriting Services
Use AI tools to create marketing copy, then sell templates or services. It’s an emerging trend that can generate consistent income with minimal ongoing effort.
Investment-Based Passive Income Ideas
#8 Investment in Mutual Funds & Equity for Dividend
Investment in mutual funds and equity for earning dividends is the simplest form of passive income generation idea. You need not place much effort to earn money via this method. However, you should be an expert in the selection of high dividend-paying stocks and mutual funds.
#9 Peer 2 Peer Lending
Peer 2 peer lending is the next idea on the list. In the P2P lending business, you need to lend money to people looking for a loan. You will get interest income as a lender. This idea is risky and requires a lot of money. You can use an online platform for doing p2p lending.
#10 Create a Business System with Franchise
Another very good passive income generation idea is creating a business model or system that works on a franchise model. This means you have to establish a business with a franchise model. You can earn a lot of money in the long run.
#11 Invest and make interest income
The generation of interest income from available money is next on the list. Here you need to open a special bank account with a higher interest rate or you need to find out investment avenues generating good interest income.
#12 Invest in business as a silent partner
Investing in business as a silent partner is next on the list. Here you will be acting as an investor in good business. The responsibility of running a business and generating income lies with an active business partner. You will get a fixed profit or monthly shares as a part of your investment.
#13 Buy a profitable online Blog
Buying a profitable online blog is next on the list. In this idea, you need to find out good profitable blog online. You must consider the popularity and traffic ranking of the blog before taking any decision. Here the tough task is to convince a blogger for selling his/her blog.
#14 Create and Sell NFTs
Non-fungible tokens (NFTs) are digital assets that can represent art, music, or collectibles. While speculative, NFTs offer creators a chance to earn royalties every time their work is resold.
Passive Income Ideas from Home
#15 MLM
Multilevel Marketing or MLM is one of the best passive income ideas from Home. Anyone can start an MLM business. In this business, you need to sell the product and services of MLM Company. You will be paid commission income. Your income here also depends on members added by you and business generated by them.
#16 Insurance Agency
Insurance agency is one of the very good passive income generation ideas. As an insurance agent, you need to sell insurance policies. You will be paid commission on the premium paid by the customer. You can sell all types of insurance such as life insurance, general insurance, etc.
#17 Consultancy Business
The consultancy business is next on the list. You can be a tax consultant, investment consultant, property consultant, or business consultant. You require knowledge and expertise for this business. You will get a regular income as a consultant.
Passive Income Ideas by Renting
#18 Rental income from residential property
You can generate rental income from residential property. This idea is useful if you have multiple properties. You need to rent a property and earn a regular monthly income.
#19 Rent your vehicle
Most transportation network companies require a vehicle with a driver. If you have multiple cars you can rent a car and earn a regular income. There are many companies and travel agencies like cleartrip, makemy trip hire a vehicle on monthly rental basis.
#20 Rent other items using an online platform
Any extra or unused items can be rented out online using various portals. Examples of unused items are furniture, music equipment, appliance, electronic equipment, office space, land for farming, etc. Websites like rentomojo can help you in renting various unused items.
#21 Rental income from commercial property
Rent out your commercial property and earning a decent rental is next on the list. This idea works out if you have several commercial properties or you can purchase several commercial properties.
#22 Rental income from Advertising and Hoarding
Your extra space on the terrace or balcony can be used to rent out for advertisement hoardings. There are many companies ready to take hoarding space on a monthly rental basis. It is a very good passive income generation option.
Skill based Passive Income
#23 Write Book or Music Album and collect Royalties
You can write your book and earn passive income. I know it is time-consuming and require a lot of effort for writing a book. But once your book is ready and it goes to the sales stage, it becomes a completely passive venture. If you are good at music you can create your music album and sell it.
If your book or music album becomes popular you will get royalties for the distribution and even for advertisement. The royalties can continue flowing for life long also.
#24 Build Smartphone App
This passive income idea is for the technology expert. You can build your smartphone app and make money via a subscription model or via advertisement. You need to be creative and build an app with a unique idea such as a video editor, image editor, currency converter, messenger, etc. You can earn lifelong passive income by building a smartphone app.
#25 Start a Podcast
Podcasts are booming, and advertisers are paying attention. Create a show around a topic you love, build an audience, and monetize through sponsorships or listener donations.
Final Thoughts
Remember – You become financially free when your passive income exceeds your expenses.
Select a passive income generation idea as per your skill and start working towards becoming financially free.
20 Small Business Ideas in India – There are multiple small business ideas available across the Internet. You need to select the best business idea considering your skill set and future business potential. Well, if you are planning to start a new business in 2025 and looking for small business ideas I have prepared a list of 20 small business ideas that can help you to generate big money in 2025
All these business ideas given in the list are selected based on a few basic requirements such as –
Future business potential and profitability.
It can be started with low or medium investment.
The skillset required for these business ideas is moderate and does not require long-term experience.
It can survive in the adverse economic situation also.
A few business ideas from the list are home-based and others required you to rent a premises and hire a certain number of employees.
So, now without taking much of your time, let’s explore 20Small Business Ideas in India for 2025.
20Small Business Ideas in India for 2025
#1 Solar Power Office and Home
Electricity is a basic requirement for a human being. Electricity is required for residential, commercial as well as industrial applications. Solar energy is a powerful source that can be used for the generation of electricity. In this business, you need to sell solar power plants and solar project solutions. You need to install a solar grid at home or office premises and generate energy from the grid. You will need a solar panel grid, solar inverter, battery, wires, and competent manpower for the installation and maintenance of the system.
#2 Warehouse or Inventory Management for e-commerce
Most online e-commerce companies are running out of warehouse and inventory management across cities. This gives birth to a new business called warehouse or inventory management. This business requires a lot of manpower and space for the warehouse. In the initial stage, you can start this business from a small city and later stage you can expand.
#3 Vertical Farming & Gardening
Vertical farming & gardening is a promising business ideas for the future. In this business, you need to take an assignment to build a garden in the office or home area. In addition to that, you can start vertical farming in which you need to beautify walls by growing plants. Most small and medium businesses opt for vertical farming. Thus it is a very good business option.
#4 Wearable Business
Wearable products such as a smartwatch, rings, wristbands, pins, and smart devices are becoming popular nowadays. Most of these products are imported. You can start the business of importing wearables for selling them here. It is going to be a lucrative business option. You need to carry out proper market research before starting this business.
#5 Travel Planning
Travel planning is a lucrative career option. In the travel planning business, you need to plan travel for people. You should have good knowledge of hotels, bookings, and routes. This will help you in planning travel for the people. You can take a franchise of famous travel companies to quickly establish your business. To generate invoices you can make use of the Zintego Invoice Generator. Zintego helps you to generate invoices from the desktop as well as from Mobile.
# 6 Organic Food Store
Organic food is food that is grown naturally without using fertilizer and chemicals. Organic food is becoming popular in India. Thus starting your organic food store could be a lucrative business option. It is recommended to do a tie-up with farmers directly for getting a constant food supply of vegetables and fruits.
#7 Antique Dealer
An antique dealer is a person that deals in antique items. To become an antique dealer, you need to start gathering antique showpieces, and items. You will lot of money to start an antique dealer business. These types of items are purchased by high-net-worth individuals in India as well as abroad.
#8 Online Coaching
Online Coaching is next on the list of business ideas for 2025. You can start an online coaching business from home. Firstly, you need to prepare content for various subjects. You can prepare videos and post them on YouTube or you can give subscription-based online coaching using Skype, WebEx, zoom, or other coaching tools.
#9 Internet & Cyber Security
The incidents of hacking and security incidents are increasing rapidly. This gives birth to a new career option called a cybersecurity specialist. In this business, you need to help companies in protecting their infrastructure, application, and websites from cyber-attacks. You have to undergo a course to get expertise in this field. Once your business grows you need to employ people as a helping hand.
#10 Mobile App Development
Mobile app development is a lucrative business option. In this business, you need to develop a mobile app based on customer requirements. You can design even your mobile app or game for making money. You require a team of extremely knowledgeable people in Android and iOS app development.
Weight loss is one of the most discussed topics among everyone. You can start your weight loss center. In a weight loss center first, you need to design a weight loss plan with exercise, a diet plan, and using medicine. It is a good idea to get certification and experience before starting a weight loss center.
#12 Stem Cell Business
The Stem Cell business is one of the most popular growing business options. A stem cell is a biological cell that is used for fighting against life-threatening diseases. In the stem cell business, you need to collect, test, and preserve stem cells from donors. The stem cell is to be kept at a lower temperature. It is a capital-intensive business with very good business potential.
#13 Home care for elderly
Home care for the elderly is a popular business option. In this business, you need to provide manpower for home care. You can tie up with nearby hospitals and doctors to get client lists for the business. Initially, you need to do a lot of hard work for establishing this business.
#14 Internet Advertising
Internet advertising is a promising business option. The usage of the internet is growing all over. The Internet is widely used for advertising. You can start your own internet advertising trading business. You can accept advertisements from the business and give them to a popular website at a specific place. This advertisement could be text-based or image-based. You can earn a lot of money in this business.
#15 Internet and mobile infrastructure building
Internet and mobile infrastructure building are next on the list of business ideas for 2025. The usage of the internet and mobile is growing. Many companies are looking for contractors to help in building the internet and mobile tower infrastructure. If you can invest money and a lot of manpower you can start this business.
#16 Food Truck & Fast Food Business
A food truck is an evergreen business option. It is a low-cost business. In this business, you need to modify a truck or vehicle for accommodating food stoves and other items. You will need a good cook to help you in this business. Good taste and an economical price is important to get success in this business.
#17 Recruitment Services
Recruitment service is an evergreen business idea. The level of unemployment is growing all across. People are ready to spend money on getting a good job. Thus starting your recruitment agency is a very good business option. You need to do a tie-up with the organization looking for good candidates. You can earn a good commission income from this business.
#18 Foreign Visa Consultancy
Starting a foreign visa consultancy is next on the list of business options. You need knowledge of the visa rules of various countries before starting this business. Many aspiring candidates are looking for a visa abroad in Canada, the USA, and Australia. If you have expertise and manpower you can start this business.
#19 Real Estate Business
Real estate is an evergreen business option. There are multiple ways to start a real estate business. A simple way is to start a real estate agency. Apart from that, you can start building a construction business. You will need big capital in order to start building construction and material business.
#20 Import Export Business
Import Export is a business of facilitating trades of goods and commodities between domestic and foreign companies. In order words, the Company buys goods internationally and ships in the domestic market. The usage of imported items is growing in India thus starting an import-export business makes sense.
Over to you
I hope the above business ideas will help you in selecting the right business option for 2025.
You can send your business query to my e-mail address info@moneyexcel.com.
Types of Debit Cards – A debit card has changed our life. A debit card is a plastic card used for money withdrawal from an ATM as well as swiping while doing shopping. The size of the debit card is very small but the advantages offered by the card are very big. Every bank provides a debit card when you open a savings bank account with them. As and when you perform a transaction using this card your account will be debited with the transaction amount. A debit card eliminates the need for a physical visit to the bank. You can make use of a debit card anytime for cash withdrawal and shopping.
There are various types of debit cards. You may not be aware of the features and benefits associated with a debit card. Here is complete information about debit cards including the advantages of the card. This will help you to optimize select cards based on your requirements.
Rupay debit card is issued by the National Payment Corporation of India. Rupay debit card is accepted only domestically. Rupay debit card has been introduced in India recently. RuPay debit card was introduced for people living in rural areas and small villages. Low transaction cost and easy availability are attractive points about this debit card.
Visa debit card
Most of the banks in India issue debit cards from Visa. This type of debit card is issued by the Visa payment system network. Visa debit card is globally accepted all over. Visa ATM network is spread across India as well as abroad. This type of debit card can be used for making secure transactions online.
Master Card
Master Card is a US-based company. Master Card is a competitor of Visa. The card issued by the master card is widely accepted all over the world. Master cards are popular for excellent customer support and services. Master cards offer more secure services.
Contactless debit card
A contactless debit card is a card that allows you to make a payment without swiping. You just need to wave the card to make payment. A contactless debit card works on NFC or RFID principles. The contactless card eliminates the risk of duplicating cards.
Mastro Debit Card
Mastro is another brand of master card. You can use the Mastro debit card globally. Mastro debit cards can be used for the withdrawal of money from ATM. You can also use this card for performing online transactions. The features offered by Mastro are similar to the Master card.
Visa Electron Debit Card
Visa Electron debit card is similar to Visa card. The basic difference between Visa and Visa Electron is you will not get an overdraft facility with a Visa Electron Debit card. Visa Electron card is not accepted in countries like the USA, Australia, Canada, and Ireland.
Virtual Debit Card
The card generated online from the bank’s website is known as a virtual debit card. A virtual debit card cannot be used for the withdrawal of money at an ATM. You cannot use this card for shopping in the store. This card can be used only for online shopping. A virtual debit card is generally secure in nature.
Gift Card
A gift Card is the card used for gifting somebody. Gift Card is issued by most of the banks. You can load a gift card with a specific amount. You can load this card with a minimum amount of Rs.500 and a maximum amount of Rs.10000. This card can be used only for online and offline shopping. You cannot withdraw money from the gift card.
Prepaid Card
A prepaid card is issued for a specific purpose such as toll payment, travel, online payment, etc. You can load this card with a specific amount. This card can be used for making payments at a specific place. You can also use this card to withdraw money from an ATM.
Travel Forex Card
A travel forex card is issued by the bank. Travel forex cards can be loaded with multiple foreign currencies and used abroad. You can make online and offline payments all over using a travel forex card. You can also use the card for the withdrawal of money from the ATM. It is a secure way of carrying foreign currency out of India.
Advantages of debit card
The primary purpose of issuing a debit card is to provide ease in terms of withdrawing money. One can withdraw money from an ATM anytime using a debit card. Apart from the withdrawal of money debit cards are also used for buying various products online on e-commerce websites. Here are some of the top advantages of debit cards.
One can make use of a debit card for emergency cash requirements. It allows you to withdraw money from an ATM anytime. You need not carry cash all the time.
The usage of the debit card does not affect the credit score. It is a prepaid instrument that is linked to your savings bank account. On the usage of the card, the transaction amount will be debited from your account. Whereas in credit cards it affects CIBIL score.
A debit card is easy to carry and less risky. It is a convenient solution that helps you anytime.
You can also use a debit card for the activation of UPI. Once UPI is activated you can use a mobile app for making transactions.
Few debit card provides benefits such as personal accident coverage, discounts, cashback, and reward points.
Over to you
Usually, the bank does not provide you choice of debit card. However, given a choice, you should compare the different cards. It helps you in understanding the benefits offered by card along with fees and charges. Don’t select a card based on the rewards offered by the card. Make sure that the card is globally accepted and provides security and safety while performing transactions.
