Income Tax Articles

What is Advance Tax? Deduction Process, Liability and Penalties Explained

Pranab Banerjee 06 October 2025 at 07:14

Advance Tax, known as "Pay As You Earn," requires taxpayers with a net liability above Rs 10,000 to pay income tax in instalments throughout the year. Learn who must pay, due dates, calculation steps, exemptions, penalties and benefits of timely payment under the Income Tax Act, 1961.

A Professional's Guide to Hindu Undivided Family (HUF): Understanding Its Role and Benefits

CA. Bhavik P. Chudasama 04 October 2025 at 09:27

Learn about Hindu Undivided Family (HUF) under Indian tax law - its structure, benefits, limitations, and tax slab rates for AY 2026-27. Discover how HUF helps in wealth management, tax planning, and income splitting while ensuring compliance

Made a Mistake in ITR Filing? Step-by-Step Guide to Rectification under Section 154

CA Varun Gupta 04 October 2025 at 06:40

Made a mistake in filing your ITR? Learn how to correct errors using Rectification of Return under Section 154 of the Income-tax Act, 1961. Understand timelines, procedure, common mistakes covered and remedies if rectification is rejected.

Statutory Tax Compliance Tracker - October 2025

CS Lalit Rajput 03 October 2025 at 09:21

Check key Income Tax and GST compliances & Due dates for October 2025

Budget 2025: Why Most Taxpayers Now Prefer the New Tax Regime

Pranab Banerjee 03 October 2025 at 06:25

Budget 2025 has made the New Tax Regime more attractive with higher rebates, lower rates, and simpler filing. Compare the New vs. Old Tax Regime and see why most taxpayers now prefer the new system in FY 2025-26.

Tax Audit Limit for AY 2025-26

Poojitha Raam Vinay 29 September 2025 at 15:07

Know when a tax audit u/s 44AB is required, audit report deadlines, penalties and compliance rules under the Income Tax Act.

Audit Reports Deadline Pushed to 31 October and ITR to 30 November

Mitali 27 September 2025 at 12:44

Tax audit due date extended to October 31, 2025 which means ITR filing deadline for audited taxpayers to be 30 November 2025.

Income Tax Filing in India: Why Timely Compliance Matters

Munivel 27 September 2025 at 08:35

Learn everything about Income Tax Returns (ITR) in India - types of ITR forms, why filing is important, benefits like refunds & loan approvals, and common mistakes to avoid. Stay compliant and file accurately.

Optional Tax Regime u/s 115BAC: Exemptions & Deductions Not Allowed

Pranab Banerjee 26 September 2025 at 08:42

Confused between the old vs the new tax regime? Section 115BAC offers lower slab rates but removes most exemptions. Learn benefits, drawbacks and who should opt in.