Income Tax Articles

Stay on Time, Stay on Track: Complete Timeline for Tax Tribunal Actions

Ayush 31 July 2025 at 11:30

A quick-reference guide to the key deadlines for taxpayers and departments in appeals, cross-objections, rectifications and urgent listings.

5 Tax Saving Tips Every Salaried Indian Must Know for FY 2025-26

Raghuvir Gakhar 31 July 2025 at 08:42

Discover 5 smart and legal ways for salaried individuals to save tax in FY 2025-26 from maximizing Section 80C and 80D deductions to making the right choice between the old and new tax regimes. Expert tips inside!

How To Pay Zero Tax in Stock Market Income: Is 87A Rebate Available?

Mitali 29 July 2025 at 12:32

Know Section 87A tax rebate for FY 2024-25, including eligibility, income limits, tax-saving strategies and its impact on share market income for resident individuals.

New Code for Social Media Influencers in ITR-3: Is Content Creation Now a Profession?

Chaitra Seetharam 29 July 2025 at 12:09

The Income Tax Department has officially recognised "Content Creation" as a profession in ITR-3 for AY 2024–25 with Profession Code 6023. Social media influencers and creators must now report income under “Profits and Gains from Business or Profession,” comply with GST if applicable, and maintain proper records to claim deductions and ensure tax compliance.

The Cost of Not Filing Your ITR - A Real Story You Shouldn't Ignore

CA. Bhavik P. Chudasama 29 July 2025 at 11:00

Many salaried individuals mistakenly believe that TDS means no need to file an ITR. This real-life case of Mr. Chudasama shows how that assumption can lead to massive tax demands and legal trouble. Learn why filing your return is essential, even when tax is already deducted.

Key Legal Provisions Applicable to Charitable Trusts and Institutions

CA Jaydeep Babubhai Vadher 29 July 2025 at 08:28

Explore a comprehensive guide to the taxation and regulatory framework for charitable trusts and institutions under the Income-tax Act, 1961. Learn about registration, exemptions, compliance, anonymous donations, and investment rules applicable to NGOs and non-profits in India.

Decoding the Business Codes in ITR

CA Umesh Sharma 29 July 2025 at 08:28

Explore the significance of newly introduced business codes in ITR filings as explained by Krishna to Arjuna. Learn how these updates, including AI integration, aim to improve tax compliance and reflect emerging sectors like social media and trading.

Self Transfers and Contra Entries in ITR Now Mandatory If You Have Rs 50L in Savings

CA Ruby Bansal 28 July 2025 at 12:59

Reporting all self-bank transfers, UPI-wallet movements, and interbank transactions is now mandatory in ITR filings. If your total savings deposits exceed Rs 50 lakh, ITR filing is compulsory even with income below the taxable limit. Learn how to report contra entries and stay compliant.

CBDT Interest Waiver under Section 201(1A)(ii)/206C(7): Time-Bound Relief for TDS/TCS Defaults Due to Technical Glitches

CA Varun Gupta 28 July 2025 at 08:30

This article analyses the legal framework, compliance requirements, and strategic roadmap for deductors/collectors and tax professionals to utilise this waiver facility effectively.

Section 54F Disqualification Due to Under-Construction Flats: A Legal and Practical Analysis

CA. Bhavik P. Chudasama 26 July 2025 at 17:15

This article addresses one such complex case involving multiple jointly owned residential properties and under-construction units, with specific focus on whether exemption under Section 54F can still be claimed.