Income Tax Articles
The Cost of Not Filing Your ITR - A Real Story You Shouldn't Ignore
CA. Bhavik P. Chudasama 29 July 2025 at 11:00Many 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 08:28Explore 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 08:28Explore 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 12:59Reporting 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 17:15This 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.
Pvt Ltd Setup After July 14? Read This Before Appointing a Chartered Accountant
Mitali 26 July 2025 at 16:20Pvt Ltd company compliance alert! CA appointment now needs ADT-1 filing within 15 days, with Rs. 300 challan from 14 July 2025.
Finance Minister Urges Swift Disposal of Tax Disputes and Litigation Backlog
Mitali 25 July 2025 at 16:44FM Nirmala Sitharaman urges swift resolution of tax disputes, highlights timely execution over policy and praises CBDT’s streamlined tax bill reform.
Received Rs 5 Lakh in FY 24-25 from LIC Jeevan Labh: Do I Need To Pay Tax in AY 25-26?
Poojitha Raam Vinay 25 July 2025 at 15:58
Understand the taxability of LIC Jeevan Labh maturity benefits under Section 10(10D) of the Income Tax Act. Learn how the issue date, annual premium amount and recent Rs 5 lakh limit affect tax exemption.
Your Cash, Your ITR: Rules for Withdrawals and Deposits with Reconciliation Strategy
Mitali 25 July 2025 at 13:30Learn how cash withdrawals impact your ITR and when disclosure is necessary to avoid income tax cases, with insights on AI scrutiny and compliance for various income types.
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