Income Tax Articles
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.
CBDT Circular 9/2025: PAN-Aadhaar Linking Relief for TDS/TCS Defaults Explained
CA Varun Gupta 25 July 2025 at 08:36
This Circular aims to address a recurring grievance wherein system-generated demands were raised under Sections 200A and 206CB of the Income-tax Act, 1961, for short deduction or short collection of tax, even though the deductee's/collectee's PAN became operative shortly after the transaction
CBDT Circular 07/2025: Extended Deadline for Processing Condoned ITRs Where Refund Not Received
CA Varun Gupta 24 July 2025 at 08:40
This article focuses on a specific practical issue: what happens after condonation is granted and the return is filed?
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