Income Tax Articles

Are Your Diwali Gifts Taxable? Know the Income Tax & GST Provisions

Posted by CA Umesh Sharma 21 October 2025 986 Views

Confused about Diwali gift taxation? Know when gifts are taxable under Income Tax & GST, exemptions, TDS under Section 194R, and key compliance rules.

Budget 2025: Why 90% of Taxpayers May Switch to the New Income Tax Regime

Posted by Pranab Banerjee

14 October 2025 946 Views

Budget 2025 makes income tax simpler! With zero tax up to Rs 12 lakh and easier slabs, over 90% taxpayers may shift to the new tax regime.

How to Earn more than 8.20% Interest from Senior Citizen Savings Scheme 2025

Posted by Mitali 10 October 2025 22972 Views

Senior Citizen Saving Scheme (SCSS) allows eligible individuals to earn interest on their investments with a potential strategy from 1st September 2025 onwards....

How to Calculate Presumptive Income Under Section 44AE of Income Tax Act?

Posted by vibha sharma 10 October 2025 329 Views

Learn how Section 44AE of the Income Tax Act simplifies tax filing for small transport businesses with presumptive taxation and digital tools.

More Than Rs 20,000 Cash Transactions Can Cost You 100% Penalty: Check Now Before It's Too Late

Posted by Mitali 08 October 2025 2106 Views

Cash transactions over Rs 20,000 for loans, deposits or specified sums may add 100% penalties to you - Use bank transfers or cheques for compliance.

Last Date To File LLP-8 and NDH-3

Posted by Poojitha Raam Vinay

08 October 2025 789 Views

Reminder from MCA: LLPs and Nidhi companies must file Form LLP-8 and Form NDH-3 to stay compliant and avoid penalties.

Relief or Burden: What Every Taxpayer Should Know About the New Income Tax Act, 2025

Posted by Affluence Advisory 08 October 2025 604 Views

The new Income Tax Act, 2025, effective from April 1, 2026, replaces the six-decade-old Income Tax Act, 1961, with simplified provisions, reduced sections, and clearer tax rules. Key highlights include new tax slabs, higher deductions, elimination of notional rent, rationalised TDS/TCS, clear taxation on virtual digital assets and a focus on digital compliance.

Overview of the Old and New Tax Regimes under the Income Tax Act 2025

Posted by Pranab Banerjee

08 October 2025 646 Views

Confused between the Old and New Tax Regimes under the Income Tax Act 2025? This complete guide explains key differences, tax slabs, deductions, and benefits for FY 2025-26, helping you choose the regime that maximises your tax savings with ease.

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

Posted by Pranab Banerjee

06 October 2025 683 Views

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

Posted by CA. Bhavik P. Chudasama 04 October 2025 7992 Views

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