Income Tax Articles

What is Book Identification Number in TDS?

CA Aman Rajput 08 February 2025 at 08:49

The Book Identification Number, also called BIN, is a unique reference number generated by the Pay & Accounts Office, District Treasury Office, or Cheque Drawing & Disbursing Officer when filing Form 24G, which is used by government deductors for depositing TDS/TCS to track Tax Deducted at Source and Tax Collected at Source payments made by government offices without the challans.

Income Tax Calculator for FY 2025-26

Benny Thadathil 07 February 2025 at 08:46

A major change introduced in the Finance Bill 2025 is restructuring the New Income Tax regime to provide more take-home to salaried employees and encourage them to spend or invest further

Simplify Your Tax Calculations with comparison with Old and New Regime as per the Finance Bill 2025

CA CMA Sagar Jaiswal 05 February 2025 at 08:49

Are you a salaried employee looking to simplify your income tax calculations? Look no further! I am excited to introduce my Auto Calculator Income Tax Excel Sheet.

Retention of Seized Books of Account u/s 132(8) of the Income Tax Act, 1961

Shree 05 February 2025 at 08:49

Learn about the retention rules for seized documents under Section 132(8) of the Income-tax Act, 1961, and amendments introduced by the Finance Bill 2025.

Budget 2025: How the New Tax Regime Takes the Lead

CA Aditya 04 February 2025 at 08:51

This article explores the key changes in the new tax slabs, how the increased rebate impacts individuals, and why the new tax regime is the more beneficial choice for most taxpayers in India today.

Key Proposals of Union Budget 2025 - Income Tax

CA.Sangam Aggarwal 04 February 2025 at 08:51

Key Amendments proposed in Budget 2025 (Income Tax)

Understanding Section 194T: TDS on Payments to Partners - FAQs

CA Rohit Sonar 29 January 2025 at 08:48

Section 194T is a new provision introduced by the Finance (No. 2) Act, 2024, effective from April 1, 2025. It mandates Tax Deduction at Source (TDS) on certain payments made by firms to their partners.

Middle-Class Relief: Will Budget 2025 Address Rising Living Costs?

Chaitra Seetharam 27 January 2025 at 12:54

The Union Budget 2025 is highly anticipated, especially by middle-class households struggling with rising living costs due to inflation, housing affordability issues, and increasing expenses for essential services like education, healthcare, and transportation.

Government Likely to Introduce Simplified Income Tax Bill in Budget Session

CA Naveen Panwar 24 January 2025 at 08:50

The government is expected to propose a new Income Tax bill during the upcoming Budget session of Parliament, aiming to overhaul the current tax legislation.

Tax Implications on purchase and sale of Immovable Property

CA.Sangam Aggarwal 22 January 2025 at 08:45

The purchase of immovable property is not just a strategic investment but also a transaction laden with tax implications under various provisions of the Income Tax Act, 1961.