Income Tax Articles

Bulk Emails from @IncomeTaxIndia on ITR Discrepancies

Mitali 17 December 2025 at 16:32

Income Tax is sending bulk mails on ITR-AIS mismatches, even for genuine buys funded from savings, loans or gifts. Know why?

Received Advance Payments in December 2025: Is It Taxable in Receipt or Service Year?

Aarika 17 December 2025 at 13:33

Got advance payment for services? Know whether it is taxable in year of receipt or when work is done.

Applicability of Section 269SS of the Income Tax Act, 1961 to Director's Current Account Transactions

Marimganti Tarun B.com,FCMA 17 December 2025 at 07:09

An expert analysis of Section 269SS explaining why cash infusions by directors into closely held companies, driven by business exigency or survival needs, are not “loans or deposits” and do not attract penalty under Section 271D, supported by key judicial precedents.

People Treating ITR as Refund ATM: Notices May Hit Filers Hard in 2025

Mitali 15 December 2025 at 13:19

Filing ITR only to claim inflated or wrong refunds can trigger Income Tax notices in 2025. Know how misuse of TDS refunds, AIS mismatches and excessive deductions lead to scrutiny, penalties and demands and how timely ITR revision can help avoid trouble.

Penalty for Late Filing of Income Tax Return

Chaitra Seetharam 13 December 2025 at 16:34

Missed ITR due date? Know about late filing fees, interest and consequences such as no loss set-off for FY 2024-25.

Section 36(1)(va) vs Section 43B: Deduction of Employees' PF/ESI After Checkmate Services

Vivek Jalan 13 December 2025 at 09:08

Supreme Court in Checkmate Services held delayed employees' PF/ESI contribution is not deductible even if paid before ITR filing. ITAT allows 143(1)(a) adjustment, while Delhi HC has issued notice on the constitutional validity of Sections 2(24)(x) and 36(1)(va).

Received Income tax Notice? Here's when to worry and when not to

Kowsalya 13 December 2025 at 06:52

Learn which IT notices require simple clarification like mismatches in Form 26AS, routine document checks, or small 143(1) adjustments and which ones need urgent action, such as scrutiny under 143(2), large tax demands, non-filing alerts, or reassessment under Section 148.

NRI Gift from Brother-in-law Held Exempt under Section 56 - ITAT Kolkata Allows Assessee's Appeal

CA Jaydeep Babubhai Vadher 13 December 2025 at 06:52

The Kolkata ITAT has ruled that a gift of Rs 80 lakh received from a brother-in-law qualifies as exempt under section 56(2)(vii) of the Income tax Act. The Tribunal held that gifts from specified relatives cannot be taxed merely due to doubts over the donor's source of funds, reaffirming that such enquiries must be made in the donor's hands, not the recipient's.

Maximize Your Property Profits: A Guide to Section 54EC Bonds

CA.Sangam Aggarwal 12 December 2025 at 06:48

Learn how Section 54EC Bonds (now Section 85 under the Income Tax Act, 2025) help you legally save tax on long-term capital gains from land or buildings.

How to Claim Google Ads TDS Refund in India (2025 Guide)

Deelip Kushwaha 10 December 2025 at 06:45

Learn how to claim your Google Ads TDS refund in India with this updated 2025 guide. Understand TDS rules, documents, deadlines, and step-by-step refund process.