Income Tax Articles

Comprehensive Comparison of Section Numbers: Income Tax Act, 1961 vs. Income Tax Act, 2025

Posted by CA Varun Gupta

18 February 2025 7887 Views

To assist with this transition, the government has released a comparison chart that maps the sections of the Income Tax Act 1961 to their corresponding sections in the Income Tax Act 2025. This chart will be highly beneficial in helping you quickly locate the new sections if you remember the old section numbers.

Unexplained Cash Credits & Section 68: Tax Implications, Legal Battles and Key Judgments

Posted by Leena TheRaja 14 February 2025 1265 Views

A variety of monetary credits like advances, deposits, gifts, and loans are included in the definition of cash credits.

Comprehensive Guide to Deductions under Income Tax Bill 2025

Posted by CA Rohit Sonar 14 February 2025 1009 Views

The Income Tax Bill 2025, introduced to replace the decades-old Income Tax Act of 1961, brings a wave of modernization and clarity to the Indian taxation system.

Important Key Points about the New Income Tax Bill, 2025

Posted by Bimal Jain 13 February 2025 779 Views

The New Income Tax Bill, 2025 set to take effect from April 1, 2026, represents a comprehensive overhaul of the existing tax framework. It consists of 536 claus...

Income Tax Bill 2025: Top FAQs Answered for Taxpayers

Posted by Shivani 13 February 2025 1946 Views

FAQs related to Income Tax Bill 2025

Boosting the Middle Class: How Budget 2025 Affects Your Finances

Posted by Sahil Jaiswal 13 February 2025 568 Views

The Union Budget 2025 introduces significant measures aimed at bolstering India's middle class, directly impacting your personal finances.

Section 194F of Income Tax Act: Impact on Your Income Tax Return

Posted by Ishita Ramani 12 February 2025 1733 Views

This article shall let you know about the impact of Section 194F of Income Tax on your Income Tax Return.

Unclarity in the Proposed Amendment to Section 12AB in Budget 2025

Posted by CA Aman Rajput 11 February 2025 243 Views

Budget, 2025 proposed extending the validity of trust and institution registrations as per section 12AB from 5 years to 10 years. However, doubts are arising regarding its applicability across different categories of trusts and institutions.

Old vs. New Tax Regime: Which One is Better for You After Budget 2025?

Posted by FCS Deepak Pratap Singh 10 February 2025 1436 Views

The Union Budget 2025 has brought cheers on the face of the middle class and crores of people. Because you need not pay any tax if you are earning an aggregate of Rs. 12 Lakhs or less during financial year on fulfillment of some terms and conditions.

Income Tax Exemption 2025 for Salaried Individuals: How to Maximize Your Savings

Posted by Ishita Ramani 10 February 2025 1249 Views

Income tax exemption is a treasured tool for salaried individuals to lessen their taxable profits and maximize savings. The Income Tax Exemption 2025 provisions provide diverse deductions and exemptions designed to ease the tax burden on taxpayers.