Income Tax Articles

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 1945 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.

FAQs on Principal Purpose Test (PPT) and Recent Clarifications by CBDT

Posted by CA Rohit Sonar 08 February 2025 334 Views

The Principal Purpose Test (PPT) is a provision under the Multilateral Instrument (MLI) to prevent treaty abuse and aggressive tax planning practices. It aims to ensure that treaty benefits are granted only when the principal purpose of a transaction or arrangement is genuine and not merely to obtain treaty benefits.

What is Book Identification Number in TDS?

Posted by CA Aman Rajput 08 February 2025 184 Views

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.