Income Tax Articles

Comprehensive Guide to Section 140B: Taxation of Updated Returns Under the Income Tax Act

CA Jaydeep Babubhai Vadher 01 March 2025 at 08:34

Section 140B governs the tax payment mechanism when an assessee furnishes an updated return under Section 139(8A).

TDS on Salaries (FY 2024-25): New Rules Under Section 192 Explained

CA Jaydeep Babubhai Vadher 28 February 2025 at 08:28

Income-Tax Deduction from Salaries during the Financial Year 2024-25 under Section 192 of the Income-Tax Act, 1961

Income-Tax Amendments 2025: New Compliance Requirements for Trusts

CA Jaydeep Babubhai Vadher 27 February 2025 at 08:36

In exercise of the powers granted under sub-section (1A) of section 115AD, sub-section (4) of section 115TCA, sub-section (4) of section 115UA, and sub-section (7) of section 115UB, read with section 295 of the Income-tax Act, 1961, the CBDT has introduced important amendments to the Income-tax Rules, 1962.

Budget 2025: No Income Tax on Rs 12 Lakh - A Revolutionary Step for India's Economy

CS Rakesh Chandak 26 February 2025 at 08:44

The Union Budget 2025 has brought a significant reform-exempting individuals earning up to Rs 12 lakh per annum from paying income tax.

Where Should Your Savings of Tax Go?

CA Umesh Sharma 25 February 2025 at 08:28

ow, anyone earning up to ₹12 lakh won't have to pay any tax. This change helps taxpayers save between ₹35,000 to ₹1,10,000 depending on the income level, putting more money in their hands and giving major relief to the middle class.

TDS Rate Chart for FY 2025-26 (AY 2026-27)

CA Aman Rajput 24 February 2025 at 09:52

TDS Section ListNature of PaymentThresholdIndividual or HUFOthers192Payment in form of salary₹ 2,50,000Slab RatesSlab Rates192A(Note 1)Employee Provident Fund ..

Guide on Income Tax for NRIs - Filing & Compliance

J. D. Shah Associates 21 February 2025 at 08:30

This article on Income Tax for NRIs simplifies your tax filing obligations and highlights key considerations for compliance.

Consequences of Submitting Fake Rent Receipts for Claiming HRA

FCS Deepak Pratap Singh 21 February 2025 at 08:30

The Income Tax Department has found various cases of claiming HRA on the basis of fake documents and hence taken firm steps to check tax leakage.

Simplification of TDS/TCS Provisions in the New Income Tax Bill

Shree 20 February 2025 at 14:31

The government has proposed significant simplifications to the Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) provisions in the new Income Tax Bill.

New Income Tax Bill Simplifies Salary & House Property Rules for Easy Filing

Shree 19 February 2025 at 12:42

The latest tax reform bill has introduced significant simplifications in the Salary and House Property provisions to enhance clarity and ease of compliance.