Income Tax Articles

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.

Tax Harvesting Secrets Turn Capital Gains into Tax-Free Wealth

CA Abhishek Agarwal 21 January 2025 at 08:43

Tax harvesting involves strategically selling investments to realize gains or losses, thereby managing the tax liability.

Section 40A(2)(b): Domestic Transfer Pricing in GST Era

Vivek Jalan 20 January 2025 at 08:38

Domestic transfer pricing: Specified Domestic transaction to exclude payments made u/s 40A(2)(b); Inter-unit comparison of net profit in these GST times

Streamlining Tax Laws: Merging Provisions, Enhancing Officer Accountability and Promoting Ease of Compliance

Vivek Jalan 17 January 2025 at 08:47

Today each Section and Rule of The Income Tax Act is flooded with Provisions and explanations. Then there are circulars as well as notifications, some of which are so old that it is even difficult to find them publicly.

Empowering Charitable Trusts and NGOs Tax, Compliance and Operational Mastery

CA Abhishek Agarwal 17 January 2025 at 08:44

his guide provides a comprehensive roadmap for managing these organizations, covering formation and registration (Trusts, Societies, or Section 8 Companies), taxation frameworks (exemptions under Sections 11, 12, and 80G), compliance and reporting