Income Tax Articles

Income Tax Act 2025: Highlights, Slab Rates & Provisions

LegalDev 25 August 2025 at 08:23

The Income Tax Act 2025, effective from 1 April 2026, replaces the 1961 Act with simplified provisions, new tax slabs, the concept of "tax year," consolidated TDS rules and recognition of digital assets for taxation.

Perquisite & Overseas Medical Exemption Become Tax-Free under Rule 3C and 3D for Salaried Employees

Mitali 23 August 2025 at 15:21

Learn about Rule 3C & Rule 3D under the 2025 Income Tax 2nd Amendment - Govt raises tax-free limits for perks and overseas treatment. Rule 3C and 3D bring major relief to salaried employees.

Pensioners Above 60, 75 and 80: Hidden Tax Benefits To Save Thousands And Skip Filing

Mitali 23 August 2025 at 12:32

Know which pensioners can skip ITR filing or who gets exemption and key tax benefits under Income Tax Act. Rules by age, income type are also explained.

Penalty Provisions in the Online Gaming Bill, 2025

Srinidhi S 22 August 2025 at 11:21

The Promotion and Regulation of Online Gaming Bill, 2025 bans online money games while regulating social games and e-sports. Learn about penalties, industry impact and key provisions of the new law.

GST + Income Tax: Rules for Small Traders Above Rs 25 Lakh Receipt

Ayush 21 August 2025 at 17:03

Maintaining proper books of accounts is crucial for GST and Income Tax compliance. Learn why small traders must keep records, key requirements under GST & IT Act, types of books to maintain, and the risks of non-compliance.

87A Rebate Restored on Share Market Capital Gains: ITAT Ahmedabad's Historic Ruling

Mitali 19 August 2025 at 17:45

Learn about the recent ITAT Ahmedabad judgment allowing Section 87A rebate on STCG/LTCG up to AY 2025-26, the legal implications, refund eligibility and tax tips for share market investors.

FEMA Accounts in India: Eligibility, Tax Rules & Repatriation for NRIs & PIOs

Affluence Advisory 19 August 2025 at 08:42

Confused between NRE, NRO, FCNR(B), SNRR & RFC accounts? Explore FEMA-compliant options for NRIs, PIOs, and returning residents with tax implications.

Sections 153A & 153C of the Income Tax Act: Incriminating Material, Judicial Rulings & Assessment Scope

Vivek Jalan 19 August 2025 at 08:30

Explore key differences between Sections 153A & 153C of the Income Tax Act, definition of incriminating material, and major Supreme Court rulings.

ITR Filing Deadline 2025: Calls for Further Extension

Poojitha Raam Vinay 18 August 2025 at 14:45

Income Tax Return filing for non-audit taxpayers has been extended to September 15, 2025. Learn why the deadline was shifted, pending issues with ITR forms, and calls for further extension.

Filed Under 44AD Instead of 44ADA and Claimed Full Refund: Now Facing Audit and Penalties

Mitali 18 August 2025 at 13:26

ITR filing under Section 44AD for professional income deducted under Section 194J may lead to audits, heavy penalties, and refund reversal.