Income Tax Articles

Finance Bill 2025: Key Amendments, Budget Overview and Economic Impact

Rashmi 27 March 2025 at 08:24

The Lok Sabha passed the Finance Bill 2025 on March 25, 2025, incorporating 35 government amendments. This marks a crucial step in the Budget approval process for the fiscal year 2025-26

Understanding the Income Tax Assessment Process: Key Sections, Notices and Timelines

CA Jaydeep Babubhai Vadher 26 March 2025 at 08:31

Assessee files the Income Tax Return (ITR) electronically via the Income Tax Portal.

Revised MSME Criteria: Key Amendments and Threshold Changes for 2025

CA Jaydeep Babubhai Vadher 24 March 2025 at 08:31

In a significant move aimed at redefining the criteria for Micro, Small, and Medium Enterprises (MSMEs), the Government of India has announced amendments to the MSME classification thresholds.

Key Considerations Before Investing in Tax-Saving Instruments

Rashmi 24 March 2025 at 08:31

Before investing, review your EPF contributions, home loan principal repayments, and children's tuition fees, which may already help you reach the ₹1.5 lakh limit under Section 80C.

New Tax-Free Travel Perks for Employees in the Income Tax Bill, 2025

Rashmi 22 March 2025 at 08:34

The Income Tax Bill, 2025 introduces an important update regarding tax-free benefits for employee commuting. This change removes ambiguity and makes it easier for both employees and employers to understand which travel expenses are exempt from tax.

Taxation of Digital Marketing Services: 44AD vs. 44ADA

CA. Bhavik P. Chudasama 21 March 2025 at 09:37

Digital marketing has become an essential industry, with professionals and agencies offering services like search engine optimization (SEO), social media marketing, paid advertising, and content marketing.

Finance Bill 2025: Key Tax Reforms for Charitable Trusts and Their Impact

Rashmi 21 March 2025 at 08:33

Here's a detailed look at the key amendments and what they mean for charitable organizations.

Double Taxation Avoidance Agreement: Rules & Tax Relief Benefits

Chaitra Seetharam 20 March 2025 at 13:59

Double Taxation Avoidance Agreements (DTAAs) typically outline Special Tax Rates, commonly called withholding tax rates, applicable to specific income types such as dividends, interest, royalties, and technical service fees.

Year-End Financial Checklist: The Role of CAs and Office Automation in Driving Business Success

CA Abhishek Agarwal 19 March 2025 at 08:34

Year-end financial compliance is non-negotiable for businesses. It ensures all financial records are accurate, obligations met, and no loose ends carry into the new year. Ignoring year-end duties can lead to regulatory penalties, cash flow issues, or audit troubles, which no business owner wants.

Proposed Change in Tax-Free Perquisites for Employee Travel in the Income Tax Bill, 2025

Rashmi 19 March 2025 at 08:30

The proposed Income Tax Bill, 2025 introduces a key change in how tax-free perquisites related to employee travel are defined. This change aims to provide more clarity and reduce legal disputes regarding employer-funded transportation expenses.