Income Tax Articles

How to Calculate Presumptive Income Under Section 44AE of Income Tax Act?

Posted by vibha sharma 10 October 2025 313 Views

Learn how Section 44AE of the Income Tax Act simplifies tax filing for small transport businesses with presumptive taxation and digital tools.

More Than Rs 20,000 Cash Transactions Can Cost You 100% Penalty: Check Now Before It's Too Late

Posted by Mitali 08 October 2025 2098 Views

Cash transactions over Rs 20,000 for loans, deposits or specified sums may add 100% penalties to you - Use bank transfers or cheques for compliance.

Last Date To File LLP-8 and NDH-3

Posted by Poojitha Raam Vinay

08 October 2025 707 Views

Reminder from MCA: LLPs and Nidhi companies must file Form LLP-8 and Form NDH-3 to stay compliant and avoid penalties.

Relief or Burden: What Every Taxpayer Should Know About the New Income Tax Act, 2025

Posted by Affluence Advisory 08 October 2025 602 Views

The new Income Tax Act, 2025, effective from April 1, 2026, replaces the six-decade-old Income Tax Act, 1961, with simplified provisions, reduced sections, and clearer tax rules. Key highlights include new tax slabs, higher deductions, elimination of notional rent, rationalised TDS/TCS, clear taxation on virtual digital assets and a focus on digital compliance.

Overview of the Old and New Tax Regimes under the Income Tax Act 2025

Posted by Pranab Banerjee

08 October 2025 609 Views

Confused between the Old and New Tax Regimes under the Income Tax Act 2025? This complete guide explains key differences, tax slabs, deductions, and benefits for FY 2025-26, helping you choose the regime that maximises your tax savings with ease.

What is Advance Tax? Deduction Process, Liability and Penalties Explained

Posted by Pranab Banerjee

06 October 2025 674 Views

Advance Tax, known as "Pay As You Earn," requires taxpayers with a net liability above Rs 10,000 to pay income tax in instalments throughout the year. Learn who must pay, due dates, calculation steps, exemptions, penalties and benefits of timely payment under the Income Tax Act, 1961.

A Professional's Guide to Hindu Undivided Family (HUF): Understanding Its Role and Benefits

Posted by CA. Bhavik P. Chudasama 04 October 2025 7978 Views

Learn about Hindu Undivided Family (HUF) under Indian tax law - its structure, benefits, limitations, and tax slab rates for AY 2026-27. Discover how HUF helps in wealth management, tax planning, and income splitting while ensuring compliance

Made a Mistake in ITR Filing? Step-by-Step Guide to Rectification under Section 154

Posted by CA Varun Gupta

04 October 2025 1565 Views

Made a mistake in filing your ITR? Learn how to correct errors using Rectification of Return under Section 154 of the Income-tax Act, 1961. Understand timelines, procedure, common mistakes covered and remedies if rectification is rejected.

Statutory Tax Compliance Tracker - October 2025

Posted by CS Lalit Rajput 03 October 2025 3651 Views

Check key Income Tax and GST compliances & Due dates for October 2025

Budget 2025: Why Most Taxpayers Now Prefer the New Tax Regime

Posted by Pranab Banerjee

03 October 2025 529 Views

Budget 2025 has made the New Tax Regime more attractive with higher rebates, lower rates, and simpler filing. Compare the New vs. Old Tax Regime and see why most taxpayers now prefer the new system in FY 2025-26.