Income Tax Articles

Digitalization of Capital Gains Account Scheme (CGAS)

CA Umesh Sharma 25 November 2025 at 06:17

Updated in 2025, the Capital Gains Account Scheme now offers digital deposits, more authorized banks, online closures, and clearer rules for LTCG exemptions.

Tax Offences Under the New Income Tax Act 2025: How They Compare With the 1961 Act

Vivek Jalan 25 November 2025 at 06:17

A detailed comparison of key prosecution offences under the Income Tax Act, 1961 and the new Income Tax Act, 2025, including sections on wilful tax evasion, failure to file returns, and non-payment of TDS/TCS.

No Advance Tax for Pensioners in FY 2025-26

Poojitha Raam Vinay 24 November 2025 at 15:45

Know how pensioners can avoid advance tax if they don’t have any business or profession income.

One Missed ITR Dragged 82 Year Old Woman to High Court

Mitali 24 November 2025 at 13:57

Know how an 82-year-old senior citizen fight against income tax penalties due to an unfiled return caused by health issues.

Is Your STCG Blocking Your Section 87A Rebate?

Chaitra Seetharam 24 November 2025 at 10:40

Understanding Section 87A can be confusing when Short-Term Capital Gains (STCG) are involved. While the rebate eliminates tax for income up to Rs 7 lakh under the new regime, STCG taxed at special rates often causes mistaken tax demands.

How to Fix AIS Mismatch While Filing Your Income Tax Return: Simple Guide (AY 2025-26)

Karthik Annaram 24 November 2025 at 06:22

Facing AIS mismatch while filing ITR? Learn the common causes, how to fix errors using AIS feedback, and when to revise your return to avoid tax notices.

Few Mistakes Blocking Your ITR Processing

Mitali 22 November 2025 at 14:25

Is your ITR stuck? Check these may be the filing errors that are stopping your refund.

Old ITR Forms To Shut Down from 2026

Mitali 21 November 2025 at 14:27

Important update on income tax filing: Old ITR forms discontinued, new forms and procedures to launch January 2026.

Non-Filing of ITR and Non-Payment of Taxes May Lead to Prosecution u/s 276C

Vivek Jalan 21 November 2025 at 06:27

Non-filing of ITR or non-payment of taxes can trigger prosecution under Section 276C of the Income Tax Act for willful tax evasion. Penalties include rigorous imprisonment up to 7 years and fines, especially where evasion exceeds Rs 25 lakh.

Two PAN Cards Only But Fined Rs 60,000 and 7 Years Jail

Mitali 20 November 2025 at 17:44

Under Indian law, holding more than one PAN card is considered illegal and invalid. Earlier, the penalty under section 272B for possessing multiple PAN cards wa..