Income Tax Articles

Comprehensive Comparison of Section Numbers: Income Tax Act, 1961 vs. Income Tax Act, 2025

CA Varun Gupta 18 February 2025 at 08:33

To assist with this transition, the government has released a comparison chart that maps the sections of the Income Tax Act 1961 to their corresponding sections in the Income Tax Act 2025. This chart will be highly beneficial in helping you quickly locate the new sections if you remember the old section numbers.

Unexplained Cash Credits & Section 68: Tax Implications, Legal Battles and Key Judgments

Leena TheRaja 14 February 2025 at 08:27

A variety of monetary credits like advances, deposits, gifts, and loans are included in the definition of cash credits.

Comprehensive Guide to Deductions under Income Tax Bill 2025

CA Rohit Sonar 14 February 2025 at 08:27

The Income Tax Bill 2025, introduced to replace the decades-old Income Tax Act of 1961, brings a wave of modernization and clarity to the Indian taxation system.

Important Key Points about the New Income Tax Bill, 2025

Bimal Jain 13 February 2025 at 17:54

The New Income Tax Bill, 2025 set to take effect from April 1, 2026, represents a comprehensive overhaul of the existing tax framework. It consists of 536 claus..

Income Tax Bill 2025: Top FAQs Answered for Taxpayers

Shivani 13 February 2025 at 15:26

FAQs related to Income Tax Bill 2025

Boosting the Middle Class: How Budget 2025 Affects Your Finances

Sahil Jaiswal 13 February 2025 at 11:33

The Union Budget 2025 introduces significant measures aimed at bolstering India's middle class, directly impacting your personal finances.

Section 194F of Income Tax Act: Impact on Your Income Tax Return

Ishita Ramani 12 February 2025 at 06:45

This article shall let you know about the impact of Section 194F of Income Tax on your Income Tax Return.

Unclarity in the Proposed Amendment to Section 12AB in Budget 2025

CA Aman Rajput 11 February 2025 at 08:41

Budget, 2025 proposed extending the validity of trust and institution registrations as per section 12AB from 5 years to 10 years. However, doubts are arising regarding its applicability across different categories of trusts and institutions.

Old vs. New Tax Regime: Which One is Better for You After Budget 2025?

FCS Deepak Pratap Singh 10 February 2025 at 08:47

The Union Budget 2025 has brought cheers on the face of the middle class and crores of people. Because you need not pay any tax if you are earning an aggregate of Rs. 12 Lakhs or less during financial year on fulfillment of some terms and conditions.

Income Tax Exemption 2025 for Salaried Individuals: How to Maximize Your Savings

Ishita Ramani 10 February 2025 at 08:47

Income tax exemption is a treasured tool for salaried individuals to lessen their taxable profits and maximize savings. The Income Tax Exemption 2025 provisions provide diverse deductions and exemptions designed to ease the tax burden on taxpayers.