Income Tax Articles
Top Women Empowerment Schemes in India: Transforming Lives in 2025
Rashmi 10 March 2025 at 08:39The Indian government has launched various schemes to empower women in education, employment, and financial independence. Now, let's explore some of the key women empowerment schemes in India.
Updated Return (ITR-U) u/s 139(8A) - A Comprehensive Guide
CA Daljinder Singh 10 March 2025 at 08:36ITR-U was introduced in the Union Budget 2022 u/s 139(8A) of the Income Tax Act, 1961. This provision allows taxpayers to correct errors, declare undisclosed income, and file returns if missed earlier, even after the belated and revised return deadlines.
Save Tax on Equities with Tax Harvesting
CA Rohit Sonar 08 March 2025 at 08:26With the new Income Tax Act maintaining the existing set-off and carry-forward provisions, tax harvesting will continue to be a viable strategy for optimizing tax liability on capital gains.
Comparison of ITR-U (Section 139(8A)) and Condonation of Delay of ITR (Section 119(2)(b))
CA Varun Gupta
07 March 2025 at 08:44
The Income Tax Act, 1961, provides different mechanisms for taxpayers to address missed deadlines for filing Income Tax Returns (ITR).
TDS on Rent Under Section 194-IB: Understanding the Transition from 5% to 2%
CA Harshali Salvi 06 March 2025 at 08:34The Union Budget 2024 reduced the TDS rate on rent payments under Section 194-IB from 5% to 2%, effective October 1, 2024.
Tax Saving Strategies for Taxpayers in this March!
CA Umesh Sharma 04 March 2025 at 08:34Discover expert tax-saving tips as Krishna guides Arjuna through deductions, exemptions, and strategies under the new and old tax regimes. Maximize savings and minimize tax liability with smart financial planning!
ITR-U - Belated Return u/s 139(8A): A Detailed Overview after Budget 2025
CA Varun Gupta 03 March 2025 at 08:30
The Updated Income Tax Return (ITR-U) is a recent provision introduced under Section 139(8A) of the Income Tax Act, 1961. This provision gives taxpayers an opportunity to correct errors or omissions in their previously filed returns, even after the prescribed deadlines have passed.
The Role of CS in Tax Compliance: A Case for Inclusion in the Income Tax Act, 2025
Team IN Filings 03 March 2025 at 08:30After the ICSI's multiple representations to the Income-Tax Bill Review Committee, the government is conducting a study to determine whether CS should be recognized as an Accountant.
Comprehensive Guide to Section 140B: Taxation of Updated Returns Under the Income Tax Act
CA Jaydeep Babubhai Vadher 01 March 2025 at 08:34Section 140B governs the tax payment mechanism when an assessee furnishes an updated return under Section 139(8A).
TDS on Salaries (FY 2024-25): New Rules Under Section 192 Explained
CA Jaydeep Babubhai Vadher 28 February 2025 at 08:28Income-Tax Deduction from Salaries during the Financial Year 2024-25 under Section 192 of the Income-Tax Act, 1961
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