Income Tax Articles

Income Tax Notice for Buying Property in Wife's Name

Mitali 11 November 2025 at 17:36

Discover what the ITAT Ahmedabad ruled about buying property in a wife's name. Avoid being taxed for unexplained investment.

How Companies Can Save Tax upto 32.50% by Formation of Gratuity Fund under Irrevocable Trust?

Tikaram Chaudhary 11 November 2025 at 06:42

Indian and multinational companies can save up to 32.5% in taxes by creating a CIT-approved gratuity fund under an irrevocable trust, as per Sections 36(1)(v) and 10(25)(iv) of the Income Tax Act, 1961. Without such a trust, gratuity provisions are disallowed under Section 40(a)(7)

PAN Card Deactivation Warning: Don't Miss the Deadline 2025!

Poojitha Raam Vinay 10 November 2025 at 15:29

Extended deadline for PAN-Aadhaar linkage is specifically for those who have been issued PAN with Aadhaar enrolment ID. Stay compliant to avoid Rs 1,000 penalty.

FAQs on the Applicability of Tax Audit under the Income Tax Act, 1961

CA Prabhakar Gupta 08 November 2025 at 06:53

Understand everything about Tax Audit under Section 44AB of the Income Tax Act, 1961, from applicability limits and exemptions to penalties for non-compliance.

Why Form 16 Alone Isn't Enough While Filing Your ITR

AISHWARYA PAWAR 07 November 2025 at 06:33

Form 16 helps salaried individuals file their ITR, but it doesn’t show your complete income picture. Learn what Form 16 includes, what it misses, and why cross-checking with Form 26AS, AIS, and bank records is crucial for accurate tax filing.

No-Income Period Expenses: Can You Claim Deductions Under Section 37(1) or 34(1)?

Vivek Jalan 06 November 2025 at 06:46

Explore whether expenses incurred during a no-income period are allowable under Section 37(1) of the Income Tax Act, 1961 or Section 34(1) of ITA, 2025, and understand how unabsorbed depreciation is treated under Sections 32(2) and 33(11).

TDS and TCS Refund Rules Changed: Correction Window Now Only 2 Years

Ayush 05 November 2025 at 13:07

Major changes in TDS and TCS rules: File corrections within two years or you may lose tax refund opportunity.

Aadhaar Update Now a Legal Obligation, Not a Choice: High Court Ruling

Mitali 05 November 2025 at 13:04

UIDAI cannot refuse Aadhaar updates if valid proof is provided, individuals can seek legal action if corrections are denied.

Pay Zero Income Tax on Capital Gains: Save Tax by Reinvesting up to Rs 10 Crore LTCG

Pranab Banerjee 04 November 2025 at 06:34

Save up to Rs 10 crore in long-term capital gains tax under Section 54 by reinvesting in a new residential property. Learn how to pay zero tax legally.

ITAT Ahmedabad: No Section 14A Disallowance When Assessee Has Sufficient Own Funds

Vivek Jalan 04 November 2025 at 06:34

ITAT Ahmedabad rules that disallowance under Section 14A read with Rule 8D is not justified when the assessee has sufficient own funds for investments.