Income Tax Articles
Taxability of Futures and Options (F&O) Transactions under the Income Tax Act, 1961
Comprehensive guide on tax treatment of Futures & Options (F&O) under the Income Tax Act, 1961 for FY 2024-25 (AY 2025-26). Covers classification, taxation of profits and losses, turnover calculation, tax audit applicability, presumptive taxation, ITR reporting, and deductible expenses as per ICAI Guidance Note (Revised 2025).
Entertainment Allowance Deduction: Govt Employees Only
31 August 2025
14 Views
Discover who can claim entertainment allowance deductions and how much. Learn about limits, eligibility for government employees, and taxable amounts.
Treatment of Minor's Income and TDS Deduction: Clubbing Provisions, Refund Claims, and Demand Resolution under the Income Tax Act
30 August 2025
1438 Views
Learn how to handle TDS deducted in a minor’s PAN, clubbing of minor’s income under Section 64(1A), refund claims, rectification process, and compliance under the Income-tax Act, 1961.
Tax Filing 2025: Old vs New Regime - Key Deductions You Can Still Claim Under Both
Discover key deductions available under both old and new tax regimes, including standard deduction, employer contributions, gratuity, and family pension. Compare regimes to save more on taxes in FY 2024-25.
Income Tax Filing 2025: New Business Codes for Intraday, F&O and Delivery-Based Trading
29 August 2025
3207 Views
Learn about the new Income Tax business codes for share trading - 21009 (Intraday), 21010 (F&O) and 21011 (Delivery-Based). Understand speculative vs non-speculative income, Section 44AD applicability, ITR-3 vs ITR-4 usage, audit rules under Section 44AB and loss carry-forward provisions for traders.
More Than 40 deductions or exemptions available under New Tax Regime For FY 24-25: Check Before Filing
List of more than 40 deductions and exemptions under New Tax Regime FY 2024-25. Maximize tax savings with this complete guide.
CBDT Clarification on PAN-Aadhaar Linking: Relief for Buyers & Sellers in Property Deals
28 August 2025
6772 Views
Understand how CBDT Circular 9/2025 fixes PAN-Aadhaar linking issues in property TDS under Section 194-IA, avoiding excess 20% deduction demands.
Is It Mandatory To Disclose All Bank Accounts in ITR: What If Not Shown?
Learn why reporting every bank account in your ITR is mandatory and know how missing bank accounts in your ITR can trigger IT notices and heavy fines.
Old vs New Regime: How to decide which tax regime will save more Tax?
27 August 2025
1314 Views
Confused between old vs new tax regime for FY 2025-26? With higher rebate limits, bigger standard deduction, and simpler compliance, the new tax regime now suits most taxpayers. Compare both regimes, breakeven points and download an automatic Excel tax calculator to plan smartly.
Fake Allowances = Real Tax: Salaried Employees May Penalize 200%
Learn about the income tax rules for salaried taxpayers in India, common mistakes, penalties up to 200% and how to file returns correctly in 2025.
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