Income Tax Articles

File Your ITR Before 15th September and Avoid Financial Vighnas!

CA Umesh Sharma 02 September 2025 at 08:34

Learn from the dialogue of Arjuna and Krishna how timely filing of Income Tax Returns before the extended due date of 15th September 2025 can help taxpayers avoid penalties, missed deductions and financial obstacles.

Taxability of Futures and Options (F&O) Transactions under the Income Tax Act, 1961

CA Ravi Chauhan 01 September 2025 at 10:20

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).

Treatment of Minor's Income and TDS Deduction: Clubbing Provisions, Refund Claims, and Demand Resolution under the Income Tax Act

CA Varun Gupta 30 August 2025 at 08:40

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

LegalDev 30 August 2025 at 08:32

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

CA Varun Gupta 29 August 2025 at 08:26

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

Mitali 28 August 2025 at 17:32

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

CA Varun Gupta 28 August 2025 at 08:29

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?

Mitali 27 August 2025 at 16:39

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?

Pranab Banerjee 27 August 2025 at 08:34

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%

Mitali 26 August 2025 at 12:50

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.