Articles by Chaitra Seetharam

Major Relief in Tax on Unexplained Income: From Heavy Tax to a Balanced Approach

Posted by Chaitra Seetharam 03 April 2026 2201 Views

Finance Bill 2026 revamps taxation of unexplained income, cutting rates from 78% to ~39% while imposing stricter penalties up to 200%, promoting voluntary compliance and updated return benefits.

Bank Account Transaction Limit 2026 with New Tax Rules

Posted by Chaitra Seetharam 31 March 2026 1044075 Views

Updated cash transaction rules for FY 2026-27 under the Income Tax Act, 2025. Check new PAN limits, SFT reporting thresholds, TDS on withdrawals and UPI caps.

Deductions Allowed to Salaried Individuals under New Tax Regime For FY 2026-27

Posted by Chaitra Seetharam 21 March 2026 4897 Views

Union Budget 2026 keeps the New Tax Regime unchanged for FY 2026-27. Check allowed deductions like Rs 75,000 standard deduction, employer NPS benefits, Section 87A rebate, tax-free threshold up to Rs 12.75 lakh and updated income tax slabs.

From Rs 1000 to Rs 25,000 w.e.f April 2026: Penalty for Failing to Provide Business Information with Tax Officers

Posted by Chaitra Seetharam 17 March 2026 12931 Views

Big change in Income-tax Act 2025: Higher penalties introduced for failure to furnish information under Section 254.

UPI Transaction Limits Starting From April 2026

Posted by Chaitra Seetharam 05 March 2026 135843 Views

UPI rules for 2026 explained: ₹1 lakh daily limit for most users, ₹5 lakh for select payments, ₹5,000 cap for new users, plus new ATM withdrawal charges and enhanced security rules effective April 1, 2026.

Will AI Overcome the Role of CAs or Auditors in future?

Posted by Chaitra Seetharam 28 February 2026 342 Views

AI is transforming the accounting and audit profession by automating routine tasks in accounting, audit and tax compliance. However, professional judgment, ethical reasoning, and client advisory remain human-centric. Discover how CAs and auditors can thrive as AI-enabled professionals.

How Much Can Senior Citizens Earn Tax-Free After Budget 2026?

Posted by Chaitra Seetharam 26 February 2026 9891 Views

In the Union Budget 2026, Finance Minister Nirmala Sitharaman prioritized simplifying compliance and making tax filing more convenient, rather than introducing ...

Penalties for Missing or Wrong Crypto-Asset Transaction Statements from April 2026

Posted by Chaitra Seetharam 19 February 2026 1157 Views

ion Budget 2026 introduces penalties for delayed and inaccurate VDA reporting. Learn key rules, fines and compliance impact for exchanges and taxpayers.

Changes in Income from House Property from April 2026

Posted by Chaitra Seetharam 13 February 2026 803 Views

The Union Budget 2026 proposed targeted amendments to the rules governing Income from House Property, effective April 1, 2026, bringing the Income-tax Act, 2025...

Buy-Back Gains Now Taxed as Capital Gains

Posted by Chaitra Seetharam 12 February 2026 198 Views

Union Budget 2026 restores capital gains taxation on share buybacks, effective April 1, 2026, abolishing the company-level buyback tax. Shareholders will now pay tax only on net capital gains based on holding period, replacing the earlier dividend-style taxation model.