Income tax
Understanding income tax is crucial for managing your finances. Discover how income tax works, learn about tax brackets, deductions, and credits. Stay informed about changes in tax laws and filing requirements. Navigate the world of taxation with confidence and ensure you make the most of your financial opportunities.
Created on: 11/21/2025
Finally! The 2025 Capital Gains Relief Scheme is Making Life Easier
The 2025 Amendment Scheme has modernised the Capital Gains Account Scheme (CGAS) by making it digital-first and easier to use. Taxpayers can now deposit capital gains online through Net Banking, UPI, RTGS, or NEFT, with the deposit date clearly defined. Electronic statements replace passbooks, more banks are authorised to manage CGAS accounts, and simpler ITR forms are on the way. With broader exemptions like Section 54GA included, the scheme reduces stress and makes compliance smoother for property sellers, NRIs, and businesses.
Created on: 11/20/2025
Internal Audit Goes Digital: The Race for Real-Time Assurance
Internal audit is changing fast. The old yearly audit model is no longer enough in today’s business world of massive data, instant transactions, and rising cyber threats. Companies now face complex fraud and faster risks, which means audit teams must adopt technology to provide real-time assurance. With tools like AI, data analytics, RPA, and blockchain, audits can detect risks instantly, prevent losses, and give management real-time insights. By building a clear technology roadmap, upskilling auditors, and focusing on business value, internal audit can move beyond compliance to become a strategic partner that strengthens risk management and supports smarter decisions.
Created on: 11/20/2025
Why Your Tax Refund Is Delayed and What CBDT Wants You to Know
Many taxpayers are waiting for refunds, especially where the refund is large. The Central Board of Direct Taxes (CBDT) is closely checking high-value and flagged returns to stop fake claims and tax cheating. This guide explains the main reasons for delays, which cases get compulsory scrutiny, and simple steps you can take now to clear your refund faster.
Created on: 11/19/2025
Tax Refunds Update: High-Value Claims Under Scrutiny, Legitimate Payouts Expected by December 2025
The Income-Tax Department is closely reviewing high-value refund claims flagged for potential discrepancies. While smaller refunds are already being processed, CBDT Chairman Ravi Agrawal has assured taxpayers that legitimate high-value payouts will be cleared by December 2025. Refund claims worth ₹2.42 lakh crore have been filed till November 10, showing an 18% drop from last year. The department has also increased appeal disposals by 40% and remains confident of meeting its ₹25.20 lakh crore direct tax collection target for FY26, supported by 6.99% growth. Leveraging AI-powered tools, the CBDT is enhancing compliance, monitoring taxpayer behavior, and identifying potential evasion
Created on: 11/19/2025
New Income Tax Return Forms and Rules: What You Need to Know
The government is set to introduce simplified income tax return forms under the Income Tax Act, 2025 by January 2026, replacing the long-standing Income Tax Act, 1961. These new forms aim to make tax filing easier, reduce compliance burdens, and improve transparency. Refunds are being processed, with larger claims expected by December 2025. The CBDT is confident of meeting its ambitious ₹25.20 lakh crore direct tax collection target for FY26, supported by strong growth. Taxpayers should prepare for the new system, which takes effect from April 1, 2026.
Created on: 11/17/2025
Fueling Indian R&D: CBDT’s Approval under Section 35(1)(iia) | 100% Tax Deduction for Innovation
The CBDT has issued Notification No. 4/2025 under Section 35(1)(iia) of the Income Tax Act, granting approval to a company for scientific research and development. Contributions made to the approved entity qualify for a 100% tax deduction, encouraging businesses to support innovation while reducing their tax burden. This move strengthens India’s R&D ecosystem and promotes industry-science collaboration.
Created on: 11/17/2025
CBDT’s New Rules: Faster Tax Refunds and Easier ITR Corrections
The CBDT has empowered the CPC Bengaluru with concurrent jurisdiction under Section 154 to rectify obvious errors in ITRs like missed TDS/TCS credits, relief miscalculations, and interest under Section 244A—leading to faster refunds, reduced compliance burden, and greater transparency. Effective from October 27, 2025 (Notification No. 155/2025), this centralized approach streamlines rectifications and allows demand notices under Section 156 where needed.
Created on: 11/15/2025
Reels, Revenue, and Returns: Tax Rules for Creators Earning from Facebook & Instagram Reels
The creator economy is booming, but taxes are unavoidable. This blog explains how income from Facebook and Instagram Reels is treated under Indian tax laws, covering ITR filing, deductions, TDS rules, and GST registration.
Created on: 11/15/2025
Tax Alert: Got an Income Tax Notice for Buying Property in Wife’s Name? Here’s What to Do
Buying property in your wife’s name can trigger an Income Tax Notice. This guide explains the spouse exemption under the Benami Act, how Section 64 clubbing works, and the exact documents and steps to respond. Act fast, stay transparent, and keep your paperwork ready.
Created on: 11/14/2025
Rise of the Machine: How AI is Changing Tax Compliance in India
India’s tax system is being reshaped by AI and Big Data. Through Project Insight, the Income Tax Department now tracks bank data, investments, and lifestyle transactions in real time, flagging anomalies and ensuring compliance.
Created on: 11/14/2025
EPFO Stops UAN Activation on Portal Here’s the New Way
EPFO has stopped UAN activation on its Member Sewa portal. The process is now available only through the UMANG App using Aadhaar-based Face Authentication. This ensures better security, fraud prevention, and smoother services.
Created on: 11/13/2025
Supreme Court Protects CAs: Issuing Form 15CB Is Not Money Laundering
The Supreme Court of India has upheld that Chartered Accountants cannot be prosecuted for money laundering simply for issuing Form 15CB, as it is a statutory duty under the Income Tax Act. This ruling protects professionals from being unfairly targeted and clarifies the limited role of CAs in compliance matters.