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: 11/17/2025
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.
Created on: 11/11/2025
TDS Rate Chart FY 2025-26 (AY 2026-27)
This blog provides a simplified overview of the latest Tax Deducted at Source (TDS) rates for FY 2025-26 (AY 2026-27). It highlights key changes in thresholds, presents a clear rate chart for residents, and offers practical compliance tips for taxpayers.
Created on: 11/10/2025
Did Your Large Cash Deposit Trigger an Income Tax Notice? Don't Panic!
Large cash deposits in bank accounts often trigger Income Tax notices in India. Banks are required to report high‑value transactions, and the ITD may ask for clarification if deposits exceed thresholds. With proper documentation like invoices, sale deeds, or gift deeds you can explain the source of funds and avoid heavy taxes or penalties. Notices are not accusations but part of routine scrutiny.
Created on: 11/06/2025
Intimation U/S 143(1): Your ITR is Processed Here's How to Respond
The Intimation under Section 143(1) is a routine message from the Income Tax Department after processing your ITR. It may confirm your return, show a refund, or raise a tax demand. This blog explains how to read the notice, respond correctly, and avoid penalties.
Created on: 11/06/2025
Pay Zero Tax on 10 Crore Capital Gains: Your Guide to Strategic Reinvestment
Selling a big asset like property, stocks, or gold can lead to huge capital gains and a big tax bill. But if you reinvest smartly, you can claim full exemption under Section 54 or 54F, up to ₹10 Crore. This blog explains how to do it, the deadlines, and the rules to follow.
Created on: 11/06/2025
Can You Claim Business Expenses During a No-Income Period?
This blog explains whether a business can claim deductions for expenses like rent, salaries, and utilities during a period of zero income. It focuses on Section 37(1) of the Income Tax Act and clarifies the difference between an idle business and one that never started. Includes a checklist to help taxpayers understand eligibility.