For small businesses and professionals in India, understanding Sections 44AA, 44AB, 44AD, and 44ADA of the Income Tax Act, 1961, is essential for smooth tax compliance. This guide explains how these sections apply for the Financial Year 2024-25 (Assessment Year 2025-26). It covers necessary bookkeeping, tax audit rules, and the simplified presumptive taxation schemes that can greatly lessen the compliance burden for qualified taxpayers.

The Central Board of Direct Taxes (CBDT) has announced significant relief for taxpayers. A new circular extends deadlines for correcting income tax returns that were incorrectly invalidated by CPC-Bengaluru for Assessment Year 2023-24 and also provides an extended period to rectify returns where income was mistakenly excluded from assessment. This move aims to simplify compliance and ensure accurate tax records for citizens.

In a major relief for Indian taxpayers, the Central Board of Direct Taxes (CBDT) has waived demands for short TDS deduction arising from payments to inoperative PAN holders. This addresses the widespread issue where deductors received tax notices for not applying the higher TDS rate mandated for unlinked PANs. This blog details the conditions of this relief as per CBDT Circular No. 9/2025, outlines the crucial deadlines like September 30, 2025, and explains the actionable steps for both deductors and deductees to benefit from this waiver and ensure future compliance.

This blog post details how the Central Board of Direct Taxes (CBDT) has granted "54EC status" to IREDA bonds, offering property sellers a significant tax exemption of up to 50 lakh on long-term capital gains. It explains what 54EC bonds are, why IREDA's inclusion is beneficial for both investors and India's green energy goals, how the tax exemption works, key investment considerations like limits and lock-in periods, and who can invest. The post highlights the advantages of investing in these safe, fixed-return bonds while contributing to a sustainable future.

This blog post explains the important relief offered by CBDT Circular No. 9/2025, dated July 22, 2025, about higher TDS/TCS rates for transactions with inoperative PANs. It describes how deductors and collectors will not be held responsible for short deductions or collections if the deductee's or collectee's PAN is made operative within certain time frames, specifically by September 30, 2025, for past transactions and within two months from the end of the month for future ones. The summary underscores the circular's importance in tackling taxpayer complaints, easing the compliance load, and encouraging PAN-Aadhaar linkage. It urges readers to grasp the new rules and take action quickly.

Big news for legal aid. The CBDT Notification S.O. 3204(E) gives important income tax exemptions to District Legal Service Authorities in Haryana, including Gurgaon, Mewat, and others, starting from AY 2025-26. Discover which income is exempt and the conditions that apply.

The Central Board of Direct Taxes (CBDT) has announced the Cost Inflation Index (CII) for FY 2025-26 as 376. This blog post explains what CII is, how the new index will be applied from AY 2026-27, who it impacts, and provides an example of how it reduces taxable long-term capital gains, particularly for real estate acquired before July 23, 2024. It highlights the importance of understanding this update for accurate tax filing.

This blog post summarizes CBDT Circular No. 8/2025, which clarifies that interest waivers for delayed TDS/TCS payments due to technical issues can apply to past charges, provided applications meet the one-year deadline

This blog post provides a comprehensive overview of the significant income tax changes coming into effect in India from July 1, 2025. It details the more attractive new tax regime with revised slabs and increased deductions, the extended ITR filing deadline, the mandate for Aadhaar in PAN applications, and the real-time PAN-bank linking system. Furthermore, it touches upon the updated ITR forms and the broader proposals of the Income Tax Bill 2025, offering taxpayers crucial insights for compliance and effective tax planning.

The Income Tax Department has begun dispatching scrutiny notices under Section 143(2) for AY 2024-25. This blog provides a detailed guide on understanding these notices, common reasons for their issuance, a step-by-step response strategy, and essential tips to prevent future scrutiny, ensuring taxpayers can navigate the process effectively.

This summarized blog post explains the latest CBDT circular (dated June 25, 2025) that extends the processing deadline for specific Income Tax Returns (ITRs). It covers who benefits from this relief (ITRs filed electronically on or before March 31, 2024, with condoned delay), the new processing deadline of March 31, 2026, and important exceptions, offering clarity to taxpayers.

This blog analyzes India's direct tax collections for FY 2025-26 (as of June 19, 2025). While net collections show a slight dip, the detailed breakdown reveals robust gross collection growth and a significant increase in tax refunds, reflecting enhanced taxpayer services. Positive advance tax figures further signal underlying economic strength and optimistic future expectations, painting a picture of resilience rather than slowdown