# incometaxindi
12 posts in `incometaxindi` tag
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.
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By Krishna
EPF Interest Tax Rule 2025: What You Need to Know
The EPF interest taxation rule introduced in 2021 is now a permanent reality in 2025. Contributions above 2.5 lakh (5 lakh for government employees without employer contribution) attract tax on interest. EPFO maintains separate taxable and non-taxable accounts, with TDS applied on taxable interest. High earners must now plan carefully, track contributions, and explore other investment options to optimize returns.
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By Krishna
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.
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By Krishna
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.
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By Krishna
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.
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By Krishna
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.
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By Krishna
Difference Between Refund Issued and Refund Credited in Income Tax
This guide clarifies the distinction between the two common income tax refund statuses, "Refund Issued" and "Refund Credited." Learn what each status means, the complete refund timeline, key differences, and how to check your refund status for a smoother tax experience
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By Krishna
Tax Refunds Can’t Be Denied for Form 26AS Mismatch: High Court Ruling
The Allahabad High Court has ruled that tax refunds cannot be denied just because TDS is missing from Form 26AS. If a taxpayer provides valid Form 16A certificates, the Income Tax Department must verify the claim with the deductor instead of rejecting it outright. This protects honest taxpayers from delays caused by clerical errors.
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By Krishna
Default Isn’t Always Best: How to Choose the Right Tax Regime in 2025–26
India's income tax system has undergone a major shift for FY 2025–26, with the New Tax Regime now set as the default. This blog breaks down the differences between the New and Old Regimes, compares tax slabs, and helps taxpayers decide which option suits them best. Whether you're a young professional or a seasoned investor, understanding these changes is key to smarter tax planning.
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By Krishna
ITAT Ahmedabad: No Penalty for Late TDS Remittance under Section 271C
In a landmark ruling, ITAT Ahmedabad has held that penalty under Section 271C of the Income Tax Act is not applicable for delayed remittance of TDS, provided the tax was deducted and paid with interest. This decision, based on Supreme Court precedent, offers relief to taxpayers facing procedural delays.
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By Krishna
Income Tax AY 2024–25: Understanding Section 115BAC Rules
Section 115BAC introduces a simplified tax structure with reduced slab rates, but at the cost of foregoing key exemptions and deductions. Effective from AY 2024–25 as the default regime, this blog explains the revised tax slabs, outlines the benefits that are no longer available, and guides taxpayers on choosing between the new and old regimes based on their financial profile and investment habits.
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By Krishna
Request for Extension of Income Tax Filing Deadlines for AY 2025–26
Due to persistent technical issues with the Income Tax portal and delayed release of filing utilities, MP P.C. Gaddigoudar has formally requested the Finance Ministry to extend the due dates for filing returns and audit reports under Section 139(1) and 3CA/3CB-3CD for AY 2025–26. This blog highlights the proposed changes and why they matter to professionals and small businesses.
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By Krishna