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Ca Ajit Shah

Latest Posts by Ca Ajit Shah

Income Tax Bill 2025: Key Proposals and Simplifications

March 15, 2025 900 Views 0 comment Print

Discover key changes in the Income Tax Bill 2025, including enhanced rebates, simplified trust provisions, and extended registration periods for small institutions.

Rationalization of Time limits to Impose Income Tax Penalties

March 5, 2025 708 Views 0 comment Print

Simplified penalty timelines under Section 275 effective April 2025, including changes in penalty powers, omissions, and clarifications on Section 271AAB.

Unexplained Income and Investments: Sections 69A and 69B

March 2, 2025 1086 Views 0 comment Print

Overview of Income Tax Sections 69A, 69B, on unexplained income, investments, and expenditures. Key cases and interpretations included.

Income Tax Bill 2025: Provisions Relating to TDS & TCS

February 21, 2025 9069 Views 1 comment Print

Income Tax Bill 2025 introduces changes to TDS, TCS, and LRS provisions, raising threshold limits and reducing compliance burdens. Effective from April 1, 2025.

Union Budget 2025: Key Tax Reforms and Highlights

February 7, 2025 2106 Views 0 comment Print

Union Budget 2025 introduces tax reforms, including zero tax up to ₹12 lakh income, reduced TDS/TCS compliance, and exemptions on life-saving drugs and EV components.

When Do Section 68 and Section 69 of Income Tax Apply?

January 29, 2025 1623 Views 0 comment Print

Understand the applicability of Section 68 (cash credit) and Section 69 (unexplained investments) under the Income Tax Act with relevant case law examples.

Expectations of Tax Payers in Budget 2025-26

January 24, 2025 1647 Views 1 comment Print

Explore key taxpayer expectations for Budget 2025-26, including revised tax slabs, increased deductions, and simplified compliance for individuals and charitable trusts.

Taxability of Leave Encashment at the Time of Retirement

December 22, 2024 17586 Views 0 comment Print

Understand the taxability of leave encashment, gratuity, and voluntary retirement benefits, with exemptions and limits under the Income Tax Act, 1961.

Reimbursement of actual expenditure incurred is not income of employee

December 12, 2024 1728 Views 0 comment Print

Reimbursement of expenses, scholarships, and stipends are not considered taxable income, as clarified by various High Court rulings under Section 10(16).

Exempted Perquisites for Salaried Taxpayers Under Income Tax Act

December 7, 2024 2256 Views 0 comment Print

Exempted perquisites for salaried taxpayers, including medical, food, phone facilities, gifts, and more under the Income Tax Act, 1961.

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