Large cash deposits, credit card spending, FDs, and UPI transactions are monitored by tax authorities. Taxpayers must ensure their transaction volumes align with declared income to avoid scrutiny.
AY 2026-27 requires structured reporting of long-term and short-term gains from shares and mutual funds. Particular attention is needed for shares acquired before January 31, 2018, where scrip-wise reporting remains mandatory.
This guide explains how taxpayers can select the correct ITR form based on their income profile and tax status. It highlights eligibility conditions and common mistakes that may lead to defective return notices.
The new labor codes introduce a uniform wage definition and the 50% exclusion cap, significantly impacting salary structures and statutory liabilities. Chartered Accountants must reassess CTC designs to ensure compliance.
The Bill proposes later return filing deadlines, longer revision windows, and electronic TDS certificate mechanisms. The key takeaway is reduced compliance pressure and fewer procedural disputes.
This explains how salary income is taxed under Sections 15 to 19 of the 2025 Act. The key takeaway is that both cash and non-cash employment benefits are comprehensively covered.
Breaks down the new mandate that key expenses—taxes, PF, interest, leave encashment, and MSME dues—are deductible only on actual payment. Highlights major compliance changes and exceptions.
ITR Forms 1 & 4 for AY 2025-26 are notified with changes including LTCG reporting, presumptive taxation limits, and additional disclosure requirements.
Understand new Tax Bill 2025’s Sections 3 & 4. Learn about tax year definition and simplified income tax charge structure starting 1st April 2026.
Explore simplified summary of 10 important changes in Union Budget 2025 concerning direct taxes. Understand new income tax rates, MSME criteria, TDS thresholds, and more.
