Introduction Section 44ADA of the Income Tax Act is a presumptive taxation scheme designed specifically for resident individual professionals to simplify their tax compliance . Under section 44ADA, individuals can […]
Presumptive Taxation – Section 44ADA Read More »
What is section 44AD? Section 44AD of the Income Tax Act is a presumptive taxation scheme introduced to help small taxpayers to simplify their tax compliance. It allows eligible businesses
Presumptive Taxation – Section 44AD Read More »
Imagine you’re a shareholder, and your company hands you a gift. Bonus issue of shares, free of charge. It feels like striking gold! But then a question creeps in: could
Bonus Shares and Taxes: Decoding Section 56(2)(x) Read More »
The disclosure of foreign assets and income in Income Tax Returns (ITR) is a critical requirement for Indian residents to ensure compliance with tax laws and promote transparency in cross-border
What is Advance Tax Advance Tax is the payment of tax in advance during the financial year in order to avoid lumpsum payments at the end of the year and
Advance Tax – Who needs to pay & How to pay? Read More »
The Income Tax Department on 30th May 2025 has released the Excel Based utility for ITR-1 & ITR-4. Applicability of ITR-1 & ITR-4 ITR-1 is applicable to Individual assessees being
Major Changes in ITR-1 & ITR-4 Read More »
Compliance Calendar June 2025 compiles the compliances for the month of June 2025 as per Income Tax, GST , PF ,ESI and Company Laws. Compliances as per Income Tax Act
Compliance Calendar June 2025 Read More »
Introduction Capital Gains arises on sale of a capital assets. The gain value arises when the sale consideration is higher than the cost of acquisition. There are two types of
Capital Gain Exemptions – under section 54 Read More »
E-filing for AY 2025-26 starts on May 30, 2025. Excel utility for ITR-1 & ITR-4 is released. Due to Budget 2024 changes.
E-Filing of ITR 1 & 4 for AY 2025-26 enabled. Read More »
The Income Tax department has released a TDS Rate Chart as amended by the Finance Act (No. 2), 2024 applicable to the Assessment Year 2025-26 (Finanancial Year 2024-25). The same
TDS Rate Chart – A.Y. 2025-26 Read More »
