How to File Your ITR: Key Deadlines, Fees, and Tax Regimes
Source: PIB Filing your Income Tax Return (ITR) is an important step to stay compliant with the law.…
Section 44AE of Income Tax Act: Presumptive Taxation Scheme for Transporters
Tax compliance can often be challenging for small businesses, especially transport operators who manage trucks and lorries. Recording…
Section 80JJAA: Income Tax Deduction for New Employment Generation
Section 80JJAA was introduced to motivate businesses to increase employment. It acts as a bridge between economic growth…
Section 45(5A) of Income Tax Act: Capital Gains Tax on Joint Development Agreements
Joint Development Agreements (JDAs) are common in the real estate sector, where landowners provide land to developers in…
Section 270A of the Income Tax Act: Penalty for Under-Reporting and Misreporting of Income
Section 270A is a key provision of India’s Income Tax Act that deals with penalties for under-reporting and…
Section 269SU of Income Tax Act: Mandatory Acceptance of Digital Payments
India’s economy has been changing fast. Over the past decade, the government has been encouraging people and businesses…
Section 44ADA of Income Tax Act: Presumptive Taxation Scheme for Professionals
Presumptive taxation is a simplified way of paying taxes. Normally, professionals like doctors, lawyers, consultants, or freelancers must…
Section 250 of Income Tax Act: Appeal Procedure before Commissioner (Appeals)
Taxes fund essential services like schools, hospitals, and roads. But sometimes, the tax department may claim you owe…
Section 148A of Income Tax Act: Procedure Before Issue of Notice for Income Escaping Assessment
What is Section 148A? Section 148A was introduced by the Finance Act, 2021, to make the reassessment process…
Section 148 of Income Tax Act: Notice for Income Escaping Assessment, Procedure, and Time Limits
What is Section 148? Section 148 of the Income Tax Act empowers the Assessing Officer (AO) to reassess…