Finexo Software

Income-tax Act, 2025 guides for CA firms and taxpayers

The Income-tax Act, 2025 came into force on 1 April 2026 and renumbered the law most practitioners knew by heart. These guides explain one topic at a time, such as TDS on rent, with the section of the Act and the rule that sets the due date or form next to every figure, so you can check each one.

Each guide is checked against the text of the Act (as amended by the Finance Act, 2026) and the Income-tax Rules, 2026, and says which version it follows.

Basics & Transition

Income Tax Act 2025 Explained: What Changes From 1 April 2026

Income-tax Act, 2025 starts 1 April 2026 and repeals the 1961 Act. See what 'tax year' means, what carries over, and which old-law cases continue.

Repeal and Savings Under the Income Tax Act 2025: Which Old-Law Proceedings Continue (Section 536)

Section 536 of the Income-tax Act, 2025 repeals the 1961 Act but saves pending cases, notices, penalties, losses and credits. See what continues.

Tax Year vs Previous Year and Assessment Year: The New Concept in the Income Tax Act 2025

The Income Tax Act 2025 uses one term, tax year, for 1 April to 31 March. See section 3, the new-business rule, ITR due dates and worked examples.

Taxpayer's Charter under the Income Tax Act 2025: What Section 240 Says

Section 240 of the Income-tax Act, 2025 makes the CBDT adopt and declare a Taxpayer's Charter. What it requires, what it leaves open, and how to use it.

Residency & Scope

Foreign Company Treated as Resident in India (Place of Effective Management): Income Tax Act 2025

When a foreign company is resident in India under the Income Tax Act 2025: the place of effective management test, section 220 relief and breach.

Goa Communion of Property: How Spouses' Income Is Split Under the Income Tax Act 2025 (Section 10)

Section 10 of the Income-tax Act, 2025: how income of Goa spouses under the Portuguese Civil Code is divided 50:50, why salary is not, and ITR forms.

Income Deemed to Accrue or Arise in India: Business Connection and Significant Economic Presence (Income Tax Act 2025)

Section 9 of the Income-tax Act, 2025 explained: business connection, significant economic presence (Rs 2 crore), royalty, FTS and indirect transfers.

Income Deemed to Be Received and Dividend Deemed Income: Section 7, Income Tax Act 2025

Section 7 of the Income-tax Act, 2025: which PF and pension contributions are deemed received, and which tax year a dividend or interim dividend is taxed in.

Residential Status in India 2026-27: Resident, RNOR and Non-Resident Rules (Income Tax Act 2025)

How residential status works under the Income-tax Act, 2025: 182-day and 60-day tests, the 120-day rule, deemed residents, RNOR, HUFs and companies.

Scope of Total Income: What Is Taxable for Residents vs Non-Residents (Income Tax Act 2025)

Section 5 of the Income-tax Act, 2025 explained: what a resident, a not ordinarily resident and a non-resident are taxed on, with examples for 2026-27.

Exempt Income

Exempt Income of Eligible Persons: Schedule III of the Income Tax Act 2025 Explained

Schedule III of the Income Tax Act 2025 lists income that is not taxed for specific eligible persons, with conditions. See who qualifies, with examples.

Exempt Income of Non-Residents and Foreign Companies: Schedule IV of the Income Tax Act 2025

Which income of non-residents and foreign companies is exempt under Schedule IV of the Income-tax Act, 2025: NRE interest, 90-day rule, conditions and examples.

Income Exempt From Tax: Complete List from Schedule II (Income Tax Act 2025)

All 17 items of income not included in total income under Schedule II of the Income-tax Act, 2025, with the conditions that keep each one exempt.

Income of Political Parties and Electoral Trusts: Tax Exemption Conditions (Income Tax Act 2025)

Section 12 and Schedule VIII of the Income-tax Act, 2025: which income of political parties and electoral trusts is exempt, and the conditions to keep it.

IFSC Tax Exemptions Under the Income Tax Act 2025: Section 147, Section 218 and Schedule VI

IFSC tax under the Income Tax Act 2025: 100% deduction under section 147, 15% rate under section 218, Schedule VI exemptions and conditions.

Recognised Provident Fund Rules: Tax on PF Withdrawal and Contributions (Income Tax Act 2025)

Recognised provident fund under the Income-tax Act, 2025: when PF withdrawal is tax-free, 10% TDS at Rs 50,000, the Rs 7.5 lakh cap and section 191.

Tax-Exempt Persons List (Schedule VII) under the Income Tax Act 2025

Which persons pay no income tax under Schedule VII of the Income-tax Act, 2025: funds, boards, institutions, conditions, and what happens if a condition fails.

Salary

TDS on Arrears of Salary and PF Accumulated Balance (Income Tax Act 2025)

How employers deduct TDS on salary arrears and EPF accumulated balance under the Income Tax Act 2025: section 392(7) 10% rule, section 157 relief, Form 39.

Income from Salary under the Income Tax Act 2025: What Is Taxable (Sections 15 and 16)

What counts as salary under the Income Tax Act 2025: sections 15 and 16, due vs paid, advance and arrears, leave pay, pension and worked examples.

Perquisites Valuation: Car, Rent-Free Accommodation, Loans and ESOPs (Income Tax Act 2025)

How perquisites are valued under section 17 of the Income-tax Act, 2025 and rule 15 of the 2026 Rules: car, housing, loans, ESOPs, with 2026-27 examples.

Profits in Lieu of Salary: Termination, Joining and Retirement Payments (Income Tax Act 2025)

Profits in lieu of salary under section 18 of the Income-tax Act, 2025: termination compensation, joining payments, VRS deduction and section 157 relief.

Relief for Salary Received in Arrears or Advance: Section 157 and Form 39 (Income-tax Act, 2025)

How relief for arrears or advance salary works under section 157 of the Income-tax Act, 2025: who gets it, rule 73 steps, Form 39, with worked examples.

Foreign Retirement Account Tax Relief for Returning NRIs: Section 158 (Income Tax Act 2025)

Section 158 and rule 74 of the Income-tax Act, 2025: when income in a foreign retirement account is taxed on withdrawal, who qualifies, Form 40 and the limits.

Standard Deduction from Salary 2026-27: Rs 75,000 or Rs 50,000? (Income Tax Act 2025, Section 19)

Standard deduction under the Income Tax Act 2025: Rs 75,000 or Rs 50,000, plus gratuity, VRS, leave salary and other salary deductions in section 19.

House Property

Co-Owned Property: How Income Is Taxed (Section 24, Income Tax Act 2025)

How rent from jointly owned property is taxed under section 24 of the Income Tax Act 2025: share-wise income, 30% deduction, interest, self-occupied relief.

Self-Occupied and Vacant House Property: Deemed Annual Value Under the Income Tax Act 2025

How the Income Tax Act 2025 values a self-occupied, vacant or unsold stock-in-trade house: nil value for two houses, vacancy rule, interest caps.

House Property Loss Set-Off and Carry Forward (Rs 2 Lakh Cap) under the Income Tax Act 2025

House property loss under the Income Tax Act 2025: Rs 2 lakh set-off against other heads, carry forward for 8 tax years, with worked examples.

Income from House Property: Annual Value, 30% Deduction and Interest (Income Tax Act 2025)

How house property income is taxed under the Income Tax Act 2025: annual value, 30% deduction, Rs 2 lakh interest cap, vacancy, unrealised rent.

Arrears of Rent and Unrealised Rent Received Later: Tax Treatment under the Income Tax Act 2025

How rent received late is taxed under the Income Tax Act 2025: section 23 treats it as house property income in the year received, with a 30% deduction.

Business & Profession

Agricultural Extension and Skill Development Project Deduction (Income Tax Act 2025, Section 47)

Section 47 of the Income-tax Act, 2025: who can claim, how a project is notified, Form 20 to 23, audit and filing conditions, with worked examples.

Amortisation of Preliminary Expenses (Section 44): Deduction, 5% Cap and Form 5 under the Income Tax Act 2025

Section 44 of the Income-tax Act, 2025: one-fifth deduction over 5 years for preliminary expenses, the 5% cap, Form 5, Form 6 audit and worked examples.

Bad Debt Deduction and Provision for Doubtful Debts under the Income Tax Act 2025 (Section 31)

Section 31 of the Income-tax Act, 2025: when a bad debt write-off is deductible, who can claim a provision for doubtful debts, limits of 8.5% and 5%.

Business Income and Allowable Deductions under the Income Tax Act 2025: Sections 26, 28 and 34

Business income under the Income Tax Act 2025: what counts, how rent, repairs and insurance are deducted, and which expenses never are (sections 26, 28, 34).

Co-operative Bank Amalgamation, Demerger and Conversion: Depreciation and Deduction Split (Income Tax Act 2025)

How section 64 of the Income Tax Act 2025 splits depreciation and amortisation between predecessor and successor co-operative banks, with examples.

100% Deduction for Capital Expenditure of Specified Business: Section 46, Income Tax Act 2025

Section 46 of the Income-tax Act, 2025: 100% deduction of capital expenditure for specified businesses, the 13-row table, conditions, 8-year rule, Form 32.

Actual Cost of an Asset for Depreciation Under Income Tax Act 2025 (Section 39 and 40)

How actual cost is computed under section 39 of the Income-tax Act, 2025: GST credit, subsidy, Rs 10,000 cash limit, gifts, amalgamation, section 40 stock.

Deemed Business Profits under the Income Tax Act 2025: Sums Taxed as Business Income (Section 38)

Section 38 of the Income-tax Act, 2025 taxes liability write-offs, recovered bad debts, asset sale excess and reserve withdrawals as business income.

Depreciation Under Income Tax Act 2025: Rates, Block of Assets and Written Down Value

Depreciation under the Income-tax Act, 2025: block of assets, common rates 5% to 40%, WDV formula, half-rate rule, extra 20%, carry forward.

Employee Welfare Deductions: PF, Gratuity and Superannuation for Employers (Income Tax Act 2025)

Section 29 of the Income-tax Act, 2025: employer deductions for PF, superannuation, NPS (14% of salary) and gratuity, with timing rules and examples.

Disallowed Business Expenses: Sections 35 and 36 Checklist (Income Tax Act 2025)

Which business expenses are disallowed under the Income Tax Act 2025: TDS default (30%), cash over Rs 10,000, partner pay limits and related-party costs.

Foreign Exchange Fluctuation: Capitalisation and Taxation under the Income-tax Act, 2025

How exchange-rate gains and losses are taxed under the Income-tax Act, 2025: capitalising on imported assets (section 42) and the general rule (section 43).

Head Office Expenditure of Non-Residents: 5% Cap Under Income Tax Act 2025 (Section 60)

Section 60 of the Income Tax Act 2025 lets non-residents deduct head office expenditure up to 5% of adjusted total income. See the loss-year rule and examples.

Insurance Business Income Computation under the Income Tax Act 2025 (Section 55, Schedule XIV)

How profits of life, non-life and non-resident insurers are computed under section 55 and Schedule XIV of the Income-tax Act, 2025, with worked examples.

Business Deduction for Rent, Rates, Repairs and Insurance Premium: Sections 28 and 30 of the Income Tax Act 2025

Sections 28 and 30 of the Income Tax Act 2025: which rent, municipal tax, repairs and insurance premium a business can deduct, with worked examples.

Interest on Bad and Doubtful Debts: Section 56 for Banks and Financial Institutions (Income Tax Act 2025)

Section 56 of the Income Tax Act 2025: when a bank or specified financial institution pays tax on interest from bad or doubtful debts, and rule 42 tests.

Maintenance of Books of Account: When It Is Mandatory (Income Tax Act 2025)

When books of account are mandatory under section 62 of the Income-tax Act, 2025: income and turnover limits, specified professions, rule 46, 7-year retention.

Deductions Allowed Only on Actual Payment: Section 37 of the Income Tax Act 2025

Section 37 of the Income Tax Act 2025: taxes, PF, leave pay, bank interest and MSME dues are deductible only when paid. Grace period, examples, Form 26.

Presumptive Taxation for Small Businesses and Professionals: Section 58 of the Income-tax Act, 2025

Presumptive taxation under section 58 of the Income-tax Act, 2025: 6% / 8% for businesses, 50% for professionals, goods carriage rates, limits and audit rules.

Prospecting for Minerals and Mineral Oils: Tax Deduction under the Income Tax Act 2025 (Sections 51 and 54)

How the Income-tax Act, 2025 treats mineral prospecting costs (section 51, one-tenth a year for 10 years) and oil exploration (section 54), with examples.

Revenue Recognition for Construction and Service Contracts: Section 57 of the Income Tax Act 2025

Section 57 of the Income Tax Act 2025: percentage of completion, project completion (90 days) and straight line methods, retention money and worked examples.

Scientific Research Expenditure Deduction under the Income Tax Act 2025 (Section 45): Who Can Claim and How

Section 45 of the Income-tax Act, 2025: deduction for in-house R&D, pre-commencement research and payments to approved bodies, with forms and examples.

Site Restoration Fund Deduction under the Income Tax Act 2025: Section 49 and Schedule X

Section 49 and Schedule X of the Income-tax Act, 2025: the 20% cap, deposit conditions, Form 183 audit report, withdrawal tax and asset-sale rule.

Tax Audit: Who Needs It, Limits and Due Date (Income-tax Act, 2025)

Tax audit under section 63 of the Income-tax Act, 2025: Rs 1 crore and Rs 10 crore business limits, Rs 50 lakh for professionals, due date and fee.

Tea, Coffee and Rubber Development Account Deduction 2026-27 (Income Tax Act 2025, Section 48)

Section 48 and Schedule IX of the Income Tax Act 2025: deduction for deposits in tea, coffee and rubber development accounts, 40% cap, audit and withdrawal tax.

Amortisation of Amalgamation, VRS, Spectrum and Licence Fee Expenses (Income Tax Act 2025, Section 52)

Section 52 of the Income-tax Act, 2025 spreads amalgamation, VRS, spectrum and licence fee costs over several years. Rules, examples and common mistakes.

Trade and Professional Associations: Special Tax Provision, Section 50 (Income-tax Act, 2025)

Section 50, Income-tax Act 2025: a trade or professional association can deduct its common-interest spending shortfall over member receipts, capped at 50%.

Capital Gains

Advance Money Forfeited on a Property Deal: Tax Treatment under the Income Tax Act 2025

How forfeited advance on a failed property deal is taxed under the Income Tax Act 2025, and how section 81 adjusts your cost of acquisition later.

Buyback of Shares: Capital Gains Treatment and Promoter Tax (Income Tax Act 2025)

Buyback of shares under the Income Tax Act 2025: taxed as capital gains from 1 April 2026, plus extra tax of 2%, 10%, 9.5% or 17.5% for promoters.

Capital Gain Bonds Exemption (NHAI, REC) under the Income Tax Act 2025: Section 85 Explained

Section 85 of the Income-tax Act, 2025: invest long-term gains from land or building in NHAI or REC bonds within 6 months, up to Rs 50 lakh, 5-year hold.

Capital Gains on Depreciable Assets: Block of Assets Rules under the Income Tax Act 2025

How sections 74 and 75 of the Income-tax Act, 2025 tax the sale of depreciable assets: block of assets, deemed short-term gain and worked examples.

Capital Gains on Liquidation of a Company: How Shareholders Are Taxed (Income-tax Act, 2025)

How a shareholder is taxed on money or assets received when a company is liquidated under section 68 of the Income-tax Act, 2025, with worked examples.

Short-Term vs Long-Term Capital Gains: Holding Period and Tax Rates (Income Tax Act 2025)

Short-term vs long-term capital gains under the Income Tax Act 2025: 12 and 24 month holding periods, 20% and 12.5% rates, Rs 1.25 lakh limit, examples.

Cost of Acquisition, Indexation and Cost of Improvement (Income Tax Act 2025)

How cost of acquisition, cost of improvement and indexation work under the Income-tax Act, 2025, with worked examples for property, gifts and shares.

Exemption on Agricultural Land Transfer and Compulsory Acquisition: Sections 83 and 84, Income Tax Act 2025

How sections 83 and 84 of the Income Tax Act 2025 defer capital gains on agricultural land and acquired industrial land: time limits, deposit, examples.

Full Value of Consideration: Stamp Duty Value and Fair Market Value Rules (Income-tax Act, 2025)

When stamp duty value or fair market value replaces your sale price for capital gains under the Income-tax Act, 2025: sections 78-80, the 110% band, examples.

Market-Linked Debentures and Slump Sale Capital Gains: Sections 76 and 77 of the Income Tax Act 2025

How sections 76 and 77 of the Income Tax Act 2025 tax market-linked debentures, unlisted bonds and slump sale, with net worth, Form 28 and worked examples.

Reference to Valuation Officer for Capital Gains: Section 91, 15% and Rs 10 Lakh Test (Income Tax Act 2025)

When can the Assessing Officer refer a capital asset to a Valuation Officer under section 91 of the Income-tax Act, 2025? Triggers, 15% / Rs 10 lakh test.

Capital Gains Exemption on Sale of House: Reinvestment Rules under Income Tax Act 2025 (Section 82)

Section 82 of the Income-tax Act, 2025: how reinvesting long-term gains from a house sale in a new house is exempt, time limits, Rs 10 crore cap and deposits.

Capital Gains Exemption on Shifting an Industrial Undertaking: Sections 87, 88 and 89 (Income Tax Act 2025)

Capital gains exemption when an industrial undertaking shifts out of an urban area or to an SEZ, plus extra time after compulsory acquisition. Sections 87-89.

Tax on Long-Term Capital Gains: Rates and Special Cases (Income Tax Act 2025)

Long-term capital gains tax under the Income Tax Act 2025: 12.5% rate, Rs 1.25 lakh equity exclusion, the STT condition and the pre-23 July 2024 land rule.

Tax on Short-Term Capital Gains 2026-27: 20% Rate under Income Tax Act 2025

Tax on short-term capital gains under the Income Tax Act 2025: 20% on STT-paid equity, 12-month rule, basic exemption shortfall, worked examples.

Transactions Not Regarded as Transfer: Gift, Family Partition, Reorganisation (Income-tax Act, 2025)

Section 70 of the Income-tax Act, 2025 lists transfers that do not attract capital gains: gifts, HUF partition, wills, mergers, demergers. Rules and examples.

Withdrawal of Capital Gain Exemption: Section 71 of the Income Tax Act 2025 Explained

Section 71 of the Income-tax Act, 2025 takes back the capital gains exemption on group transfers, succession and conversion if conditions break.

Other Sources & Clubbing

Clubbing of Income: Spouse, Minor Child and Daughter-in-Law (Income-tax Act, 2025)

Clubbing of income under section 99 of the Income-tax Act, 2025: spouse, minor child and son's wife rules, exceptions, which parent is taxed, and section 100.

Income from Other Sources: Gifts, Interest, Dividends and Winnings (Income-tax Act, 2025)

Income from other sources under the Income-tax Act, 2025: taxable gifts above Rs 50,000, winnings at 30%, family pension deduction, insurance and examples.

Transfer of Income Without Transfer of Assets and Revocable Transfers: Sections 96, 97 and 98 (Income Tax Act 2025)

Income Tax Act 2025 sections 96, 97 and 98: when income given to someone else is still taxed in your hands, and how a revocable transfer is treated.

Unexplained Income

Tax Rate on Unexplained Income: 30% Under Section 195 of the Income Tax Act 2025

Unexplained income is taxed at 30% under section 195 of the Income Tax Act 2025, with no deduction or set-off of loss. Examples and common mistakes.

Unexplained Cash Credits, Investment and Expenditure: How They Are Taxed (Income Tax Act 2025)

Sections 102 to 106 of the Income Tax Act 2025: unexplained credits, investment, assets and expenditure, taxed at 30% under section 195 with no deductions.

Losses

Filing a Return to Carry Forward Losses: Section 121 of the Income Tax Act 2025

Under section 121 of the Income Tax Act 2025, a loss is carried forward only if it is determined in a return filed by the due date. Dates, examples.

Carry Forward of Losses in Amalgamation and Demerger: Income Tax Act 2025 (Sections 116, 117, 118)

Who gets the old company's business loss and unabsorbed depreciation after a merger, demerger or conversion under the Income Tax Act 2025. Sections 116-118.

No Loss Set-Off Against Undisclosed Income After a Search: Section 120, Income Tax Act 2025

Section 120 of the Income-tax Act, 2025 bars set-off of losses and unabsorbed depreciation against undisclosed income found in a search, requisition or survey.

Set-off and Carry Forward of Losses: Complete Guide (Income Tax Act 2025)

How losses are set off and carried forward under the Income Tax Act 2025: sections 108 to 112, the Rs 2 lakh house property cap and the 8-year limit.

Speculation Loss and Specified Business Loss: Set-off and Carry Forward (Income Tax Act 2025)

How speculation loss, specified business loss and race-horse loss are set off and carried forward under the Income Tax Act 2025 (sections 113 to 115).

When Loss Carry Forward Is Not Allowed: Change of Shareholding, Firms and Successors (Income Tax Act 2025)

Section 119 of the Income Tax Act 2025: the 51% voting power test for companies, partner retirement, business succession and the exceptions.

Deductions (old Chapter VI-A equivalents)

Additional Employee Cost Deduction under the Income Tax Act 2025 (Section 146)

Section 146 of the Income Tax Act 2025 allows 30% of additional employee cost for 3 years. Who qualifies, the Rs 25,000 cap, 240-day rule and Form 34.

Agnipath Scheme Deduction 2026-27: Agniveer Corpus Fund Tax Rules (Income Tax Act 2025)

Section 125 of the Income Tax Act 2025: full deduction for Agniveer Corpus Fund contributions, what survives under section 202(1), and tax-free payout.

Co-operative Society Deductions under the Income Tax Act 2025: Sections 149 and 150

Section 149 deductions for co-operative societies under the Income Tax Act 2025: which activities qualify, the Rs 1,00,000 and Rs 50,000 caps, and section 150.

Deductions from Total Income under the Income Tax Act 2025: Sections 122 to 154 Explained

Overview of Chapter VIII deductions in the Income Tax Act 2025: what sections 122 to 154 cover, the overall cap, and which deductions the default regime allows.

Deduction for Disabled Dependant and Medical Treatment 2026-27: Sections 127, 128 and 154 (Income Tax Act 2025)

Income Tax Act 2025 deductions for a disabled dependant (s.127), specified diseases (s.128) and your own disability (s.154): limits, certificates, examples

Donation Deduction 2026-27: Rates, 10% Limit and Qualifying Institutions (Income Tax Act 2025)

Section 133 of the Income-tax Act, 2025: which donations get 100% or 50% deduction, the 10% adjusted income cap, cash limit of Rs 2,000, with examples.

Donations for Scientific Research Deduction under Income Tax Act 2025 (Section 135)

Section 135 of the Income-tax Act, 2025: who can deduct donations to research bodies, the business income bar, the Rs 2,000 cash cap and how to claim.

Education Loan Interest Deduction under the Income Tax Act 2025: Section 129 Explained

Section 129 of the Income Tax Act 2025 allows individuals a deduction for interest paid on a higher education loan, for up to 8 tax years. Rules and examples.

Electric Vehicle Loan Interest Deduction (Rs 1.5 Lakh): Section 132, Income Tax Act 2025

Section 132 of the Income Tax Act 2025 allows individuals up to Rs 1,50,000 a year on electric vehicle loan interest, for loans sanctioned by 31 March 2023.

Health Insurance Premium Deduction 2026-27: Limits, Parents and Senior Citizens (Income Tax Act 2025)

Section 126 of the Income-tax Act, 2025: Rs 25,000 and Rs 50,000 limits, parents, senior citizens, check-up Rs 5,000, cash rules and multi-year premiums.

Home Loan Interest Deduction for First-Time Buyers (Sections 130 and 131, Income Tax Act 2025)

First-time buyer home loan interest deduction under sections 130 and 131, Income Tax Act 2025: Rs 50,000 and Rs 1,50,000 limits, loan dates, conditions.

House Rent Deduction Without HRA: Section 134, Income Tax Act 2025

Section 134 of the Income Tax Act 2025 lets people with no HRA deduct rent paid. See the Rs 5,000 per month cap, 25% limit, conditions, Form 31 and examples.

Housing Project and North-East Undertaking Deductions: Sections 142 and 143 of the Income Tax Act 2025

Section 142 (housing projects) and section 143 (North-East undertakings) of the Income Tax Act 2025: who qualifies, 100% deduction, ten years, Form 32.

Inter-Corporate Dividend Deduction 2026-27: Section 148 of the Income Tax Act 2025

Section 148 of the Income Tax Act 2025: how a domestic company deducts dividends received by redistributing them one month before the return due date.

Interest on Savings Deposits Deduction under the Income Tax Act 2025: Rs 10,000 and Rs 50,000 Limits (Section 153)

Section 153 of the Income-tax Act, 2025: Rs 10,000 savings interest deduction, Rs 50,000 for senior citizens, who qualifies and who does not.

Life Insurance, PPF, ELSS and Other Investments Deduction up to Rs 1.5 Lakh: Income Tax Act 2025 (Section 123)

Section 123 of the Income Tax Act 2025 allows up to Rs 1,50,000 for life insurance, provident fund, tuition fees and more. Schedule XV limits and examples.

NPS Deduction 2026-27: Employer, Own and Rs 50,000 Extra Limit (Income Tax Act 2025)

NPS and pension contribution deduction under the Income Tax Act 2025: employer 10%/14% cap, Rs 50,000 extra, new regime rules, Agnipath and withdrawal tax.

Political Party Contribution Deduction under the Income Tax Act 2025 (Sections 136 and 137)

Donations to political parties and electoral trusts under the Income Tax Act 2025: who can claim under sections 136 and 137, why cash is excluded, examples.

Profit-Linked Deductions for Undertakings (Old 80-IA, 80-IAB, 80-IB) Under the Income Tax Act 2025

How sections 138 to 141 of the Income-tax Act, 2025 carry old 80-IA, 80-IAB and 80-IB deductions forward, plus the start-up rule and Form 32 audit.

Royalty Income Deduction for Authors and Patentees: Sections 151 and 152 (Income-tax Act, 2025)

Deduction for author royalty (section 151) and patent royalty (section 152) under the Income-tax Act, 2025: Rs 3 lakh cap, conditions, Forms 36, 37, 38.

Section 87A Rebate under the Income Tax Act 2025: Section 156, Rs 60,000 Limit and Rs 12 Lakh Rule

The rebate once known as 87A now sits in section 156 of the Income-tax Act, 2025: Rs 60,000 up to Rs 12 lakh income, marginal relief above it, with examples.

SEZ Unit and Bio-degradable Waste Business Deductions: Sections 144 and 145 of the Income Tax Act 2025

Sections 144 and 145 of the Income Tax Act 2025: SEZ unit deduction carried over from section 10AA, and 100% deduction for 5 years on bio-waste businesses.

Tax Rates & Regimes

Block Assessment Tax and GDR Tax Rates: Sections 192 and 193 of the Income Tax Act 2025

Section 192 taxes undisclosed income found in a search at 60%. Section 193 taxes employee GDR dividends at 10% and gains at 12.5%. Examples included.

Corporate Tax Rates 2026-27: 22% and 15% New Manufacturing Company Regimes (Income Tax Act 2025)

Income Tax Act 2025 company tax: 22% (section 200), 15% for new manufacturers (section 201), 25% (section 199). Conditions, examples, pitfalls.

Minimum Alternate Tax (MAT) and Alternate Minimum Tax (AMT) 2026-27: Rates, Book Profit and Credit (Income Tax Act 2025)

MAT at 14% of book profit for companies and AMT at 18.5% for others under section 206 of the Income Tax Act 2025: who pays, credit rules, Forms 66 and 67.

New Tax Regime Slabs and Rates for Individuals and HUF 2026-27 (Income Tax Act 2025)

New tax regime slabs for individuals and HUF under the Income Tax Act 2025: 0% to 30% rates, Rs 12 lakh rebate, deductions allowed and how to opt out.

Tax Where Total Income Includes No-Tax Income: Section 190, Income Tax Act 2025

Section 190 of the Income Tax Act 2025 gives relief at the average rate on income that bears no tax. How to calculate it, with worked examples for 2026-27.

NRI Investment Income and Capital Gains Tax: Special Provisions under the Income Tax Act 2025

How Income Tax Act 2025 taxes NRI investment income at 20% and LTCG at 12.5%, with the reinvestment exemption, return exemption and opt-out (s. 213-217).

Switching Between Tax Regimes under the Income Tax Act 2025: Section 333 for Non-Profits

Section 333, Income Tax Act 2025: when a non-profit's registration ceases on switching regimes, how to re-apply with Form 105, and the time limits.

Tax on Lottery, Online Games and Crypto Income: 30% Under the Income Tax Act 2025 (Section 194)

Section 194 of the Income-tax Act, 2025: flat 30% on lottery, betting, online game and crypto income, no expense or loss set-off, net winnings formula.

Tax on Dividends, Royalty and Fees for Technical Services of Foreign Companies (Income Tax Act 2025, Section 207)

Section 207 of the Income-tax Act, 2025: 20% on dividend, royalty and FTS of foreign companies and non-residents, 10% IFSC dividend, no-deduction rule.

Tax on FPI and Foreign Institutional Investor Income: Rates under the Income Tax Act 2025

How FIIs, specified funds, offshore funds and non-residents with foreign-currency bonds or GDRs are taxed under sections 208-210 of the Income-tax Act, 2025.

Tax on Non-Resident Sportsmen and Sports Associations: Section 211 of the Income Tax Act 2025

Section 211 of the Income Tax Act 2025: 20% tax on non-resident foreign sportsmen, entertainers and sports associations, TDS and no-return rule.

Tax Rates for Co-operative Societies 2026-27: 22% and 15% Options (Income Tax Act 2025)

Co-operative society tax under the Income Tax Act 2025: 22% option (section 203), 15% for new manufacturing societies (section 204), conditions and trade-offs.

Transfer Pricing & Anti-Avoidance

Advance Pricing Agreement (APA) and Safe Harbour Rules: Fee, Process and Rollback under the Income Tax Act 2025

How an advance pricing agreement and safe harbour work under the Income Tax Act 2025: sections 167-169, Rs 20 lakh fee, rollback and modified return.

Dividend Stripping and Bonus Stripping: Tax Rules in Securities (Income Tax Act 2025)

Section 175 of the Income-tax Act, 2025: when a loss on shares or units bought before a record date is ignored, and how bonus stripping is treated.

Double Taxation Relief and Foreign Tax Credit under the Income Tax Act 2025 (Sections 159, 160, Rule 76)

How foreign tax credit works under the Income-tax Act, 2025: section 159 treaty relief, section 160 for no-treaty countries, rule 76 and Form 44.

General Anti-Avoidance Rule (GAAR) Explained: Income Tax Act 2025, Sections 178-183

GAAR under the Income Tax Act 2025: what an impermissible avoidance arrangement is, commercial substance tests, consequences and the Approving Panel process.

Secondary Adjustment and Transfer Pricing Documentation Under the Income Tax Act 2025: Sections 170, 171 and 172

Secondary adjustment (Rs 1 crore trigger, 18% option), documentation for 9 years and the accountant's report in Form 48 under the Income-tax Act, 2025.

Thin Capitalisation Rules: Limit on Interest Deduction under the Income Tax Act 2025 (Section 177)

Section 177 of the Income-tax Act, 2025 limits interest on non-resident associated-enterprise debt to 30% of EBITDA. Rs 1 crore trigger, carry-forward.

Transactions with Persons in Notified Jurisdictions: Section 176, Income Tax Act 2025

Section 176 of the Income-tax Act, 2025: deemed associated enterprises, deduction limits, Form 61, unexplained receipts and 30% TDS for notified jurisdictions.

Transfer Pricing and Arm's Length Price Under the Income Tax Act 2025: International and Domestic Transactions

Transfer pricing under the Income-tax Act, 2025: associated enterprise tests, international and domestic transactions, five methods, 35th-65th percentile range.

Cash & Specified Transactions

Cash Transaction Limits for Loans, Deposits and Repayment (Income-tax Act, 2025)

Cash limits under the Income-tax Act, 2025: Rs 20,000 for loans, deposits and repayments, Rs 2 lakh for receipts, allowed modes and penalties.

Mandatory Electronic Payment Modes for Businesses (Income Tax Act 2025, Section 187)

Businesses with turnover above Rs 50 crore must accept RuPay debit card, UPI, UPI QR and CBDC payments. Section 187, rule 133 and the Rs 5,000 a day penalty.

Non-Profits & Trusts

Approval for Donation-Eligible Institutions: Section 354 Explained (Income Tax Act 2025)

How a charity gets approval under section 354 of the Income-tax Act, 2025 so donors can claim a deduction: conditions, time limits, Forms 104/105, 113, 114.

Commercial Activities by Charitable Trusts: Sections 345 and 346 (Income Tax Act 2025)

Can a charitable trust run a business under the Income Tax Act 2025? Section 345 incidental test, section 346 20% receipts cap, separate books and penalties.

Corpus Donation and Deemed Corpus Donation: Rules for Trusts under the Income Tax Act 2025

Corpus donation under sections 339 and 340 of the Income-tax Act, 2025: what qualifies, the investment rule, deemed corpus for temple repairs, and records.

Merger of Registered Non-Profit Organisations: Section 354A and Accreted Income Tax (Income Tax Act 2025)

When a registered non-profit merges with another, section 354A switches off accreted income tax if objects match and prescribed conditions are met. Explained.

Permitted Modes of Investment for Trusts: Schedule XVI Explained (Income Tax Act 2025)

Where can a charitable trust park funds under the Income Tax Act 2025? Section 350, Schedule XVI modes, the one-year rule and 30% tax on a wrong investment.

Registration of Trusts and Non-Profit Organisations: Section 332, Forms 104 and 105 (Income Tax Act 2025)

Section 332 of the Income-tax Act, 2025: who can register a trust, society or section 8 company, time limits, Forms 104/105, validity and late-filing risk.

Specified Violations and Tax on Accreted Income: Income Tax Act 2025 Guide for Trusts and NPOs

Specified violations (section 351), tax on accreted income (352) and other violations (353) for trusts and non-profits under the Income Tax Act 2025.

Taxation of a Registered Non-Profit Organisation: Regular Income, 85% Application and 30% Specified Income (Income Tax Act 2025)

How a registered non-profit is taxed under the Income Tax Act 2025: regular income, the 85% application test, accumulation, Forms 108 and 109, 30% rate.

PAN, Return & Assessment

Income Tax Assessment Procedure: Scrutiny, Best Judgment and Faceless Assessment (Income Tax Act 2025)

How assessment works under the Income Tax Act 2025: return processing, scrutiny notice, best judgment assessment and faceless assessment, with time limits.

Belated and Revised Return: Rules, Deadlines and Fees (Income Tax Act 2025)

Missed the ITR due date or made a mistake? Section 263 of the Income-tax Act, 2025: belated return in 9 months, revised in 12, fee, interest, loss impact.

Dispute Resolution Panel (DRP) for Eligible Assessees: Draft Order, 30-Day Objection and Directions (Income Tax Act 2025)

How the Dispute Resolution Panel works under section 275 of the Income-tax Act, 2025: who is eligible, the 30-day objection window, DRP powers and time limits.

Income Tax Return Filing: Who Must File, Due Dates and ITR Forms (Income-tax Act, 2025)

Who must file an income tax return under the Income-tax Act, 2025: section 263 triggers, due dates from 31 July to 30 November, late fee and ITR form.

Cash vs Mercantile Method of Accounting: Sections 276 to 278 of the Income Tax Act 2025

Cash or mercantile accounting under the Income Tax Act 2025: section 276 rules, inventory valuation in 277, and income taxed on receipt under 278.

Notice of Demand and Intimation of Loss under the Income Tax Act 2025 (Sections 289 to 291)

Notice of demand under section 289, modified demand after an IBC order (section 290) and intimation of loss (section 291) in the Income-tax Act, 2025.

PAN Under the Income Tax Act 2025: When It Is Mandatory and What Happens Without One

When PAN is mandatory under section 262 of the Income-tax Act, 2025: who must apply, deadlines, where to quote it, and the 20% TDS and inoperative PAN effects.

Reassessment under Income Tax Act 2025: Income Escaping Assessment and Time Limits

How reassessment works under the Income Tax Act 2025: section 279 to 286, show-cause notice, 4 and 6 year limits, Rs 50 lakh test and order deadlines.

Rectification of Mistake under Income Tax Act 2025: Section 287, Time Limit and Section 288 Amendments

How rectification works under section 287 of the Income-tax Act, 2025: who can apply, the 4-year limit, 6-month disposal, and section 288 amendments.

Who Can Verify an Income Tax Return? Section 265 of the Income Tax Act 2025 Explained

Section 265 of the Income-tax Act, 2025 lists who signs the return for individuals, HUFs, companies, firms, LLPs and others. Table, examples, mistakes.

Self-Assessment Tax: How to Pay It and What Interest Applies (Income Tax Act 2025)

Self-assessment tax under section 266 of the Income-tax Act, 2025: what to pay before filing, interest under sections 423 and 424, and worked examples.

Tax Return Preparer Scheme: Who Can Use It Under the Income Tax Act 2025 (Section 264)

Section 264 of the Income-tax Act, 2025 lets the Board notify a scheme for filing returns through tax return preparers. Who is covered and who is not.

Updated Return (ITR-U): Additional Tax and Time Limit under the Income Tax Act 2025

Updated return under the Income Tax Act 2025: 48-month window, 25% to 70% additional tax, 10% extra after a notice, who cannot file, with examples.

Valuation Officer Reference in Assessment: Section 269 of the Income-tax Act, 2025

How a Valuation Officer reference works under section 269 of the Income-tax Act, 2025: powers, notice, six-month report deadline and your right to be heard.

Search, Survey & Powers

Block Assessment After a Search: Undisclosed Income, 60% Tax and Time Limits (Income Tax Act 2025)

How block assessment works after a search under the Income Tax Act 2025: block period, 60% tax, ITR-BN, 18-month time limit, interest and penalty.

Income-tax Authorities, Jurisdiction and Faceless Jurisdiction: Income Tax Act 2025 Explained

Which authority handles your case under the Income Tax Act 2025: the 12 classes, how jurisdiction is fixed, when you can object, and the faceless scheme.

Income Tax Search and Seizure: Your Rights and the Rules (Income-tax Act, 2025)

What an income tax search lets officers do under section 247 of the Income-tax Act, 2025, and your rights: witnesses, copies, release of assets, interest.

Income Tax Survey: Powers and Limits of the Department under Income Tax Act 2025 (Section 253)

What a survey under section 253 of the Income-tax Act, 2025 allows: entry timing, what officers can ask, impounding limits and what they cannot remove.

Income Tax Notice to Furnish Information: Powers to Call for and Collect Information (Income Tax Act 2025)

Sections 252, 254, 259 and 260 of the Income Tax Act 2025: who can ask for information, what they can require, Form 87, and what they cannot do.

TDS, TCS & Advance Tax

Advance Tax 2026-27: Who Pays, Due Dates and Computation (Income Tax Act 2025)

Advance tax under the Income-tax Act, 2025: who must pay, the Rs 10,000 test, 15% / 45% / 75% / 100% instalments, the formula and the 90% rule.

TCS (Tax Collected at Source) Rates and Who Collects It: Income Tax Act 2025

TCS under section 394 of the Income Tax Act 2025: rates for scrap, liquor, timber, LRS, tour packages, who collects, deposit dates and Forms 143 and 133.

Direct Payment of Tax When TDS Is Not Deducted: Section 391 of the Income Tax Act 2025

Section 391 of the Income Tax Act 2025: when you pay tax yourself because TDS was not deducted, the start-up sweat equity rule and what happens to the deductor.

Lower or Nil TDS Certificate: How to Apply Under the Income Tax Act 2025 (Form 128)

How to get a lower or nil TDS certificate under section 395 of the Income-tax Act, 2025: Form 128, what the officer checks, validity and cancellation.

TDS Statement Processing and Bar Against Direct Demand: Sections 399 and 401 of the Income Tax Act 2025

How TDS/TCS statements are processed under section 399 of the Income Tax Act 2025, the one-year intimation limit, and the bar on direct demand in section 401.

Tax Deducted Is Income Received: TDS Credit Rules under the Income Tax Act 2025 (Section 396, Rule 203)

Section 396 of the Income-tax Act, 2025 adds TDS back to your income. See what is excluded, how rule 203 gives credit, and in which tax year.

TDS Compliance and Reporting: Deposit Dates, Quarterly Statements and TAN (Income Tax Act 2025)

TDS compliance under the Income Tax Act 2025: TAN, PAN rule, deposit by the 7th, 30 April for March, quarterly statements, Form 141 and corrections.

TDS Non-Deduction and Late Payment: Interest, Penalty and Disallowance under the Income Tax Act 2025

What happens if TDS is not deducted or paid under the Income Tax Act 2025: 1% and 1.5% monthly interest, penalty equal to the tax, 30% disallowance.

TDS on Interest, Commission and Contractor Payments 2026-27 (Income Tax Act 2025)

TDS on contractor, commission, professional fee and interest payments under the Income Tax Act 2025: rates, limits, due dates, forms and examples.

TDS on Payments to Non-Residents: Rates, Forms and Due Dates (Income Tax Act 2025)

TDS on payments to non-residents under section 393(2) of the Income-tax Act, 2025: which rate applies, Form 145, Form 144, lower deduction and deposit dates.

TDS on Professional Fees and Technical Services 2026-27: Rates, Limits and Forms (Income Tax Act 2025)

TDS on professional and technical fees under the Income Tax Act 2025: 10% and 2% rates, Rs 50,000 limit, who deducts, deposit dates and Forms 140 and 141.

TDS on Rent 2026-27: Rate, Limit, Due Date and Form 141 (Income-tax Act, 2025)

TDS on rent under the Income-tax Act, 2025: 2% and 10% rates, Rs 50,000 monthly limit, specified person test, deposit dates and Form 141.

TDS on Salary 2026-27: How Employers Deduct Tax, Forms and Due Dates (Income Tax Act 2025)

TDS on salary under the Income Tax Act 2025: section 392, average-rate method, Form 122 and 124, deposit dates, Form 138 and Form 130, with worked examples.

TDS on Sale of Property and Rent: Form 141 vs Form 140 Under the Income Tax Act 2025

Buyer TDS on property (1%, Rs 50 lakh limit) and TDS on rent under the Income Tax Act 2025: when Form 141 applies, when Form 140 applies, due dates.

TDS Rates Chart 2026-27 Under Section 393: Complete Table (Income Tax Act 2025)

TDS rates chart under section 393 of the Income-tax Act, 2025: rates and thresholds for residents and non-residents, no-PAN rule, deposit dates, interest.

TDS Refund When You Paid Tax the Payee Should Have Borne: Section 434 (Income Tax Act 2025)

Section 434 of the Income Tax Act 2025: refund of tax you paid under a tax-borne-by-payer agreement, the 30-day limit, Form 160 and the AO order timeline.

Interest, Fees & Refunds

Income Tax Refund: How to Claim, Time Limit and Interest (Income Tax Act 2025)

Income tax refund under the Income Tax Act 2025: who can claim, how to claim by return, time limits, 0.5% monthly interest and when refunds are set off.

Interest on Excess Refund Under the Income Tax Act 2025: 0.5% a Month (Section 426)

If a later assessment cuts a refund already paid, you owe 0.5% simple interest a month on the excess. How section 426 works, with examples.

Interest on Late Filing and Advance Tax Shortfall under the Income Tax Act 2025 (Sections 423, 424, 425)

How interest is charged for a late return (s.423), advance tax default (s.424) and deferment (s.425) under the Income Tax Act 2025, with worked examples.

Late Filing Fee for Income Tax Return and Other Default Fees under the Income Tax Act 2025

Late return fee of Rs 1,000 or Rs 5,000, TDS statement fee of Rs 200 a day, tax audit report fees and the Aadhaar fee under the Income Tax Act 2025.

Set-off and Withholding of Income Tax Refunds: Section 438 of the Income Tax Act 2025

Section 438 of the Income-tax Act, 2025 lets the department set off your refund against dues or withhold it for up to 60 days. Rules, steps, examples.

Appeals & Disputes

Advance Ruling under the Income Tax Act 2025: Who Can Apply, Fee and Procedure

Advance ruling under the Income Tax Act 2025: who can apply, Form 120, fees of Rs 10,000 to Rs 10 lakh, six-month timeline and High Court appeal.

Dispute Resolution Committee for Small Taxpayers: Eligibility, Form 119 and Process (Income Tax Act 2025)

How the Dispute Resolution Committee under section 379 of the Income Tax Act 2025 works: Rs 10 lakh and Rs 50 lakh limits, Form 119, Rs 1,000 fee, waiver.

How to File an Income Tax Appeal: Form 99, Fee and 30-Day Limit (Income Tax Act 2025)

How to file a first appeal under the Income Tax Act 2025: Form 99, fee of Rs 250 to Rs 1,000, 30-day limit, condonation and tax to pay before filing.

Income Tax Appeals: CIT(A), ITAT, High Court and Supreme Court (Income-tax Act, 2025)

How income tax appeals work under the Income-tax Act, 2025: CIT(A), ITAT, High Court and Supreme Court, with time limits, fees, forms and stay rules.

Revision of Orders by PCIT/CIT: Sections 377 and 378 of the Income Tax Act 2025

Revision under the Income Tax Act 2025: when the PCIT/CIT can revise orders prejudicial to revenue (s.377) or other orders (s.378), time limits, Rs 500 fee.

Tax Payable Pending Appeal and Stay of Demand: Section 369 Income Tax Act 2025

Does filing an appeal stop a tax demand? Section 369, no-default treatment under section 411(12), the 20% Tribunal stay and TRO stay, with examples.

Penalties & Prosecution

Compounding of Offences and Immunity from Prosecution under the Income Tax Act 2025 (Sections 491, 519, 520, 521)

How compounding of tax offences and immunity from prosecution work under the Income Tax Act 2025: sections 491, 519, 520 and 521, who decides, and what is lost.

Income Tax Offences and Prosecution: Tax Evasion, False Return and Abetment under the Income Tax Act 2025

Which offences lead to prosecution under the Income Tax Act 2025: evasion, non-filing, false verification, abetment, and the Rs 10 lakh and Rs 50 lakh bands.

Offences by Companies and HUF: Who Is Liable Under the Income Tax Act 2025

Who is held guilty when a company, firm or HUF commits a tax offence? Sections 487 and 488 explained: directors, partners, karta, defences and examples.

Penalty for Under-Reporting and Misreporting of Income: 50% and 200% Rules (Income Tax Act 2025)

Penalty for under-reporting (50%) and misreporting (200%) of income under sections 439 and 440 of the Income Tax Act 2025, with examples and the waiver route.

Penalty List Under the Income Tax Act 2025: Complete Table of Penalties (Sections 441 to 468)

Every penalty in sections 441 to 468 of the Income Tax Act 2025 in one table: amount, trigger, per-day caps, and what changed from 1 April 2026.

Income Tax Penalty Procedure and Time Limit: Hearing, Approval and Limitation (Income Tax Act 2025)

How a penalty order is made under the Income Tax Act 2025: show-cause hearing, Joint Commissioner approval, and the six-month limitation under section 472.

Penalty Waiver and Immunity from Prosecution: Section 440, 469 and 470 of the Income Tax Act 2025

How to get a penalty waived or prosecution immunity under the Income Tax Act 2025: section 440 application, 100% and 120% additional tax, sections 469 and 470.

Provisional Attachment of Property by the Tax Department: Section 500, Income Tax Act 2025

Section 500 of the Income Tax Act 2025: when the AO can attach property during assessment, the 6-month limit, extension, and bank guarantee release.

Special Courts for Tax Offences: How Prosecution Trials Work (Income-tax Act, 2025)

Sections 495 to 498 of the Income-tax Act, 2025: who designates Special Courts, which offences they try, summons-case trial and public prosecutors.

Reporting & Compliance

Annual Information Statement (AIS) and Reportable Transactions: Income Tax Act 2025 Guide

What the Annual Information Statement (Form 168) shows, which transactions banks and others report in Form 165, the limits, and what to do about errors.

Country-by-Country Reporting (International Group Report) under the Income Tax Act 2025

Section 511 of the Income-tax Act, 2025: who files the international group report, Forms 58, 59 and 60, the Rs 6,400 crore threshold and penalties.

Crypto-Asset Transaction Reporting under Section 509 of the Income Tax Act 2025: Form 167, Due Date and Penalty

Who must report crypto-asset transactions under section 509 of the Income Tax Act 2025, what goes in Form 167, the 31 May due date and penalties.

Authorised Representative and Registered Valuer under the Income Tax Act 2025: Who Can Appear for You

Who can appear for you under the Income-tax Act, 2025: authorised representatives (s.515), registered valuers (s.513-514), valuer fees, barred persons.

Liaison Office Annual Statement (Form 162) Under the Income Tax Act 2025

Section 505 of the Income-tax Act, 2025: who must file the liaison office statement, Form 162, the eight-month due date and who signs it.

Rounding Off of Income and Tax: Section 516 of the Income Tax Act 2025

How total income, tax payable and refunds are rounded to the nearest Rs 10 under section 516 of the Income Tax Act 2025, with worked examples.

Service of Income Tax Notice and Authentication of Documents: Income Tax Act 2025

How an income tax notice is served and authenticated under the Income Tax Act 2025: modes, addresses, signatures, and notices after dissolution.

Form 164 for Film Producers and Form 163 for Indian Concerns: Income Tax Act 2025 (Sections 506 and 507)

Section 507 makes film producers and event managers report payments above Rs 50,000 in Form 164. Section 506 covers Form 163 for Indian concerns.

When Defects Do Not Invalidate a Return, Assessment or Notice: Sections 522 and 523 of the Income Tax Act 2025

Sections 522 and 523 of the Income Tax Act 2025: when a mistake in a return, notice or assessment is cured, and when appearing bars a service objection.

Interpretation / Definitions (library pages)

Section 2 Definitions Under the Income Tax Act 2025: A Plain-Language Glossary

Plain-language glossary of section 2 of the Income-tax Act, 2025: person, income, capital asset, short-term asset, relative, senior citizen, dividend.

Rent, Specified Person and Salary: TDS Defined Terms in the Income Tax Act 2025

What 'rent', 'specified person' and 'person responsible for paying' mean for TDS under the Income Tax Act 2025 (section 402), with examples.

Business Trusts, Funds, Shipping

Tax on Securitisation Trusts and Venture Capital Funds: Sections 221 and 222 of the Income Tax Act 2025

How investors in securitisation trusts and venture capital funds are taxed under sections 221 and 222 of the Income Tax Act 2025, with forms and due dates.

Taxation of Alternative Investment Funds (AIF) under the Income Tax Act 2025: Section 224 Explained

How a Category I or II AIF and its unit holders are taxed under section 224 of the Income-tax Act, 2025: pass-through, losses, 10% TDS and Forms 78 and 79.

Taxation of REITs, InvITs and Business Trusts: Unit Holder Tax and TDS (Income Tax Act 2025)

How REIT and InvIT distributions are taxed under the Income Tax Act 2025: section 223, 10% TDS, return of capital, specified sum and Form 77.

Tonnage Tax Scheme for Shipping Companies: Eligibility, Rates and Conditions (Income Tax Act 2025)

Tonnage tax scheme under the Income Tax Act 2025: who qualifies, daily tonnage income slabs, 20% reserve, 49% charter-in cap, Form 80 and 10-year option.

Recovery

Modes of Recovery of Tax: Attachment and Sale under the Income Tax Act 2025

How the tax department recovers arrears under the Income-tax Act, 2025: attachment of bank accounts and salary, distraint, sale, receivers, sections 413 to 422.

Tax Clearance Certificate for Leaving India: Section 420, Forms 154 to 159 (Income Tax Act 2025)

Who needs a tax clearance certificate to leave India under section 420 of the Income-tax Act, 2025: the four cases, Forms 154 to 159 and who issues them.

Tax Recovery, Assessee in Default and Tax Recovery Officer: Income Tax Act 2025

How tax recovery works under the Income Tax Act 2025: 30 days to pay a demand, 1% monthly interest, default penalty, TRO certificate and attachment.

Related Finexo tools and pages

When you want to act on any of the above rather than read more: