Receiving an income tax notice can be stressful, but understanding the reasons behind it and knowing…
Category: Income Tax
Unexplained Money, Investment & Expenditure – How Income Tax Treats Undisclosed
Unexplained or undisclosed income occurs when an assessee holds sums or assets that are not recorded…
2025 New Income Tax Bill: What You Need to Know
The new Income Tax Bill 2025 is a big step towards making tax laws clearer. It…
Can relief under Section 89(1) be carried forward?
Short Answer: ❌ No, it cannot be carried forward. Why? Example for Better Understanding: Imagine you…
Alimony and Income Tax: Is Ex-Wife Liable for Settlement?
When you’re going through a divorce, it’s key to know about alimony tax rules. In India,…
NPS Tax Benefits: Explore the Old & New Regime in India
When thinking about saving for retirement, knowing about NPS tax benefits is key. The National Pension…
Income Tax on Cash Spending: What You Need to Know
In India, it’s important to know how cash spending affects your income tax. The Income Tax…
2025 Gratuity Guidelines in India: A Comprehensive Guide
Understanding the latest gratuity rules in India is crucial. The Payment of Gratuity Act, 1972, governs…
India’s Income Tax: Up to 100% Penalty for Cash Transactions
When dealing with cash in India, knowing the penalties is key. You could face up to…