Income Tax Rulings: HRA, LTCG & Section 54 Exemptions
Employer Pays Rent Directly to the Landlord – Can an Employee Still Claim HRA?(Income Tax Rulings) Gujarat High Court Gives Relief to Taxpayers In a landmark decision in Kuldeep Kumar D. Kaura v. DCIT [2026] 187 taxmann.com 1025 (Gujarat), the Gujarat High Court has clarified that an employee is entitled to claim House Rent Allowance […]
Tax Planning Services for SMEs in India: How to Reduce Tax Legally
Let’s be real, for most small business owners in India, taxes become a priority only when deadlines are right in front of them. And that’s usually when unnecessary payments happen. Tax planning isn’t about last minute adjustments or complicated tricks. It’s about understanding the rules early and using them to your advantage, completely within the […]
Income Tax Law Update: IT Act 2025 Forms, Major Tax Evasion Probe & Judicial Insights
Major Income Tax Forms – Quick Comparison of Income Tax Act, 1961 to Income Tax Act, 2025 The enactment of the Income Tax Act, 2025 marks a significant shift in the compliance framework of direct taxation in India. One of the notable changes is the renumbering and rationalisation of statutory forms prescribed under the Act. […]
Direct Tax Update For the Month of September 2025
CBDT extends due date for filing Tax Audit Report for A.Y 2025-26 to 31st October 2025 The Central Board of Direct Taxes (CBDT) has extended the due date for furnishing audit reports under the Income-tax Act, 1961 for AY 2025-26 (PY 2024-25). · Original Due Date: 30th September 2025 · Extended Due Date: 31st October […]
Rebate u/s 87A available even if tax payable on STCG on listed shares under section 111A : ITAT
Section 87A of the Income Tax Act, 1961 provides a tax rebate to resident individual taxpayers whose total income does not exceed a specified threshold. For the financial year 2023-24 (assessment year 2024-25), under the new tax regime, individuals with a total income up to ₹7,00,000 are eligible to claim a rebate of up to […]