Clipped from: https://www.businesstoday.in/personal-finance/tax/story/promised-a-big-refund-this-income-tax-expert-says-it-may-come-with-a-200-penalty-487818-2025-08-05 The tactic is simple but risky: tax consultants inflate refunds by manipulating deductions or income figures and charge clients a cut—typically 10%—of the
Month: August 2025
*Freelancers, YouTubers, influencers: 5 tax traps you must avoid in AY 2025 26 – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/freelancers-youtubers-influencers-5-tax-traps-you-must-avoid-in-ay-2025-26-487923-2025-08-05 As tax tracking tightens, freelancers and influencers must report all income — from UPI payments to brand deals — or risk penalties. Here’s
*******Filing ITR for AY 2025-26? Apply THIS smart trick to save big on taxes legally – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/filing-itr-for-ay-2025-26-apply-this-smart-trick-to-save-big-on-taxes-legally-3936301/ The government has made the new tax regime the default from the financial year 2023-24, that is, if you do not choose anything,
Comprehensive*******How to file ITR-2 for AY 2025-26 with salary, capital gains, foreign income and others; Here’s a step-by-step guide – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-to-file-itr-2-for-ay-2025-26-with-salary-capital-gains-foreign-income-and-others-heres-a-step-by-step-guide/articleshow/123093504.cms Step-by-step guide on how to file ITR-2 for AY 2025-26 with salary, capital gains, foreign income and others online and with excel utility
*ITR filing deadline: What is the last date for filing returns for taxpayers not requiring an audit? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-filing-deadline-what-is-the-last-date-for-filing-returns-for-taxpayers-not-requiring-an-audit/articleshow/123092769.cms The Income Tax Department has extended the deadline for filing income tax returns (ITR) for FY 2024-2025 (AY 2025-2026) from July 31, 2025,
Comprehensive1*******Section 44AA of Income Tax Act: Compulsory Maintainance of Books of Accounts
Clipped from: https://scripbox.com/tax/section-44aa/?utm_source=perplexity For most of the people carrying on a business or profession, maintenance of books of accounts has always been a trick question. There
Comprehensive*******What is Section 44AA of the Income Tax Act? | Angel One
lipped from: https://www.angelone.in/knowledge-center/income-tax/section-44aa-of-income-tax?utm_source=perplexity Ever filled out an income tax return? It can feel a bit like navigating a maze! There are sections, deductions, and exemptions –
Comprehensive1*******Audit related provisions –Courtesy Bajaj Finance
Clipped from: https://www.bajajfinserv.in/about-section-44ab-of-income-tax-act?utm_source=perplexity In India, tax compliance is a crucial aspect for businesses and profe0ssionals. Section 44AB of Income Tax Act mandates certain taxpayers to get
Comprehensive*******Income Tax On Intraday Trading – How Profits From Intraday Trading Are Taxed ? Courtesy Clear Tax
Clipped from: https://cleartax.in/s/income-tax-on-intraday-trading?utm_source=perplexity Intraday trading is considered speculative business income under section 43(5) of the Income Tax Act. As a result, intraday income is taxable under
Comprehensive*******Taxability of Sale of Land or Building – Section 50C of Income Tax Act
Clipped from: https://cleartax.in/s/taxability-sale-land-building-section-50c?utm_source=perplexity Owing to the large population, there is always a huge demand for real estate in India, and demand mostly overtakes supply. This demand-supply
Comprehensive*******Turnover, Balance Sheet, and P&L – Varsity by Zerodha Varsity by Zerodha
Clipped from: https://zerodha.com/varsity/chapter/turnover-balance-sheet-and-pl/?utm_source=perplexity 6.1 – Turnover & Tax Audit In the previous chapter, we discussed briefly on tax audit, and when it is required if you
*Income Tax Dept has No Statutory Power to Cancel Sale Deeds : Madras HC Quashes Attachment Order [Read Order]
Clipped from: https://www.taxscan.in/top-stories/income-tax-dept-has-no-statutory-power-to-cancel-sale-deeds-madras-hc-quashes-attachment-order-1428712 The High Court took strong exception to this overreach. During the hearing, the Bench said there is no provision empowering the tax authorities
*’₹1.87 lakh nearly lost in real estate tax’: Advisor flags mistake many sellers make – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/rs187-lakh-nearly-lost-in-real-estate-tax-advisor-flags-mistake-many-sellers-make-487601-2025-08-04 Under Section 55 of the Income Tax Act, sellers can reduce taxable capital gains by including specific costs in the “cost of acquisition”
*******Cyber cover for digital natives – Money News | The Financial Express
clipped from: https://www.financialexpress.com/money/cyber-cover-for-digital-natives-3934892/ Cyber insurance protects digital users from financial loss, identity theft, cyberbullying, and more. Learn how it works, what it covers, key exclusions, and