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In today’s globally connected business environment, smaller Indian companies as well as large multinational corporations frequently engage with their overseas associates or related entities. To ensure that such cross-border dealings—and certain important domestic transactions—are conducted at fair, arm’s-length prices, the Income Tax Act relies on Sections 92 to 92F. At the center of these rules … Read more

As India enters Assessment Year 2026-27 (financial year 2025-26), the personal income tax landscape continues to offer taxpayers a choice between the new simplified tax regime (default since FY 2023-24) and the traditional old regime with its bouquet of deductions and exemptions. The Union Budget 2025, presented in February 2025, brought significant relief, especially to … Read more

Every year lakhs of honest taxpayers file their returns on time, see the “refund due” amount, and then… wait. And wait. And wait some more. The status keeps showing “Your return is under processing” for months. You call the helpline, send emails, even visit the ward, but nothing moves. I was an Income Tax officer … Read more

After filing your Income Tax Return (ITR), if you have paid more tax than required, the government returns the extra amount to you — this is called an ITR refund. This is your own money that you deserve to get back! Once your ITR is successfully e-verified, the refund is credited to your bank account … Read more

Filing income tax returns (ITR) is one of the most important financial responsibilities for every taxpayer in India. As the new financial year approaches, understanding the latest income tax filing process for 2025, deadlines, and changes in tax rules becomes crucial. Whether you are a salaried employee, freelancer, business owner, or pensioner, this guide will … Read more

Introduced in September 2019 and made even more attractive in Budget 2025, Section 115BAA remains one of the biggest tax-saving weapons for domestic companies in India. It allows eligible companies to pay income tax at a flat 22% (plus 10% surcharge + 4% cess = effective 25.168%) instead of the standard 30% (effective 34.944%) or … Read more

The Union Budget 2025, presented by Finance Minister Nirmala Sitharaman, introduced significant revisions to the income tax structure under the new tax regime, effective from April 1, 2025, for Financial Year (FY) 2025-26 (Assessment Year or AY 2026-27). These changes aim to provide substantial relief to middle-class taxpayers by widening slabs, increasing the rebate under … Read more