Direct Tax
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Expert insights on Direct Tax from practising Chartered Accountants — plain language, actionable advice.
Salary Restructuring for Tax Savings Under ITA 2025: HRA, LTA, NPS & Form 12BB Guide
Salary restructuring income tax under ITA 2025 -- HRA exemption formula (lowest of three), LTA 2 journeys per 4-year block, employer NPS 10% tax-free (both regimes), perquisites concessional value, Form 12BB declaration, new regime vs old regime comparison.
Provident Fund (EPF/VPF) Income Tax Under ITA 2025: Rs 2.5L Interest Cap, 5-Year Rule & EPS
EPF income tax under ITA 2025 -- employee contribution deductible Section 123, Finance Act 2021 interest taxable above Rs 2.5L annual contribution, withdrawal before 5 years taxable, after 5 years exempt, EPS pension taxable, gratuity Rs 20L private, PPF fully exempt.
NPS and Pension Income Tax Under ITA 2025: Rs 50K Extra Deduction, 60% Exempt & Section 132
NPS income tax under ITA 2025 -- Section 125(1A) Rs 1.5L basket, Section 125(1B) Rs 50K extra old regime, Section 132 employer 10% both regimes, NPS maturity 60% lump sum exempt, annuity taxable, partial withdrawal 25% own contribution exempt, APY.
Partnership Firm Income Tax Under ITA 2025: 30% Flat Rate, Partner Remuneration & Book Profit
Partnership firm income tax under ITA 2025 -- 30% flat rate, partner remuneration Section 233 (90% of first Rs 3L / 60% balance), book profit computation, partner profit share exempt Section 86, interest on capital 12%, Section 44AD for smaller firms.
Income Tax for Freelancers and Self-Employed Under ITA 2025: Section 44ADA, TDS & GST Guide
Freelancer self-employed income tax under ITA 2025 -- Section 44ADA 50% professional receipts (Rs 75L), Section 44AD 6% business, TDS 10%/2% Indian clients, foreign clients zero-rated GST no TDS, advance tax 15 March single instalment, GST 18% Indian clients, ITR-4/ITR-3.
Startup Tax Compliance Under ITA 2025: DPIIT, Section 80IAC, ESOP, TP & Loss Carry-Forward
Startup tax compliance under ITA 2025 -- DPIIT recognition maintenance, Section 80IAC CBDT Form 10CCB, Section 79 loss carry-forward VC relaxation, angel tax abolished April 2024, TP compliance Rs 1 crore, Section 115BAA post-80IAC, advance tax MAT, R&D Section 35.
Trust and NGO Income Tax Under ITA 2025: Section 12AB, Section 11, Section 80G & Form 10BD
Section 12A (trust registration), Section 12AB (new registration regime), Section 80G (donor deduction), Section 11/12 (trust income exempt), Section 10(23C) (educational/med
Income Tax Audit Under ITA 2025: Section 162, Rs 1 Crore Threshold, Form 3CD & Penalty Guide
Income tax audit under ITA 2025 -- Section 162 mandatory above Rs 1 crore (Rs 10 crore digital), professionals Rs 50L, Form 3CA/3CB/3CD disclosures, MSME payments TDS default Section 43B, 0.5% penalty (max Rs 1.5L), 44AD/44ADA opt-out 5-year consequence.
Income Tax for Sportspersons and Athletes Under ITA 2025: IPL, Prize Money, Endorsements & NRI
Sportsperson income tax under ITA 2025 -- IPL cricketer salary TDS franchise, prize money taxable other sources, endorsement TDS 10%, free sponsorship products taxable FMV, NRI overseas player 20% India source, commentary professional income, deductions training equipment.
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