Latest Articles

• Consequences of Missing the ITR Due Date: 8 Important Penalties in 2025

  June 26, 2026

  The main consequences of missing the ITR due date are a late filing fee under Section 234F (up to Rs 5,000), interest under Section 234A on any unpaid tax, loss of the right to carry forward most losses, and delayed refunds. You can still file a belated return, usually up… Read More…

• Kerala HC : ISD Mechanism Mandatory Only After Finance Act 2024

  June 23, 2026

  A Kerala High Court ruling clarified that the Input Service Distributor (ISD) mechanism became mandatory only after the Finance Act 2024. This guide explains what the ruling means for how businesses distribute common input tax credit. ISD Mechanism Mandatory After Finance Act 2024: Kerala HC Quashes ₹1.31 Crore GST Demand… Read More…

• Off-Market Debit and Credit Transactions in AIS -Understanding and Dealing with Them While Filing ITR

  June 22, 2026

  Off-market debit and credit transactions in your AIS are share transfers made outside the stock exchange, such as gifts, transfers between your own demat accounts, or private deals. They show up in your Annual Information Statement, so you need to understand and reconcile them while filing your ITR to avoid… Read More…

• 5 Tax benefits still available under new tax regime

  June 22, 2026

  Even under the new tax regime, a few tax benefits under the new tax regime still apply. You can claim the Rs 75,000 standard deduction (salaried and pensioners), the employer’s NPS contribution under Section 80CCD(2), the family pension deduction, the Agniveer Corpus Fund deduction under Section 80CCH, and interest on… Read More…

• Intraday Trading vs F&O Taxation: 7 Important Rules Every Trader Should Know

  June 9, 2026

  For traders, intraday equity trading is treated as speculative business income, while futures and options (F&O) is non-speculative business income – each with different rules for loss set-off, turnover computation and tax audit. This guide explains how intraday and F&O income are taxed and the compliance every trader should know.… Read More…

• Cash Deposit Income Tax Notice: Avoid Penalties

  June 9, 2026

  Banks report large cash deposits to the income tax department, and deposits that do not match your declared income can trigger a notice. This guide explains the cash deposit reporting thresholds, why notices are issued, and how to respond correctly to avoid penalties. A cash deposit income tax notice is… Read More…

• Supreme Court Upholds 28% GST on Online Gaming: Impact on Gaming Companies

  June 9, 2026

  The Supreme Court upheld the levy of 28% GST on online real-money gaming, calculated on the full face value of bets. This has significant implications for gaming companies’ pricing and tax outgo. This guide summarises the ruling and its impact. The Supreme Court has upheld the government’s decision to impose… Read More…

• How Income Tax Department Tracks Undisclosed Income: 8 Ways You Should Know

  June 9, 2026

  The income tax department uses multiple data sources to detect undisclosed income – the Statement of Financial Transactions (SFT), the Annual Information Statement (AIS), TDS/TCS data, high-value transaction reports and data analytics. This guide explains the main ways your income is tracked and why matching your return to this data… Read More…

• Income Tax Refund Delayed? Common Reasons and Easy Ways to Track Your Refund Status

  June 8, 2026

  An income tax refund can be delayed for several reasons: the return not being e-verified, a mismatch in bank or PAN details, an outstanding demand adjusted against the refund, or the return still under processing. This guide explains the common reasons and how to track your refund status. Filing an… Read More…

• Section 139(9): How a Defective ITR Can Cost Your Business Time, Money and Tax Benefits

  June 8, 2026

  Your ITR is considered defective when it contains incomplete, inconsistent, or mismatched information, and the Income Tax Department may issue a notice under Section 139(9). A single automated flag can stop refunds, block loss carry-forwards, and trigger follow-ups. The good news: most defective-return notices are entirely avoidable with systematic reconciliation… Read More…

• Best Judgment Assessment: When the Income Tax Department Decides Your Income

  June 8, 2026

  Best-Judgment Assessment is a tax estimation process used by the Assessing Officer (AO) when individuals fail to file returns or comply with tax notices. Taxpayers at risk include non-filers, those ignoring notices, and individuals not cooperating during audits. The AO estimates income based on various data sources like GST filings,… Read More…

• Advance Tax Under the Income Tax Act, 2025: Complete Guide

  May 29, 2026

  Advance tax is the ‘pay-as-you-earn’ income tax paid in instalments during the year rather than as a lump sum at year-end. It applies when your tax liability after TDS is Rs 10,000 or more. This guide explains who must pay advance tax, the quarterly instalment schedule and the interest for… Read More…