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Income Tax Filing Guide for AY 2025–26: Deadlines, Deductions & Common Mistakes to Avoid

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Income Tax Return Filing Guide – AY 2025–26 By CA Piyush Jain, Senior Partner, Piyush P Jain and Associates 1️⃣ Introduction As the financial year 2024–25 concludes, it’s time for taxpayers to file their Income Tax Returns (ITR) for the Assessment Year (AY) 2025–26. Filing returns is a legal mandate under the Income-tax Act, 1961, …

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आयकर विभाग द्वारा जारी किए जाने वाले नोटिसों से बचने के लिए, आयकर रिटर्न भरते समय रखे जाने वाली सावधानियां

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वर्तमान में हमारे देश में आयकर से संबंधित प्रक्रिया , आयकर अधिनियम , 1961 द्वारा नियमित / संचालित हैं। कर की परिभाषा , अलग अलग विद्वानों द्वारा अलग – अलग दी गई है , परंतु सामान्य व्यक्ति के दृष्टिकोण से इसे हम “ विकास की लागत “ के रूप में समझ सकते हैं । आयकर …

आयकर विभाग द्वारा जारी किए जाने वाले नोटिसों से बचने के लिए, आयकर रिटर्न भरते समय रखे जाने वाली सावधानियां Read More »

Safeguarding Against Section 43B Disallowances for MSME Suppliers in the Income-Tax Act

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In India’s intricate tax landscape, laying the groundwork for diligent compliance can be challenging, especially with specific requirements relating to Micro, Small, and Medium Enterprises (MSMEs). Section 43B of the Income-tax Act, a provision aimed at certain deductions at the point of payment, plays a pivotal role in this scenario, particularly for assesses dealing with …

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Contract Farming: Whether eligible for exemption under the Income Tax Act?

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Introduction: Issue: The issue is whether agriculture income earned by farming on leased land is entitled to exemption under the Income Tax Act or is it in the nature of contract farming? Reply: This issue was before the ITAT Hyderabad, which held that: Conclusion: Agricultural operations, whether in leased land or own land will be …

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Income tax on Joint Development Agreement | Section 45(5A) Of Income Tax Act

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Joint Development Agreement is a popular arrangement between landowners and builders. In this article, you will learn about the taxability of such a transaction which is slightly different from the usual capital gains transaction. JDA is a type of agreement between a landowner and a builder. The land owner gives his land to the builder …

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Future & Options – Tax Accounting & Audit Issues Version 2.0

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Lots of queries and issues have been raised on taxation, accounting, and audit of Futures and Options transactions. A small note was prepared for the benefit of all, containing a few specific issues including certain common questions shared with me over a couple of years which was published on 18th January 2022. Thereafter some changes were made in the …

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What Is the Difference Between Income Tax ‘Raid/ Search’ And ‘Survey’?

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Let us tell you that Income Tax officials do IT Surveys to bring out any undisclosed assets or income. During this, these things are also taken care of whether the concerned person or business has maintained the account properly or not. The income tax survey is done under section 133A of the Income Tax Act …

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