Direct Tax
Articles & Guides
Expert insights on Direct Tax from practising Chartered Accountants — plain language, actionable advice.
Fixed Deposit and RD Interest Taxation Under ITA 2025: TDS, Form 15G & Senior Deduction
FD and RD interest taxation under ITA 2025 — all banks taxable at slab rate, TDS threshold Rs 40K (Rs 50K senior), cumulative FD annual accrual, Form 15G/15H, Rs 50K senior deduction, AIS reconciliation.
Pension and Superannuation Taxation Under ITA 2025: Government, NPS & Family Pension
Pension taxation under ITA 2025 — government pension as salary (commuted fully exempt), NPS annuity taxable (60% lump sum exempt), EPS taxable, LIC annuity taxable, family pension Rs 15K/1/3 deduction.
Wealth Tax Abolished: Schedule AL Asset Disclosure Under ITA 2025 Guide
Wealth tax abolished from AY 2016-17 in India. Now: Schedule AL (assets above Rs 50L income) in ITR, Schedule FA (foreign assets for ROR), SFT high-value monitoring, Benami Act, Black Money Act.
Leave Encashment Taxation Under ITA 2025: Rs 25 Lakh Exemption Guide
Leave encashment taxation under ITA 2025 — during service fully taxable, at retirement Rs 25L lifetime exemption (non-govt), government employees fully exempt, Section 89 relief, death encashment exempt.
Gratuity Taxation Under ITA 2025: Rs 20 Lakh Exemption, Formula & Computation
Gratuity taxation under ITA 2025 — Rs 20L lifetime exemption, PGA covered (15 days/year formula), non-PGA (half-month average), government fully exempt, death/disability fully exempt.
Business Income (PGBP) Computation Under ITA 2025: Deductions & Disallowances
Business income (PGBP) computation under ITA 2025 — Section 37 general deduction, Section 40A cash Rs 10K disallowance, Section 43B payment conditions, depreciation WDV, business loss 8-year carry.
Interest Income Taxation Under ITA 2025: FD, Bonds, NSC & P2P Lending Guide
Interest income taxation under ITA 2025 — bank FD slab rate, savings Rs 10K deduction (old), NSC accrual annual basis, SCSS Rs 50K senior deduction, bond interest, P2P lending, refund interest taxable.
Real Estate Builder and Developer Taxation Under ITA 2025: Section 43CA, JDA & 80IBA
Real estate builder tax under ITA 2025 — Section 43CA deemed sale at stamp duty value, Section 45(5A) JDA capital gains at completion, Section 80IBA affordable housing 100% deduction, unsold inventory.
NPS (National Pension System) Under ITA 2025: Three-Layer Tax Deduction Guide
NPS taxation under ITA 2025 — Section 123 (within Rs 1.5L), Section 125(1B) extra Rs 50K, Section 132 employer NPS both regimes, Tier-I/Tier-II, 60% lump sum exempt, annuity taxable.
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