Direct Tax
Articles & Guides
Expert insights on Direct Tax from practising Chartered Accountants — plain language, actionable advice.
Advance Tax for Business Under ITA 2025: Quarterly Schedule & Computation Guide
Advance tax for business under ITA 2025 — quarterly instalments (15 June 15%, 15 Sept 45%, 15 Dec 75%, 15 March 100%), capital gains flexibility to 31 March, presumptive single instalment, Section 417 interest.
HUF Advanced Tax Planning Under ITA 2025: Formation, Income & Partition Guide
HUF tax planning under ITA 2025 — separate taxable entity, own basic exemption, Section 157 rebate up to Rs 12L, HUF formation steps, clubbing warning self-acquired property, partition tax-free.
Salary Income Computation Under ITA 2025: HRA, Standard Deduction & Perquisites
Salary computation under ITA 2025 — standard deduction Rs 75K, HRA exemption computation, perquisites valued per Rule 3, retirement benefits (gratuity Rs 20L, leave encashment Rs 25L, VRS Rs 5L).
Section 44B, 44BB & 44BBA: Shipping, Oil & Aircraft Presumptive Tax Under ITA 2025
Specialized presumptive taxation for non-residents under ITA 2025 — Section 44B shipping 7.5%, Section 44BB oil exploration 10%, Section 44BBA aircraft 5%, Section 44BBB civil construction 10%.
Senior Citizen Tax Benefits Under ITA 2025: Rs 3L/5L Exemption & Rs 50K Interest
Senior citizen tax benefits under ITA 2025 — Rs 3L/5L basic exemption (old regime), Rs 50K interest deduction, no advance tax, Rs 50K health insurance deduction, SCSS, pension standard deduction.
Corporate Tax Rates Under ITA 2025: 22% Section 115BAA, 15% Manufacturing & MAT
Corporate tax rates under ITA 2025 — 30% default, 22% Section 115BAA (no exemptions), 15% Section 115BAB (new manufacturing), MAT 15% book profits, foreign company 40%, surcharge.
ITR Filing Step-by-Step Guide for Tax Year 2026-27: How to File Online
ITR filing guide for Tax Year 2026-27 — preparation checklist, form selection, online filing at incometax.gov.in, e-verification via Aadhaar OTP, due dates, AIS reconciliation, CPC processing.
All Income Tax Deductions Under Chapter VIII of ITA 2025: Complete List
All Chapter VIII deductions under ITA 2025 — Section 123 (80C) Rs 1.5L, NPS Rs 50K extra, health insurance Rs 25K-1L, education loan interest, EV loan Rs 1.5L, donations, disabled dependent.
GST and Income Tax Interaction Under ITA 2025: Turnover, TDS & Reconciliation
GST and income tax interaction under ITA 2025 — GST collected not income, ITC not income, GST paid deductible (Section 37), 44AD/44ADA limits ex-GST, GSTR vs ITR mismatch notices, audit threshold.
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