Direct Tax
Articles & Guides
Expert insights on Direct Tax from practising Chartered Accountants — plain language, actionable advice.
ITR Forms Guide 2026-27: Which ITR Form Should You File?
ITR forms comparison for Tax Year 2026-27 — ITR-1 (salary), ITR-2 (capital gains, multiple properties), ITR-3 (business), ITR-4 (presumptive), ITR-5/6/7, due dates, selection guide.
Income Tax Penalty Provisions Under Income Tax Act 2025: Chapter XXI Guide
Penalty provisions under Chapter XXI of ITA 2025 — late ITR Rs 5,000, under-reporting 50%, misreporting 200%, TDS non-deduction 100%, books non-maintenance Rs 25,000.
ITR-U (Updated Return) Under Income Tax Act 2025: File Missed Returns Guide
ITR-U updated return under Section 285A of ITA 2025 — file within 2 years, 25%/50% additional tax, cannot claim refund, procedure, example computation, when to use.
Income Tax Reassessment Under Income Tax Act 2025: Sections 279-280 Guide
Reassessment provisions under Sections 279-280 of ITA 2025 — 3-year normal limit, 5-year Rs 50 lakh limit, information requirement, show cause notice, faceless procedure, common AIS triggers.
Dividend Taxation Under Income Tax Act 2025: Complete Guide
Dividend taxation under ITA 2025 — taxable at slab rate (DDT abolished), TDS 10% under Section 393 (above Rs 5,000), 20% interest deduction cap, foreign dividend FTC, DRIP tax-neutral.
ESOP Taxation Under Income Tax Act 2025: Two-Stage Tax & Startup Deferral
ESOP taxation under ITA 2025 — Stage 1 perquisite at allotment (FMV minus exercise price), Stage 2 capital gains at sale, startup ESOP 5-year deferral, TDS by employer, unlisted company valuation.
VRS (Voluntary Retirement Scheme) Taxation Under Income Tax Act 2025: Rs 5 Lakh Exemption
VRS compensation taxation under ITA 2025 — Rs 5 lakh lifetime exemption (Schedule II), eligibility (40 years/10 years service), CBDT guidelines, excess taxable at slab, VRS vs retrenchment.
Gift Tax Rules Under Income Tax Act 2025: Rs 50,000 Threshold & Exemptions
Gift taxation under ITA 2025 — cash gifts taxable if aggregate exceeds Rs 50,000, property gifts without consideration, relatives exempt (no limit), marriage and inheritance exempt, clubbing on spouse/minor gifts.
ELSS vs PPF vs NPS: Best Tax-Saving Investment Under Income Tax Act 2025
ELSS vs PPF vs NPS comparison under ITA 2025 — lock-in periods, returns, tax treatment at maturity, Section 123 deduction, NPS extra Rs 50,000, EEE status, and who should choose which.
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