CHARTERED ACCOUNTANTS
CHARTERED ACCOUNTANTS
A society is one of the most common structures for educational institutions, cultural organisations, welfare associations and NGOs in India. This guide explains what a society is, how many members are required, the registration process under the Societies Registration Act,…
A trust is one of the most widely used structures for charitable, religious and family purposes in India. This guide explains what a trust is, the types of trusts, who can create one, how many members are needed, the registration…
Agricultural land is treated very differently under the Income Tax Act depending on where it is located. Rural agricultural land is not a capital asset — any profit from its sale is not taxable as capital gains. Urban agricultural land…
If you hold Bitcoin, Ethereum, NFTs or any other cryptocurrency, your gains are taxed at a flat 30% under the Income Tax Act, 2025 — with no deductions except cost of acquisition, no set-off for losses and 1% TDS on…
The Income Tax Act, 2025 governs Tax Year 2026-27 (April 2026 onwards). The default tax regime offers nil tax on income up to ₹12 lakh for resident individuals after the rebate. If you have home loan interest, PPF and ELSS…
When you sell a house, shares, gold or any other investment and make a profit, that profit is called a capital gain. India taxes this profit differently depending on what you sold and how long you held it. This guide…
The first advance tax instalment for Tax Year 2026-27 under the Income-tax Act, 2025 fell due on 15 June 2026. Under Section 404 of the new Act, taxpayers whose estimated tax liability for the Tax Year — after reducing TDS,…
The Income-tax Act, 2025 replaces the Annual Information Statement (AIS) — earlier tied to Form 26AS under the 1961 Act — with Form No. 168. From Tax Year 2026-27 onwards, Form 168 is the comprehensive statement of all financial information…
The Income Tax Act, 2025 replaces the Annual Information Statement (AIS) known under the 1961 Act with Form No. 168. From Tax Year 2026-27 onwards, Form 168 is the comprehensive statement of all financial information reported to the Income Tax Department.
The Income Tax Act, 2025 has replaced the 1961 Act with effect from 1 April 2026. This article explains the new concept of 'Tax Year', the applicable income tax slabs under the default regime for Tax Year 2026-27, return filing provisions under Section 263 and what every taxpayer must know for the transition year.