Income Tax
Complete guide to Income Tax Act, 2025 — all sections, rules, forms, notifications and circulars with landmark judgements, worked examples and quick analysis summary.
Basis of Charge
Foundational concepts of income tax — charge of tax, residential status, scope of total income, and previous year vs assessment year.
Exempt Incomes — Sec 10
Comprehensive guide to incomes exempt under Section 10 — agricultural income, HRA, LTA, gratuity, and other key exemptions.
Salaries — Sec 15-17
Computation of salary income, allowances, perquisites, profits in lieu of salary, standard deduction, and TDS on salary.
House Property — Sec 22-27
Annual value computation, municipal taxes, standard deduction under Section 24(a), and interest deduction under Section 24(b).
Business & Profession — Sec 28-44
Allowable deductions, depreciation, presumptive taxation under 44AD/44ADA, disallowances under Section 40A, and deemed profits.
Capital Gains — Sec 45-55
Short-term vs long-term gains, indexation, exemptions under 54/54EC/54F, grandfathering for pre-2018 equity, and Budget 2025 rates.
Other Sources — Sec 56-59
Dividends, interest, gifts under Section 56(2)(x), clubbing provisions, and taxation of cryptocurrency/VDA under Section 115BBH.
Set Off & Carry Forward
Inter-source and inter-head set off of losses, carry forward rules, restrictions on set off, and order of priority.
Deductions — 80C to 80U
Section 80C, 80D, 80E, 80G, 80TTA/80TTB, and NPS deductions — eligibility, limits, and documentation required.
TDS, TCS & Advance Tax
TDS rates and sections, TCS provisions, TDS on salary (192), professional fees (194J), property (194IA), and advance tax computation.
Assessment & Scrutiny — Sec 143-148
Types of assessment (143(1), 143(3), 144), scrutiny selection criteria, reassessment under Section 148, and best judgement assessment.
Unexplained Income — Sec 68-69D
Cash credits, unexplained investments, unexplained money, and deemed income provisions under Sections 68 to 69D with tax implications.
Penalties & Prosecution — Sec 270A-276
Penalty for under-reporting and misreporting of income, prosecution provisions, compounding of offences, and immunity from penalties.
Appeals & Dispute Resolution
Appeal process before CIT(A), ITAT, High Court, and Supreme Court — DRC, VSVS scheme, and alternative dispute resolution mechanisms.
Search, Survey & Investigation — Sec 132-133A
Search and seizure under Section 132, survey under 133A, investigation procedures, and assessment of search cases under 153A/153C.
Returns & Filing — Sec 139-142
ITR forms (ITR-1 to ITR-7), filing due dates, belated/revised/updated returns, Form 26AS, AIS/TIS verification, and self-assessment tax.
Clubbing of Income — Sec 60-65
Transfer of income, revocable transfers, income of spouse, minor child clubbing, HUF provisions, and Section 64(1A) exceptions.
Tax Audit, MAT & AMT — Sec 44AB, 115JB, 115JC
Tax audit thresholds, Form 3CA/3CB/3CD, MAT for companies (115JB), AMT for non-corporates (115JC), and MAT credit mechanism.
International Taxation & DTAA — Sec 90, 91, 195
Double Taxation Avoidance Agreements, TDS on NR payments, Form 15CA/15CB, Tax Residency Certificate, and PE concepts.
Transfer Pricing — Sec 92-92F
Arm's Length Price methods, APA, documentation (Master File, Local File, CbCR), Form 3CEB, thin capitalisation, and secondary adjustments.
GAAR & Anti-Avoidance — Sec 95-102
General Anti-Avoidance Rules, impermissible avoidance arrangements, POEM, thin capitalisation (94B), and treaty override provisions.
Charitable Trusts — Sec 11-13
Trust registration (12A/12AB), 85% application rule, accumulation, permitted investments, Section 80G donations, and Form 10B audit.
Special Tax Rates & New Regime — Sec 115
New tax regime (115BAC), company rates (115BAA/BAB), crypto tax (115BBH), unexplained income (115BBE), rebate u/s 87A, and surcharge rates.
Cash Transaction Limits — Sec 269SS, 269T, 269ST
Cash loan/deposit restrictions, cash receipt limits (Rs. 2 lakh), Section 40A(3) disallowance, 194N TDS on withdrawal, and SFT reporting.
Recovery, Refunds & Rectification — Sec 154, 220-245
Rectification of mistakes, demand notices, garnishee orders, stay of recovery, refund claims, interest on refunds, and set-off of refunds.
CBDT Notifications, Circulars & Orders
Practical reference to CBDT notifications, circulars, and orders — ITR form updates, TDS rate changes, faceless assessment, monetary limits for appeals.