Expert Blogs
10+ practical guides on income tax, GST, audit, corporate law & CA careers
Clubbing of Income: Rules CAs Must Flag Early
TL;DR for CAs - Income from assets transferred to spouse/minor may be clubbed. - Exceptions exist for adequate consideration and certain gifts. - Plan ownership structures before…
Section 87A Rebate Explained for Salaried Taxpayers
TL;DR for CAs - Rebate u/s 87A can reduce tax to nil for eligible income levels. - Limits differ between old and new regimes. - Rebate does not cover surcharge/cess in all…
Form 16 vs AIS: How to Reconcile Before Filing
TL;DR for CAs - AIS often shows interest and securities transactions missing from Form 16. - Raise feedback on AIS for incorrect entries. - Never file solely on Form 16 for…
Advance Tax Calendar & Computation Tips for CAs
TL;DR for CAs - Installments fall due in June, September, December, and March. - Interest under 234B/234C applies on shortfalls. - TDS credits and capital gains timing affect…
Section 44ADA Presumptive Taxation for Professionals
TL;DR for CAs - Eligible professionals can declare 50% of gross receipts as income. - Turnover threshold and cash receipt conditions matter. - Books and audit may still be needed…
HRA Exemption: Calculation Guide for Salaried Clients
TL;DR for CAs - HRA exemption is least of three statutory limits under Section 10(13A). - Requires rent receipts and landlord PAN above threshold. - Only available in the old tax…
Capital Gains on Equity & Property: CA Practice Notes
TL;DR for CAs - Track holding period and grandfathering for listed equity. - Property transfers need stamp duty value checks under Section 50C. - Indexation rules depend on asset…
ITR Filing Checklist Every CA Should Use
TL;DR for CAs - Reconcile Form 26AS, AIS, and TIS before selecting the ITR form. - Match salary, interest, capital gains, and foreign assets carefully. - Validate bank accounts…
Section 80C Limits & Investment Checklist for FY 2025-26
TL;DR for CAs - Overall 80C limit remains Rs. 1.5 lakh under the old regime. - Combine ELSS, PPF, life insurance, EPF, and principal repayment carefully. - Not available under…
New vs Old Tax Regime: A Practical Guide for CAs
TL;DR for CAs - Default regime is the new tax regime under Section 115BAC. - Old regime still useful when deductions exceed the break-even threshold. - Advise clients with Form…