Income Tax

The Cost Inflation Index, used to calculate indexed cost of acquisition for decades, has been quietly phased out for most assets after Budget 2024. But it isn't gone entirely — specific transitional cases still need it. This guide covers when CII still matters and how to use it correctly.

Budget 2025 raised the effective tax-free income threshold under the new regime to ₹12 lakh through an enhanced Section 87A rebate. But the mechanics are more nuanced than 'no tax up to ₹12 lakh' — marginal relief, the cliff effect, and what income types qualify all matter. Here's the precise breakdown.

Budget 2024 fundamentally restructured India's capital gains tax regime — uniform holding periods, removal of indexation for most assets, and new rates across asset classes. Many taxpayers are still applying outdated rules. Here is the complete, current framework.

TDS and TCS rates have undergone several rationalisation changes in recent Budgets — reduced rates, higher thresholds, and merger of overlapping provisions. If you're still applying old rates, you risk both under-deduction penalties and unnecessary over-deduction. Here's the complete updated picture.

When the Income Tax Act 2025 replaces the 1961 Act, every section number changes — Section 80C becomes a different clause number, Section 148 gets renumbered, and so on. This guide gives you the practical mapping framework so you're never lost between old and new references.

India has periodically offered amnesty schemes allowing taxpayers to settle long-pending tax disputes by paying a reduced amount, without further litigation. Understanding how these schemes have worked — and watching for the next one — can resolve years of pending litigation in months.

Since 2020, virtually all income tax scrutiny and appeals in India are conducted online — with no physical interaction between taxpayer and tax officer. This guide explains exactly how the Faceless Assessment and Faceless Appeal schemes work, and how to navigate them effectively.

Buying property in your spouse's name, holding shares through a trusted relative, or any arrangement where the real owner and the registered owner differ can constitute a Benami transaction — with confiscation of the property and up to 7 years imprisonment as the consequence.

Since 2020, almost all income tax scrutiny and appeals in India are conducted entirely online — no physical meeting with the Assessing Officer or Commissioner. This faceless system has changed how taxpayers must prepare and respond. Here is exactly how it works.

Buying property in your relative's name to 'save money,' or holding shares for someone else without disclosure — these common practices can constitute a Benami transaction under Indian law, carrying confiscation of the asset and imprisonment up to 7 years.

If you have an income tax appeal pending for years, the Vivad Se Vishwas scheme offers a way to close it by paying a percentage of the disputed tax — without admitting fault and without further litigation. Here is how the scheme works and who should use it.

The Income Tax Appellate Tribunal (ITAT) is the final fact-finding authority in Indian tax litigation — once a case leaves ITAT, only questions of law can be raised before the High Court. Winning at ITAT is therefore the single most important stage in tax litigation strategy.

The Income Tax Act has over 40 penalty provisions — from Section 270A (under-reporting) to Section 275 (time limits). Most taxpayers don't know which penalty applies to their situation until they receive a demand. This guide decodes every major penalty provision you need to know.

The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 imposes a flat 30% tax plus 90% penalty on undisclosed foreign assets. Prosecution can result in 10 years imprisonment. This guide explains who is at risk and what to do.

These court judgements fundamentally altered how income tax is assessed, disputed, and litigated in India. From the Vodafone retrospective tax controversy to the landmark Section 148 reassessment ruling — every taxpayer and tax professional must know these cases.

A scrutiny notice under Section 143(2) means the Income Tax Department wants to examine your return in detail. It's not a conviction — but handling it wrong can turn a minor query into a major demand. This guide tells you exactly what happens and what to do.

Every salaried employee and business owner faces the same question every year: old regime or new regime? The answer depends entirely on your deductions, income level, and investment profile. This guide gives you the exact breakeven analysis and decision framework.

The Income Tax Bill 2025 was introduced in Parliament to replace the Income Tax Act of 1961. This is the most significant overhaul of Indian tax law in 60 years. Here is what the new bill proposes, what it means for taxpayers, and what we know so far.

Non-Resident Indians are taxed only on India-sourced income — but the rules around residential status, TDS on NRI income, DTAA benefits, and repatriation of funds are far more complex than most NRIs realise. This is the definitive guide.

Filed your ITR months ago but still waiting for your refund? You are not alone. Here are the 8 most common reasons income tax refunds are delayed in India — and the exact steps to track, escalate, and receive your refund faster.