Practical compliance guides

Income Tax · 12 min read

Revocable Transfer and Income Tax: What Section 61 Says

A transfer of assets that you can take back is treated as no transfer at all for income tax purposes. Under Section 61 of the Income Tax Act...

CACA Sundaram Gupta · Apr 6

Income Tax · 11 min read

Clubbing of Income vs Transfer of Income: Key Difference Explained

Sections 60 to 64 of the Income Tax Act are often discussed together under the umbrella of "clubbing of income." But they are not the same t...

CACA Sundaram Gupta · Apr 6

Income Tax · 13 min read

Minor Child Income Clubbing Rules: How Parents Are Taxed on a Child's Earnings

With the rise of child actors, young YouTubers, social media influencers, and school-level quiz competition winners, more minor children in...

CACA Sundaram Gupta · Apr 6

Income Tax · 12 min read

Clubbing of Income with Spouse Under Section 64: When It Applies and When It Does Not

Transferring money or assets to your spouse to save tax is one of the oldest tax planning strategies in India - and one of the most misunder...

CACA Sundaram Gupta · Apr 6

Income Tax · 12 min read

Clubbing of Income Under Income Tax Act 2025: Complete Guide

Clubbing of income is one of the most misunderstood provisions of Indian income tax law. If you transfer assets or income to your spouse, mi...

CACA Sundaram Gupta · Apr 6

Income Tax · 12 min read

How Income Tax Faceless Appeals Work Under Act 2025: Complete Guide

If you disagree with an income tax assessment order, a penalty order, or an intimation under Section 143(1), your first recourse is an appea...

CACA Puja Pradhan · Apr 6

Income Tax · 12 min read

Income Tax Mismatch in AIS: How to Correct Errors Before Filing ITR

The Income Tax Department now tracks virtually every financial transaction linked to your PAN through the Annual Information Statement (AIS)...

CACA Sundaram Gupta · Apr 6

Income Tax · 12 min read

Belated ITR Filing Penalty Under Section 234F: Dates and Amounts

Missing your income tax return filing deadline is one of the most common compliance failures in India - and one of the most expensive. Under...

CACA Poonam Kadge · Apr 6

Income Tax · 10 min read

Short-Term vs Long-Term Capital Loss Set-Off Rules AY 2026-27

For investors in equity, mutual funds, real estate, gold, and debt instruments, understanding the difference between short-term and long-ter...

CACA Sundaram Gupta · Apr 6

Income Tax · 10 min read

Intra-Head vs Inter-Head Set-Off of Losses: Section 70 and 71 Explained

The set-off of losses is a two-step process. Step one - intra-head set-off under Section 70 - adjusts losses within the same head of income....

CACA Sundaram Gupta · Apr 6

Income Tax · 9 min read

Set-Off and Carry Forward of Losses: Complete Guide AY 2026-27

Losses in income tax are not just a setback - they are a tax asset if managed correctly. The Income Tax Act allows you to "set off" losses a...

CACA Sundaram Gupta · Apr 6

Income Tax · 11 min read

Clubbing of HUF Income: Rules When Assets Are Transferred to the Family

A Hindu Undivided Family (HUF) is a separate taxable entity under Indian income tax law - with its own PAN, its own basic exemption limit, a...

CACA Sundaram Gupta · Apr 6