Practical compliance guides

Income Tax · 10 min read

Can You Carry Forward Losses If You File ITR Late? Section 80 Explained

Filing your ITR even one day after the due date can cost you lakhs of rupees in lost carry-forward benefits. Under Section 80 of the Income...

CACA Sundaram Gupta · Apr 6

Income Tax · 9 min read

Speculative Business Losses (Section 73): Rules, Limits and Carry Forward

Speculative business losses are the most restricted loss type in the Indian tax framework - more restricted than capital losses, house prope...

CACA Sundaram Gupta · Apr 6

Income Tax · 10 min read

House Property Loss Set-Off: Rs 2 Lakh Cap and Old vs New Regime

If you have a home loan, house property loss is probably your biggest tax-saving lever - or your biggest missed opportunity. Under the old r...

CACA Sundaram Gupta · Apr 6

Income Tax · 11 min read

F&O Loss Set-Off Against Salary: What the Tax Rules Actually Say

This is one of the most asked - and most misunderstood - questions in Indian tax for retail traders. "Can I set off my F&O loss against...

CACA Sundaram Gupta · Apr 6

Income Tax · 12 min read

Income Tax Old Regime More Attractive in 2026? How IT Rules 2026 Changed the Math

If you assumed the old income tax regime was fading away, the Income-tax Rules 2026 may change your mind. CBDT's notification - effective 01...

CACA Sundaram Gupta · Apr 6

Income Tax · 7 min read

HRA Exemption 2026: Bengaluru, Pune, Hyderabad and Ahmedabad Now Get 50% - What Changes

For over two decades, only four cities in India - Mumbai, Delhi, Kolkata, and Chennai - qualified for the 50% HRA exemption. Every other cit...

CACA Sundaram Gupta · Apr 6

Income Tax · 6 min read

New Income Tax Forms 2026: Full List - What Replaced What

From 1 April 2026, every income tax form number in India has changed. The Income Tax Rules, 2026 replace 399 forms with 190 - consolidating,...

CACA Poonam Kadge · Apr 6

Income Tax · 6 min read

Income Tax Rules 1962 vs Rules 2026: Complete Section Mapping Guide

The Income Tax Rules, 2026 - notified by CBDT on 20 March 2026 and effective from 1 April 2026 - replace the 60-year-old Income Tax Rules, 1...

CACA Sundaram Gupta · Apr 6

TDS & Compliance Returns · 8 min read

Form 141 Unified TDS Challan: How It Replaces Forms 26QB, 26QC, 26QD and 26QE

Starting Tax Year 2026-27, property buyers no longer file Form 26QB, tenants no longer file Form 26QC, individuals paying contractors no lon...

CACA Sundaram Gupta · Apr 6

TDS & Compliance Returns · 8 min read

Form 121 Replaces 15G and 15H from April 2026: Complete Guide

If you have ever submitted Form 15G or Form 15H to your bank to avoid TDS on fixed deposit interest, here is the most important change you n...

CACA Sundaram Gupta · Apr 6

Income Tax · 8 min read

Section 79: Carry Forward of Losses on Change of Shareholding in a Company

Section 79 is the Income Tax Act's anti-abuse provision designed to prevent profitable companies from acquiring loss-making entities purely...

CACA Sundaram Gupta · Apr 6

Income Tax · 7 min read

ITR-2 Capital Loss Carry Forward Bug AY 2025-26: What to Watch Out For

Every filing season brings portal issues, but the AY 2025-26 ITR-2 utility had a particularly dangerous one: a bug that causes capital losse...

CACA Poonam Kadge · Apr 6