Introduction Indian families often transfer property through gift deeds. Parents gift flats to children, grandparents transfer ancestral land, and family members transfer shops or commercial spaces for family settlement. However, property gifting is not only a family decision. It also involves income tax, stamp duty, registration, clubbing provisions, and future capital gains. Therefore, you should […]
AI Tools Every CA Firm Should Use
Introduction Artificial Intelligence is changing the way CA firms work. Earlier, many routine tasks required manual checking, repeated data entry, long reconciliations, and regular client follow-ups. However, AI tools now help CA firms save time, reduce errors, improve client service, and manage compliance more efficiently. Today, CA firms handle GST, income tax, audit, accounting, ROC […]
Taxation of Influencers and YouTubers in India
Introduction Influencers, YouTubers, bloggers, podcasters, online coaches, and content creators now form a major part of India’s digital economy. Many creators earn from YouTube AdSense, Instagram collaborations, brand promotions, affiliate links, online courses, live-stream gifts, merchandise, and paid reviews. However, this income is not casual income. The Income Tax Department treats creator income as business […]
Faceless Assessment Under Income Tax: Complete Guide
Introduction Faceless assessment has changed the way income tax assessments work in India. Under this system, the taxpayer does not meet the income tax officer physically. Instead, the taxpayer receives notices online and submits replies through the income tax e-filing portal. In simple words, faceless assessment means online income tax assessment without face-to-face interaction with […]
Tax Year vs Assessment Year: New Unified Tax Year Concept and Transition Rules Explained
Introduction For many years, Indian taxpayers used two different terms: Previous Year and Assessment Year. However, many people found this confusing. For example, income earned during Financial Year 2024-25 was filed and assessed as Assessment Year 2025-26. This created confusion for salaried persons, business owners, freelancers, and new taxpayers. Now, the Income-tax Act, 2025 has […]