The 2025 Act introduces compulsory tax audit for businesses declaring profits below 6% or 8% of turnover. The shift eliminates the earlier opt-out condition, expanding audit applicability from ...

Breaks down major tax changes including the default new regime, revised slabs, updated TCS/TDS rules, and capital-gains caps to help taxpayers plan ...

Freelancers often overlook that tax rules apply even to small or irregular income streams. Understanding turnover limits, presumptive schemes, and tax regime thresholds helps determine whether an ...

Many first-time F&O traders are confused about whether they need a tax audit when they report losses. Here’s an expert clarification on how Section 44AD and audit rules actually apply in such cases.

A salaried individual with F&O losses in FY 2024–25 assumed that the September 31 tax audit deadline applied to him. But what is the actual ITR due date when a tax audit is not required? Ask Wallet ...