CA Bigyan Kumar Mishra

When you file your Income Tax Return (ITR), you expect the process to be smooth and complete. But sometimes, small mistakes or missing details can cause your tax return to be treated as a defective income tax return. This situation is more common in India than people think, especially for beginners. The good part is that it can be corrected if you understand the rules and … [Read more...] about Defective Income Tax Return in India: Meaning, Rules, Time Limit & How to Fix It

If you are running a small business or doing freelance work, you may have heard about Income tax return form ITR-4 (SUGAM). It is meant to make tax filing simpler under presumptive taxation. But many people get confused about who can actually use ITR-4 and who cannot. Rule 164 of the Income tax rule 2026 helps you understand this clearly. It explains eligibility conditions, … [Read more...] about ITR-3 vs ITR-4: Which Income Tax Return to File for Business Income in India?

If you are planning to file your income tax return for the tax year starting 1 April 2026, understanding Rule 164 of the Income Tax Rule, 2026 is very important. This rule tells you which ITR form you should use, who can use ITR-1 (Sahaj), and who cannot. Many people choose the wrong form without realizing it. That can create problems later. So let’s break this down in a … [Read more...] about When Can a Salaried Individual File ITR-1 (Sahaj)? Eligibility, Conditions & Filing Process (FY 2026–27)

If you run a business or profession in India, there may come a point where your accounts need to be audited for tax purposes. This is where Section 63 of the Income Tax Act, 2025, Rule 47 and Form No. 26 become important. In simple terms, Rule 47 tells you how your audit report should be prepared and submitted under Section 63 of the Income-tax Act, 2025. Form No. 26 is … [Read more...] about Income Tax Audit Report: Rule 47 and Form No. 26 Explained for Beginners

If you are a salaried employee or a pensioner, you must have heard about TDS certificates. Earlier, this was known as Form 16. Under the new Income-tax framework, it has been replaced by Form No. 130. This TDS certificate is very important because it shows your salary, tax deducted, and tax deposited with the government. In simple words, it is your official proof that tax … [Read more...] about Form 16 is Now Form 130: Know All About the New Salary TDS Certificate

Sometimes, you may spend money, but you are not able to clearly explain where that money came from. Under the Income Tax law, this situation is taken seriously. Section 105 of the Income Tax Act, 2025 deals with such cases and calls them unexplained expenditure. In simple terms, if you spend money and cannot justify its source, the government may treat that spending as your … [Read more...] about Unexplained Expenditure Under Income Tax (Section 105) – Simple Explanation for Beginners