Under the Income Tax Act of 1961, Section 194-IB, individuals or Hindu Undivided Families (HUF) paying a monthly rent of ₹50,000 or more are required to deduct Tax Deducted at Source (TDS). The responsibility for this...
As tax season approaches, many individuals and businesses are focusing on their filing responsibilities. While some conclude their returns promptly, others may discover inaccuracies or might have missed deadlines. Understanding critical deadlines for correcting tax returns...
Under the current regulations, providing a Permanent Account Number (PAN) is mandatory for real estate transactions if the transaction value exceeds Rs 10 lakh....
In India, individuals can legally earn tax-free income through options like PPF, EPF, agricultural income, Sukanya Samriddhi Yojana, and eligible gifts, enabling smart financial...
Salaried taxpayers who claim House Rent Allowance (HRA) under the old tax regime will face stricter reporting requirements as outlined in the Draft Income...
The Income Tax Department has released draft Income Tax Rules, 2026, proposing significant revisions to when quoting a Permanent Account Number (PAN) will be...
The Income Tax Act offers various investment avenues for tax savings under Section 80C. Two popular options among taxpayers are Equity Linked Savings Schemes...
In 2017-18, I did something that surprised even myself. I spray-painted 3 words on a public wall: #TaxationIsTheft. The media covered it, and surprisingly,...
Finance Minister Nirmala Sitharaman presented Budget 2026 at a time when middle-class households and low-income groups were hoping for tangible tax relief to cushion...
