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The ITR Filing Due Date for the Assessment Year 2025-26 has been extended from 31st July, 2025 to 15th September, 2025. Having said that, this extension comes amid significant revisions in ITR Forms, ongoing system developments as we well as for the need of accurate reflection of TDS Credits. Note: It is pertinent...

The decision to choose which tax regime is better for you depends upon the allowances, exemptions as well as tax savings deductions that you’re eligible for under the old tax regime.

Setting off of Input Tax Credit under New Mechanism - For IGST Output: First set off through ITC of IGST, then CGST and lastly, SGST. - For CGST Output: First set off through ITC of CGST and then, IGST. ITC of SGST cannot be utilized. - For SGST/UTGST Output: First set off through...

Salaried individuals residing in rented house are entitled to tax exemption on House Rent Allowance (HRA) under Section 10(13A) of the Income Tax Act, 1961. But are you aware of the fact that you, as a salaried individual you can take advantage of this exemption while staying at your parents’ home.

The comparison of old and new tax regime will help you in understanding the implications on your tax liability. The Union Budget, 2020 introduced a new tax regime with lower … Comparison of Old & New Tax Regime: All You Need To Know Read More »

To reduce the burden on small taxpayers, Government of India has provided various schemes wherein the person is not required to maintain his books of account or get their books … Income Tax Audit: Small Taxpayers or Presumptive Income Read More »

Types of TDS Certificates are Form 16, 16A, 16B and 16C. These certificates are issued by the person deducting TDS to the assessee from whose income TDS was deducted while making … Certificates of TDS Types: All You Need To Know Read More »

The taxation on real estate now has two options. You either pay 20% long term capital tax indexation or 12.5% without taxation. The choice is all yours now! Taxation on … Taxation on Real Estate: All You Need To Know Read More »