Learn What Income Is Chargeable Under Section 15 Income Tax Act 1961. Understand Due Basis Vs Receipt Basis, Advance Salary, Arrears, And Tax Computation Have you ever wondered why your March salary gets taxed even if your employer delays paying it until April? Or why receiving a bonus from last year in your current paycheck […]
Section 15 Income Tax Act: Complete Guide to Salaries Chargeable to Tax Read More »
Sections 15-17 Guide : Learn How To Compute Income From Salaries Under India’s Income Tax Act. Discover Standard Deductions, Allowances, Perquisites & Save Taxes Legally. Introduction Have you ever looked at your salary slip and wondered, “Why am I paying tax on the full amount when I never received some of these benefits in cash?”
Sections 15-17 Guide : How to Calculate Salary Income Tax Read More »
Learn everything about Section 194K TDS on mutual fund dividends. Discover the new ₹10,000 threshold from Budget 2025, rates, compliance rules, and how to claim refunds. Have you ever checked your mutual fund dividend payout and wondered why you received less than expected? Or perhaps you’ve noticed a mysterious deduction labeled “TDS” on your statement
Section 194K Explained: How TDS on Mutual Fund Dividends Works Read More »
Learn Section 37 Business Expenditure: Which Business Expenses Are Deductible Under The Income Tax Act. Real Court Cases, Practical Examples & Common Mistakes to Avoid. Introduction: Are You Leaving Money on the Table? Have you ever looked at your business expenses and wondered, “Can I actually claim this on my taxes?” If you run a
Section 37 Business Expenditure: What You Can & Cannot Claim (2026 Guide) Read More »
Confused About Blocked ITC Credits under GST Section 17(5) ? Learn The 6 Major Categories, Real Controversies, And What The Supreme Court Recently Ruled. Have you ever paid GST on a business expense and assumed you could claim it back as input tax credit (ITC)? Here’s the catch: not all business expenses qualify for ITC.
Blocked ITC Credits Under GST Section 17(5): What Every Business Owner Must Know Read More »
Section 9A (Investment Fund Participation Rules): Indirect investments by Indian residents in offshore funds are now excluded from the 5% limit, reducing compliance burdens . The Central Government can relax conditions for eligible investment funds/fund managers in International Financial Services Centres (IFSCs) . Section 10(4D) (Tax Exemptions for Specified Funds): Retail Schemes and Exchange-Traded Funds (ETFs) regulated
Amendments Related to Investment Funds and IFSCs Read More »
New Section 44BBD: Section 44BBD, introduced by the Finance Act 2025, is a presumptive taxation scheme designed to attract foreign expertise into India’s electronics manufacturing sector by simplifying tax compliance for non-residents. Who It Applies To Non-resident entities that: Provide services or technology to a resident Indian company That company must be setting up or
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Chapter XIV-B (Sections 158BA, 158BB, 158BE): Replaces “total income” assessment with “undisclosed income” assessmentin search/seizure cases . Undisclosed income includes: Income declared in block returns. Income determined by the Assessing Officer (AO) based on search evidence . Excludes income already assessed under regular provisions (e.g., Sections 143, 147) . Time limit for block assessments: 12 months (extendable to 13
Block Assessment and Undisclosed Income Read More »
The Budget 2025 proposed new tax slab rates under section 115BAC i.e., the New Tax Regime or the Default Tax Regime. This was to ensure that individuals save more and increase their spending capacity. These revised tax slab rates will be applicable for income earned in FY 2025-26 onwards. INCOME RANGE (₹) TAX RATE Up
Income Tax Slabs for FY 2025-26 (AY 2026-27) Read More »
Here’s a consolidated table of the revised TDS threshold limits effective from April 1, 2025, based on the Finance Act 2025 amendments: Key TDS Threshold Changes (FY 2025-26) SECTION NATURE OF PAYMENT OLD THRESHOLD (PRE-APRIL 2025) NEW THRESHOLD (FROM APRIL 2025) TDS RATE 193 Interest on Securities Nil ₹10,000 10% 194A Interest (other than securities) ₹50,000
Revised TDS threshold Limits effective from April 1, 2025 Read More »
