Introduction to GST Input Tax Credit (ITC) Input Tax Credit (ITC), a mechanism that allows businesses to reduce their tax liability by claiming credit for the GST paid on purchases of goods and services used for business purposes.The Goods and Services Tax (GST), introduced in India on July 1, 2017, revolutionized the taxation system by … Read more
Capital Gains Tax (CGT) in India is a critical aspect of financial planning for anyone selling capital assets like property, shares, mutual funds, or gold. Governed by the Income Tax Act, 1961, CGT is levied on the profit earned from such sales, and its treatment depends on whether the gain is classified as Short-Term Capital … Read more
India’s taxation landscape is undergoing a transformative shift with the Income Tax Act, 2025, which replaces the six-decade-old Income Tax Act, 1961. Passed by the Indian Parliament and receiving presidential assent on August 21, 2025, this landmark legislation is set to take effect from April 1, 2026. The new Act aims to simplify tax laws, … Read more
India’s income tax system offers taxpayers a choice between the Old Tax Regime and the New Tax Regime, each with distinct features affecting tax liability. With the Union Budget 2025 introducing changes to the New Tax Regime, understanding the differences is crucial for optimizing your tax planning. This blog compares the two regimes based on … Read more
Income Tax Return(ITR) is a crucial financial obligation for Indian taxpayers. To improve efficiency, increase transparency, and accommodate new tax laws, the Income Tax Department has implemented a number of updates for the Financial Year (FY) 2024–2025, which corresponds to the Assessment Year (AY) 2025–2026. Everything you need to know about filing your ITR for … Read more
Virtual Digital Assets or Cryptocurrency have gained immense popularity in India, with millions of investors trading Bitcoin, Ethereum, and other digital assets. However, the tax treatment of cryptocurrencies, classified as Virtual Digital Assets (VDAs) under Indian tax law, has introduced significant compliance requirements. Since the introduction of specific tax rules in the Finance Act 2022, … Read more
What is Tax Collected at Source (TCS)? As required by tax laws in some nations, like India, the seller collects taxes from the buyer at the time of sale of specific goods or services. This method is known as Tax Collected at Source (TCS). TCS was established under the Indian Income Tax Act of 1961 … Read more
Learn Form 10E tax relief in India with our guide. Understand how to claim benefits under Section 89 and save on taxes.When it comes to income tax in India, salaried individuals sometimes face situations where they receive income in arrears or in advance, such as salary arrears, bonuses, or gratuity. These lump-sum payments can push … Read more
Introduction The Income Tax Act of 1961 established the Tax Deducted at Source (TDS) system to collect taxes at the source of income. It lowers tax evasion and simplifies compliance by guaranteeing that the Indian government receives tax revenue up front. Understanding Tax Deducted at Source is essential for managing your finances and guaranteeing compliance … Read more