Form 16 is more than just a document—it's your passport to filing income tax returns correctly. Whether you're a salaried professional or a new taxpayer, understanding Form 16 can help you avoid errors, reconcile tax…

As cryptocurrencies like Bitcoin, Ethereum, Solana, and meme tokens gain traction in India, so does the government's focus on their regulation and taxation. With the introduction of Section 115BBH, TDS under Section 194S, and GST…

1. Individuals & HUFs Old Regime: - Up to ₹2.5 L: Nil - ₹2.5 L–₹5 L: 5% - ₹5 L–₹10 L: 20% - Above ₹10 L: 30% (Senior Citizens: Basic Exemption ₹3 L, Super Senior:…

1. Individuals & HUFs Old Regime: - Up to ₹2.5 L: Nil - ₹2.5 L–₹5 L: 5% - ₹5 L–₹10 L: 20% - Above ₹10 L: 30% (Senior Citizens: Basic Exemption ₹3 L, Super Senior:…

The Income Tax Department has extended the deadline for filing Income Tax Returns (ITR) for the Financial Year 2024-25 (Assessment Year 2025-26). The new deadline is September 15, 2025, up from the original due date…

Section 80EE of the Income Tax Act provides an additional deduction for interest paid on home loans taken for acquisition of a residential house property, specifically for first-time home buyers. This deduction is over and…

📜 Governing Section: Section 56(2)(x) of the Income Tax Act, 1961 The provisions related to the taxation of gifts are primarily covered under Section 56(2)(x) of the Income Tax Act. This section deals with income…