India’s Crypto Tax: A Four-Layered Reality Indian crypto investors face a stringent and layered tax structure for Virtual Digital Assets (VDAs) as of 2025. According to experts, the rules are “uncompromising,” regardless of whether the market is bullish or bearish. 1. Flat 30% Income Tax: Under Section 115BBH of the Income Tax Act, all gains … Read more
In a move to simplify India’s direct tax laws, the Indian government has withdrawn the Income-Tax Bill, 2025, which was originally introduced on February 13. A new and revised version of the bill is set to be tabled on August 11. The decision to withdraw the initial draft came after a Select Committee, led by … Read more
The rapid shift to a digital economy in India means that heavy cash transactions can now come with a heavy cost. If you still rely on large cash payments, you could face significant tax penalties and lose out on valuable deductions. Here’s a breakdown of the key rules, limits, and penalties you need to know. … Read more
ITR Filing Alert: The Deadline is September 15, 2025! The income tax return (ITR) filing season is in full swing, and if you’re a first-time filer in India, this is especially for you. The deadline to file your ITR for the financial year 2024–25 (Assessment Year 2025–26) has been extended to September 15, 2025. Don’t … Read more
A recent tax law change is making share buybacks more expensive for investors. Effective October 1, 2024, the tax on share buybacks, previously paid by the company, will now be the responsibility of the shareholder. Key Changes and Their Impact Strategies to Reduce Your Tax Hit Since you can’t directly lower the tax on the … Read more
Filing your Income Tax Return (ITR) can be confusing, but choosing the correct form is essential to avoid penalties. Making a mistake can lead to a defaulted ITR and a potential tax notice. To simplify the process, here is a breakdown of the most common ITR forms—ITR-1, ITR-2, ITR-3, and ITR-4—and who should use them. … Read more
Urgent Alert: Protect Yourself from Income Tax Refund Scams The Income Tax Department has issued a strong warning about a new wave of phishing scams targeting taxpayers. Fraudsters are sending fake emails that promise an income tax refund to trick you into giving up your personal and financial information. How the Scam Works Scammers send … Read more
How STT is Fueling India’s Options Trading Boom Nithin Kamath, co-founder of Zerodha, argues that India’s Securities Transaction Tax (STT) is the primary reason behind the massive surge in options trading. In a recent post, he stated that the tax is distorting the market by making options trading significantly cheaper than trading in the cash … Read more
The legal window for issuing Goods and Services Tax (GST) Show Cause Notices (SCNs) for Financial Years 2017-18 and 2018-19 is now completely closed. Taxpayers, CAs, and business owners can now consider these liabilities legally time-barred, with no new notices possible from the tax department. Summary of Final GST SCN Deadlines The deadlines for issuing … Read more
Based on the provided article and my research on the latest tax rules for the financial year 2024-25 (Assessment Year 2025-26), here is a rewritten post about claiming HRA by paying rent to your parents. Claiming HRA by Paying Rent to Your Parents? Do It Right to Avoid an Income Tax Notice Claiming House Rent … Read more