US Remittance Tax: A Hefty New Bill for NRIs Sending Money Home to India New Delhi, India – Sending money home to India could soon become significantly more expensive for Non-Resident Indians (NRIs) in the United States. A proposed 3.5% remittance tax, already passed by the US House of Representatives on May 22, 2025, looms … Read more
It’s ITR filing season again! For the Financial Year 2024-25 (Assessment Year 2025-26), the deadline for individuals not requiring an audit has been extended to September 15, 2025. While many need to file, some taxpayers can skip the process. Here’s a breakdown of who can breathe a sigh of relief and who definitely needs to … Read more
As a salaried taxpayer, getting your finances in order for the upcoming tax season is crucial. The good news is that Digital Form 16 is here to simplify the process for the Financial Year 2024–25 (Assessment Year 2025–26). This electronic tax certificate from your employer is your key to a smoother Income Tax Return (ITR) … Read more
Trying to dodge Indian taxes by setting up a company in Dubai? Think again, warns Ashish Singhal, co-founder of CoinSwitch. He calls this a “trap”, not a loophole, and says the Indian taxman is already on to it. Singhal took to LinkedIn to bust the myth that registering a firm in tax-free Dubai can shield … Read more
The Income Tax Department in India is cracking down on big spenders who might be underreporting their income. They’re doing this by keeping a close eye on high-value financial transactions, and they’ve roped in banks, post offices, and even fintech companies to help. These institutions now have to report certain activities to ensure everyone pays … Read more
Unlocking substantial tax savings, even under India’s New Tax Regime, is more achievable than many salaried professionals realize. A real-world example demonstrates how a strategic approach can lead to significant tax relief without impacting your take-home pay. Rs 3.75 Lakh Tax Savings for a Rs 50 Lakh CTC Earner A tax professional, Sujit Bangar, shared … Read more
Great news for homeowners! The Reserve Bank of India (RBI) has made significant moves in 2025, slashing the repo rate by 100 basis points and reducing the Cash Reserve Ratio (CRR) by 100 basis points (from 4% to 3%). These changes mean big savings and shorter loan tenures for home loan borrowers. Understanding the Impact: … Read more
The ₹1 Crore Gold Loophole: India’s Undocumented Wealth Secret There’s a quiet tax loophole in India that’s allowing households to legally stash away significant wealth in gold without any questions asked. An outdated rule from 1994, which hasn’t been updated despite the exponential rise in gold prices, is creating a perfect storm for potential tax … Read more
New US Tax Could Impact Money Transfers to India Good news for NRIs sending money home: a proposed 3.5% excise tax on remittances from the US is currently under deliberation. If enacted, this tax could make sending money to India more expensive. This tax, part of the “One Big Beautiful Bill” that has passed the … Read more
Securing a loan or credit card in India is increasingly tied to one crucial number: your credit score. As financial institutions tighten their lending norms, understanding and maintaining a strong credit profile has never been more important. Simply put, your credit score is a three-digit number that tells lenders how creditworthy you are. In India, … Read more