Feeling Like You’re Paying for Your Own Money? You’re Not Alone. An executive’s viral LinkedIn post has struck a chord with India’s salaried class, exposing the frustrating reality of being taxed not once, not twice, but seemingly seven times on the very same income. It’s a system that feels less like contributing to the nation … Read more
Expect Delays: Income Tax Refunds to Be Slower This Year Taxpayers with diverse income streams, including those with capital gains or business income, should prepare for potential delays in their income tax refunds this year. The primary culprits are the late release of crucial ITR-2 and ITR-3 forms and a new, more stringent verification process … Read more
Don’t Get Caught Off Guard: Your Rent Payments Could Lead to a ₹1 Lakh Penalty Abhishek, a salaried professional, recently faced a shocking ₹1,00,000 income tax penalty for something many of us do every month: paying rent. His case highlights a crucial, yet often overlooked, fact: individuals, not just businesses, are responsible for Tax Deducted … Read more
The Finance Ministry announced today, July 4, 2025, that the Unified Pension Scheme (UPS) will now enjoy the exact same tax benefits as the National Pension System (NPS). This move ensures fairness and provides significant tax relief and incentives for those choosing the UPS. Understanding the Tax Perks The decision means employees opting for UPS … Read more
A recent Reddit post from a resident in a Tier-3 Indian city has sparked a lively debate about what it truly means to be “middle class” in today’s India. The user shared a fascinating comparison: their long-time maid’s family, through various informal sector incomes, now earns more than their own salaried household—and it’s all completely … Read more
Tired of hefty taxes eating into your salary? What if you could build a ₹12 crore, largely tax-free retirement fund and pay zero income tax as a salaried professional? According to Sujit Bangar, founder of TaxBuddy.com, it’s not just a dream—it’s a achievable reality for those earning up to ₹14.65 lakh annually under India’s new … Read more
Tax season can feel overwhelming, but don’t fret! While the ITR filing deadline for FY2025-26 has been extended to September 15, 2025, it’s always a good idea to get your income tax return (ITR) filed as soon as possible. Tackling it early helps avoid last-minute stress and reduces the chances of errors. Even though the … Read more
Navigating ITR Filing for AY 2025-26: Extended Deadline & Expert Tips for Salaried Individuals Sikar, Rajasthan, India – The Central Board of Direct Taxes (CBDT) has announced a welcome extension for Income Tax Return (ITR) filing for Assessment Year (AY) 2025-26, pushing the deadline from July 31st to September 15, 2025. This extension acknowledges the … Read more
As the September 15 deadline for filing Income Tax Returns (ITR) for the Financial Year 2024-25 (Assessment Year 2025-26) rapidly approaches, taxpayers face an unprecedented level of scrutiny from the Income Tax Department. With approximately 1.65 lakh cases already flagged for detailed assessment under Section 143(2), it’s clear that compliance checks are more rigorous than … Read more
The Hindu Undivided Family (HUF) offers Indian families a unique way to manage assets and potentially save on taxes. However, as aspiring Chartered Accountant Krishna Prasath points out, it’s crucial to understand the intricacies involved beyond just the financial benefits. An HUF isn’t merely a tax-saving loophole; it’s a separate legal entity with its own … Read more
