Wedding gifts in India are a time-honored tradition, but when it comes to tax season, many wonder if these generous presents are subject to the same rules as other income. The good news is that under India’s tax laws, wedding gifts are treated differently. Are Wedding Gifts Tax-Free? Yes, wedding gifts are completely tax-free in … Read more
A New Pension Choice for Central Government Employees The Ministry of Finance has introduced a significant, one-time opportunity for Central Government employees currently enrolled in the Unified Pension Scheme (UPS) to switch to the National Pension System (NPS). This option is available to eligible employees up to one year before their superannuation or three months … Read more
A secondary demat account can significantly help cut stock taxes by allowing investors to separate their long-term investments from their short-term trades. This helps manage the First In, First Out (FIFO) rule, the standard method for calculating capital gains in India. How a Secondary Demat Account Helps with Taxes 💸 Previously, all shares were held … Read more
A proposed change in India’s Goods and Services Tax (GST) could significantly shake up the motorcycle market. The new plan aims to simplify the current tax structure, but it would create a stark contrast in pricing for different types of bikes. What’s Changing? The new proposal would create two main GST slabs for automobiles: How … Read more
If you’re a stock trader or investor who had a tough year in the market, you can use your losses to save on taxes later. Here’s what you need to know about carrying forward short-term capital losses (STCL) from Financial Year 2024-2025 (FY25). The most crucial step is to file your Income Tax Return (ITR) … Read more
Yes, lottery and game show winnings are taxable. The provided text outlines the key points of how these winnings are taxed in India. Here is a breakdown of the rules based on that information. The Breakdown of Taxes on Winnings 1. A Flat 30% Tax Rate All winnings from games, lotteries, betting, and horse races … Read more
Demat Account Holders: Your Guide to a Smooth Income Tax Filing As the tax season approaches, Demat account holders must be particularly diligent when filing their Income Tax Returns (ITR). While a Demat account itself is not taxed, the income you generate from it is. To ensure a smooth and compliant filing process, keep these … Read more
The Directorate of Enforcement (ED) has arrested Chartered Accountant Sharad Chandra Toshniwal for his alleged involvement in the ₹792 crore Falcon invoice discounting scam. According to the ED, Toshniwal, who served as the statutory auditor for the company Capital Protection Force Pvt. Ltd. since its inception, was fully aware of its fraudulent activities. The company, … Read more
India Post has temporarily suspended postal services to the United States due to a new U.S. customs rule that has created confusion and delays. The suspension, which began on August 25, 2025, affects most shipments but allows for some exceptions. What’s Causing the Suspension? On July 30, 2025, the U.S. administration issued an executive order … Read more
The “Sahaj” form, or ITR-1, is designed for Indian residents with a straightforward income. However, there are many situations where you’re not allowed to use it. If any of the following 21 reasons apply to you, you’ll need to file a different ITR form. 21 Reasons You Can’t File ITR-1 (Sahaj) Who should file ITR-1? … Read more
