Don’t Get Caught Out: India’s New Tax Rules Demand Detail for Deductions This Year Heads up, taxpayers! If you’re planning to claim deductions under the old tax regime for the current financial year (FY 2024-25, Assessment Year 2025-26), particularly House Rent Allowance (HRA), the government is cracking down on inflated or false claims. This year, … Read more
The upcoming FY26 tax filing season, with its September 15, 2025, deadline for individuals, means it’s time to get a handle on capital gains tax. Many Indian taxpayers end up paying more than they need to, often due to the complexity of the rules. But with a clear understanding, you can legally minimize your dues. … Read more
First-time homebuyers in India are frequently missing out on a significant tax break: a ₹50,000 additional deduction on home loan interest under Section 80EE of the Income Tax Act. This crucial benefit is often overlooked, with even banks and some financial advisors failing to highlight it. This lesser-known provision can considerably reduce a buyer’s tax … Read more
Filing ITR for Rental Income in India: What the E-filing Portal Needs from You (FY 2024-25 / AY 2025-26) Good news for Indian taxpayers! While the e-filing portal continues to get smarter with pre-filled details from Form 16 and your Annual Information Statement (AIS), you’ll still need to provide crucial information, especially when it comes … Read more
Are You Missing Out on Major Tax Savings from Your Home and EV Loans Thousands of Indian taxpayers could be significantly reducing their tax burden by fully utilizing deductions on their home and Electric Vehicle (EV) loan repayments, yet many are not claiming the full benefits. As the tax filing deadline approaches, understanding the various … Read more
The Indian government is reportedly planning to amend a controversial provision in the new Income Tax Bill, 2025, bringing significant relief to taxpayers. This move aims to fix a contradiction in the bill regarding tax refunds. The Contradiction Currently, Section 433 of the new I-T Bill states that taxpayers can claim a refund by filing … Read more
Crypto Investments Under the Tax Scanner: CBDT Launches Major Probe The Central Board of Direct Taxes (CBDT) is cracking down on potential tax evasion and money laundering through Virtual Digital Assets (VDAs), including cryptocurrencies. This isn’t just a warning; it’s a full-blown probe, with high-risk VDA investors now under intense scrutiny. The tax authority has … Read more
CBDT Cracks Down on Undisclosed Crypto Income India’s tax authorities are intensifying their efforts to ensure compliance with cryptocurrency income declarations. The Central Board of Direct Taxes (CBDT) has launched a significant crackdown on individuals and entities suspected of evading taxes and laundering money through undisclosed or underreported crypto transactions. The CBDT’s data-driven investigation has … Read more
If your income falls below the taxable limit, you might think filing an Income Tax Return (ITR) is unnecessary. However, submitting a Nil ITR can actually save you money and simplify various financial and legal processes. What Exactly is a Nil ITR? A Nil ITR is an income tax return filed when your total income … Read more
You’re battling a life-threatening illness, incurring massive medical bills that exceed your health insurance. On top of that, India’s New Tax Regime offers no relief for these out-of-pocket expenses. This “tax the healthy, not the helpless” approach is sparking a growing demand for change. Under the current New Tax Regime, even with a high income, … Read more