TaxExempt

The Ultimate Guide to Tax-Free Wedding Gifts in India

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The Ultimate Guide to Tax-Free Wedding Gifts in India

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

EPF & PPF: Why You Must Declare Tax-Exempt Interest

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EPF & PPF: Why You Must Declare Tax-Exempt Interest

Tax professionals advise that even though interest earned on your Employees’ Provident Fund (EPF) and Public Provident Fund (PPF) is often tax-exempt, you should still declare it in your annual Income Tax Returns (ITR). While not reporting it won’t incur a penalty, failing to do so could lead to complications and scrutiny of your finances … Read more