Tax Blogs

Saving becomes more purposeful as individuals enter their retirement years. The Senior Citizen Savings Scheme (SCSS) remains one of India’s most trusted government-backed savings options for anyone seeking guaranteed returns and a steady income. As we move into 2025, the interest in saving schemes for senior citizens continues to rise due to their reliability and …

When applying for a personal loan, providing proof of your income is one of the most crucial steps. Lenders need to verify your ability to pay back the loan before approving your application. And one of the most reliable documents for this purpose is your income tax statement. In this blog, we will explain how …

When it comes to taxation in India, one of the lesser-known but important taxes is professional tax. Many employees and employers often get confused about what exactly it is, how it is calculated and why it is applicable. In this blog, we will cover the meaning of professional tax, key differences, how it is levied …

Tax season is here and deadlines have shifted! For FY 2024-25 (AY 2025-26), the Central Board of Direct Taxes (CBDT) has extended the last date for filing Income Tax Return in India for individuals to 15 September 2025. If you miss this, you can still file a belated return under Section 139(4) until 31 December …

If you’ve been following the GST news today, you know that yesterday’s 56th GST Council meeting headed by Finance Minister Nirmala Sitharaman proposed some of the most significant changes since GST’s launch. These Next Gen GST Reforms aim at making taxes easier to understand and provide families with some breathing room in their monthly budgets.  …

Taxes like income tax, GST, import-export duties, etc., are mandatory in India. When individuals or businesses attempt to avoid paying taxes, they commit tax evasion. If you are not aware of the meaning of tax evasion and its criteria, you can land up in financial trouble.   Tax evasion is the illegal act of underreporting income, …

Investing in stocks and mutual funds helps grow your wealth and dividends are a key benefit.  It’s an extra income paid by companies to shareholders. However, dividends are taxable in India. Earlier, companies paid a Dividend Distribution Tax (DDT), making dividends tax-free for investors. But since April 2020, the tax burden has shifted to investors, …

Navigating India’s complex tax laws and ever-changing rules can be challenging even for the most diligent of taxpayers. Despite one’s best efforts, it is easy to miss filings or make inadvertent errors that could result in hefty penalties. A lack of knowledge of tax penalties can drain substantial sums of hard-earned money if a business …

An income tax notice simply means the department wants to double-check something in your tax filing. It’s quite common, so there’s no need to stress. You just need to understand what it’s about and reply on time. Read on to understand the main income tax notices for salaried individuals, why they’re issued and how to …

The National Pension System (NPS) is a government-backed plan that helps you save for retirement. It works on the principle of making small contributions regularly. Over time, these small amounts compound, which helps your money grow. And, like all investments, it is important to keep track of your NPS contributions.  You can easily track them …