GST on Medicines in India: 2026 Rates, HSN Codes & Impact Guide
Learn about the GST rates applicable to medicines and how they impact pharmaceutical businesses and consumers.
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80G Exemption Guide: Eligibility, Tax Benefits and Latest Updates
Learn about the 80G exemption under the Income Tax Act and how donations to eligible charities can reduce your tax liability.
Interest u/s 234B: Imposed by the Income Tax Department
Know the implications of interest under Section 234B for advance tax defaults and how it affects taxpayers.
Section 115JC of Income Tax Act: AMT & Applicability Guide
Understand the provisions of Section 115JC, which deals with Alternate Minimum Tax (AMT) for certain taxpayers.
Expert Guide to Taxation for NRIs: Rules and Benefits in 2025
Navigating tax laws in India can be daunting, especially if you’re a Non-Resident Indian (NRI) with income earned in India. Understanding income tax for NRI is crucial for compliance and optimizing your tax filings. Whether you earn income from property rental, investments, or capital gains, being familiar with your tax obligations can save you time, […]
How HUF Can Help You Save Income Tax
Managing taxes effectively is a key financial goal for every taxpayer. If you’re seeking a structured and legal way to reduce your tax liability, forming a HUF (Hindu Undivided Family) might be the solution for you. A HUF is a separate legal entity in the eyes of the Income Tax Department, especially prevalent in Indian […]
Types of Income Tax Return: Which ITR to File for FY 2026-27?
Filing an Income Tax Return (ITR) is an essential obligation for taxpayers in India. However, determining which form to use among the various types of ITR can often be confusing. To ensure compliance and avoid penalties, it’s important to file the correct ITR form based on your income source, profession, and entity type. Therefore, this […]
Penalty for Late Filing of Income Tax Return: Section 234F
Filing an income tax return is a fundamental duty for taxpayers; it ensures compliance and contributes to the growth of the nation. However, if you fail to file your Income Tax Return (ITR) within the due date, you may face penalties, specifically under Section 234F of the Income Tax Act, 1961. The penalty for late […]
CBDT Notification Offers Income-Tax Exemption to State RERA Authorities of Goa and Telangana
Introduction The Central Board of Direct Taxes also notified a grant of income-tax exemption to the Real Estate Regulatory Authorities (RERAs) of Goa and Telangana under the provisions of the Real Estate (Regulation and Development) Act, 2016 (RERA). This exemption relates to specific income streams on account of such authorities under the said act. Key […]
ITAT Ruling: Capital Gains Deduction Claimable Even Without Filing Returns
Introduction ITAT Ruling relief to taxpayers who wish to claim capital gains deductions, though they may have not filed returns. ITAT has given landmark ruling which is much in need to all taxpayers, who might have missed the filing of their income tax returns but still intend to claim capital gains deductions. ITAT Ruling The […]