Income tax filing, planning and notices — ITR forms, deductions, regimes and refunds explained.
Your residential status is the single most important starting point in Indian income tax. Before a rupee of tax is calculated, the law asks one question: were you a resident of India during the financial year? The answer decides how much of your worldwide income India can tax. Two people earning identical amounts can face…
India’s Income Tax law has steadily tightened the screws on high-value cash dealings. The goal is to curb black money, widen the tax base and push individuals and businesses toward traceable, digital payments. If you accept a large cash loan, repay a deposit in notes, receive a big cash sum or pay business expenses in…
If you have filed your income tax return in India, the first official communication you are likely to receive is an intimation under Section 143(1) of the Income Tax Act. This is not a scrutiny notice and, in most cases, is nothing to worry about. It is simply the outcome of the automated processing of…
Short-term capital gain (STCG) on listed shares is one of the most common tax items for Indian investors, and the rules changed significantly in 2024. If you sold listed equity shares, equity-oriented mutual funds or units of a business trust within a short holding period, your gain is likely taxed under Section 111A of the…
Deemed income is one of the most misunderstood and heavily taxed concepts in Indian income tax. In simple terms, it is income that the law treats as taxable in your hands when you cannot satisfactorily explain the source of money, an investment, or an asset. In 2026, such amounts are taxed at a flat and…
The presumptive income taxation scheme lets small businesses and professionals in India declare income at a fixed percentage of turnover instead of maintaining detailed books and undergoing a tax audit. For FY 2025-26 (AY 2026-27), Sections 44AD, 44ADA and 44AE continue to offer this simplified route with revised higher turnover limits. This guide explains who…
The income tax surcharge is an additional charge levied on high-income taxpayers in India, calculated on the tax payable and not on total income. For FY 2025-26 (AY 2026-27), the surcharge slabs, the crucial concept of marginal relief, and the key difference between the old and new regimes remain important for anyone with income above…
Buying a property in India worth more than Rs 50 lakh comes with a tax duty most buyers overlook: deducting 1% TDS under Section 194-IA and reporting it through Form 26QB. A single typo in a PAN, a wrong payment date, or a mismatched amount can freeze the seller’s tax credit and hold up the…
Your PAN card is one of the most important identity and tax documents in India, so even a small error in your name, date of birth, or address can cause problems when filing returns, opening a bank account, or completing KYC. The good news is that correcting or updating PAN details is a fully online…
Getting Tax Deducted at Source (TDS) right is not only about deducting the correct amount — it is about depositing it on time and filing your quarterly returns before the deadline. Missing a due date can trigger interest, a daily late fee and even a penalty. This 2026 guide sets out the monthly TDS deposit…