Can ₹17.5 Lakh Salary Become Tax-Free Under Old Tax Regime? Full Calculation Explained
A common question among salaried taxpayers is: Can salary up to ₹17.5 lakh become tax-free in India? The answer is: Yes, but…
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Why Petrol Prices Are High in India: Tax, Crude Oil, OMC Margins and Ethanol Blending Explained
Petrol prices in India often confuse consumers. When global crude oil prices rise, petrol prices usually rise quickly. But when crude oil…
Read the guide →India’s Tax System Explained: GST, Capital Gains, Wealth Tax, Inheritance Tax and CSR Compliance
Every taxpayer in India pays tax in different ways. Some taxes are clearly visible, such as GST printed on an invoice. Some…
Read the guide →TDS and TCS Return Filing TY 2026-27: New Forms 138, 140, 143, 144, RPU Utility and CSI File Process
From Tax Year 2026-27 onwards, TDS and TCS return filing has shifted to new form numbers under the Income-tax Act, 2025 framework.…
Read the guide →Bank Receipts vs ITR Income: How to Report Non-Taxable Receipts in AY 2026-27
During income tax scrutiny, one of the first documents usually examined is the taxpayer’s bank statement. The Income Tax Department does not…
Read the guide →Interest-Free Loan from Relatives or Friends: Is Notional Interest Taxable in ITR?
In India, it is very common to take or give money to relatives, friends, family members or known persons. Sometimes money is…
Read the guide →Income Tax Refund Status AY 2026-27: ITR Processing, Bank Validation, Refund Failure and Reissue Process
Income tax refunds for AY 2026-27 are being processed gradually on the income tax e-filing portal. Many taxpayers filing ITR-1 and ITR-4,…
Read the guide →GST Updates July 2026: GSTR-3B Auto-Population, Hard Locking, 3-Year Return Bar, ITC Matching and Penalties
GST compliance keeps changing frequently. Businesses, accountants and tax professionals must stay updated because even small mistakes in GSTR-1, GSTR-3B or ITC…
Read the guide →PMEGP Loan Scheme 2026: Eligibility, Subsidy, New Portal, Documents and DPR Process
The Prime Minister’s Employment Generation Programme, commonly known as PMEGP, is a government-backed credit-linked subsidy scheme for individuals who want to start…
Read the guide →IEC Code Registration in India: Who Needs Import Export Code, Documents, Fee and Online Process
IEC Code, also known as Importer Exporter Code, is one of the most important registrations for businesses involved in import or export…
Read the guide →Importer Exporter Code Registration: Step-by-Step IEC Application Process on DGFT Portal
Importer Exporter Code, commonly known as IEC, is one of the most important registrations for any person or business planning to import…
Read the guide →TDS on Purchase of Property from NRI: How to Deposit Tax Through TAN Login
Buying property from a Non-Resident Indian, commonly known as an NRI, is not the same as buying property from a resident seller.…
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