Advance Tax Payment for Tax Year 2026-27: Due Dates, Calculation, Interest and Online Payment Process
Advance tax is tax paid during the same year in which income is earned. For Tax Year 2026-27, the Income-tax Act, 2025…
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How to File ITR-3 with Salary, F&O/Intraday Trading, Presumptive Income, Dividend and Interest Income
Many taxpayers have more than one source of income. A common case is: In such cases, selecting the correct ITR form becomes…
Read the guide →TDS on Cash Withdrawal Under Income-tax Act, 2025: Will TDS Apply on Entire Amount or Only Excess Amount?
A major confusion has started after the implementation of the Income-tax Act, 2025 regarding TDS on cash withdrawal. Earlier, under Section 194N…
Read the guide →GST Notice on B2C Credit Notes: Why Output Tax Liability Reduction May Be Questioned
GST officers are increasingly scrutinising cases where taxpayers reduce output tax liability by issuing credit notes against B2C supplies, especially where the…
Read the guide →GST ITC Rules May Change: Will Buyers Get Relief from Supplier Default?
Input Tax Credit, or ITC, is one of the most important benefits under GST. It allows a registered buyer to reduce tax…
Read the guide →Foreign Assets and Foreign Income Will Now Appear in AIS: What Indian Taxpayers Must Check Before Filing ITR
The Income Tax Department has introduced a major compliance update for taxpayers having foreign income or foreign assets. Foreign financial information received…
Read the guide →Company Car Lease vs Car Loan: Which Option Saves More Tax for Salaried Employees?
Many large companies offer a car lease facility to employees as part of salary structure. Under this arrangement, the employee uses a…
Read the guide →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…
Read the guide →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…
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