Tax Blogs

GSTIN (GST Identification Number) is your unique GST identity used to log in and file returns. Think of it as your GST ‘account number’ for compliance and tracking. If you’ve ever filed a GST return and wondered, ‘Did it actually go through?’ then, you’re not alone. GST status checking is one of those small habits that saves you from late-fee surprises, missed ITC claims and unnecessary vendor follow-ups.  But the best part is that the official …

TDS (Tax Deducted at Source) is a tax system where the payer deducts a part of the payment as tax and deposits it with the Government, so tax is collected at the time income is earned, not just at year-end.  Now, let’s decode Section 194J of Income Tax Act in a simple, real-life way: whenever a business (or specified payer) pays a resident for professional …

High-income taxpayers often face a sharp increase in tax liability when their income crosses a surcharge threshold. To prevent an unfair tax burden in such situations, the Indian tax system provides a provision known as marginal relief. Understanding marginal relief in income tax is essential for individuals whose income slightly exceeds the specified limits. In …

Understanding income tax for women is essential for effective financial planning, especially as more women participate actively in the workforce and investment ecosystem. While income tax laws in India are largely gender-neutral today, knowing the applicable tax slabs for women, exemptions and deductions can help women taxpayers make informed decisions. Here you will understand the …

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, …