In a major move as in Budget 2025, the Indian Government proposed removing the 6% equalization levy on online advertisement also known as the ‘Google Tax.’ Let’s understand this important update in detail. What is the Google Tax? The government introduced the Equalisation Levy in 2016 to tax non-resident digital companies providing services to Indian … Read more
Advance Tax in India is the income tax you pay in installments before the financial year ends. Furthermore, in case your total tax liability is exceeding Rs. 10,000/- in a year, it is mandatory for you to pay taxes in advance rather than waiting for ITR Filing. Let’s learn all about Advance taxes through this … Read more
The Delhi High Court has recently issued a crucial ruling regarding bad debt deduction rules under Section 36(1)(vii) of the Income Tax Act, 1961. This ruling is important for you to know before you do ITR Filing and make a decision on bad debts. Important Highlights of Delhi HC Meeting Recently, the Delhi High Court … Read more
Filing zero income tax return or ‘Nil’ return is a process where people inform the Income Tax Department of their income even though it is less than the tax threshold. Although it is not compulsory for individuals with income under the level of basic exemption, filing a Nil return can prove to be useful in … Read more
The Indian Revenue Authority has tightened its scrutiny of large political contributions, especially those of more than Rs 5 lakh, during the fiscal year 2020-21. It is fueled by apprehensions regarding tax evasion, money laundering, and abuse of tax exemption on political contributions. Thousands of individuals are in the government’s spotlight, with an aim to … Read more
The Central Board of Direct Taxes (CBDT) has made substantial changes to Form 16 and Form 24Q to simplify the ITR Filing process for the year 2025-26. The updates aim to enhance accuracy, eliminate discrepancies, and provide a hassle-free tax-filing experience for both employers and employees. CBDT published the circular on 20 February 2025, and … Read more
An IPO or Initial Public offering means the shares made available by a company to the public for the issue of fresh stock. IPOs are presented with the goal of raising money from the public. It is a fundamental means by which companies convert from being private to being public and their shares are avilable … Read more
The Income Tax Bill 2025 was introduced in Parliament on February 13, 2025. The new income tax bill is aiming to replace the six-decade-old Income Tax Act of 1961. Let’s understand the latest changes introduced in the New Income Tax Bill 2025. Introduction of the ‘Tax Year’ The new bill simplifies the tax system by … Read more
The government of India has made some important reforms in the 2025 budget for the middle class. However, there is not much relief for cryptocurrency investors. Despite the hope, the government has still kept the huge 30% tax rate on crypto income with 1% TDS on transactions. Key Changes introduced for Crypto Traders in Budget … Read more
Finance Minister Nirmala Sitharaman, in Income Tax Slab 2025, announced major tax relief for taxpayers. It has good news for all of us. Let’s understand all about Latest income tax slabs announced this year. What’s good news and New Income Tax Regime for Assessment Year (AY) 2025-26 Under the, New Income Tax Regime for Assessment … Read more