The Central Board of Direct Taxes (CBDT) has shelved an important compliance shift i.e. compulsory due diligence of ITR Filing in FY 2025-26. This step is not normal. It represents a straight turn to improved transparency, increased audit levels and better enforcement. This is the wake call to every casual Income Tax Return Filing habit. … Read more
In one of its landmark moves that brings huge relief to Non-Resident Indian (NRI) investors, the Indian government has now made a tax amendment that lowers the long-term capital gains (LTCG) tax levy on unlisted shares. The move is especially welcome by NRIs who invest in Indian startups and private companies. The amendment not just … Read more
As cryptocurrency investment increased in India, the Income Tax Department introduced well-defined rules for taxing virtual assets. Knowing how to file crypto tax in India has become a must for all investors and traders who handle Virtual Digital Assets (VDAs) such as Bitcoin, Ethereum, or NFTs. Here’s a step-by-step guide to crypto tax filing and … Read more
The Central Board of Direct Taxes (CBDT) has officially extended the due date for ITR filing. However, it is extended for certain categories of taxpayers only. If you are in this eligible category of taxpayers, this is your golden chance. The revised deadline now allows more time for you to complete the filing process without … Read more
The Indian government’s New Income Tax Bill, 2025 has introduced a major change in capital gains taxation. Using the new tax rule, taxpayers will now be able to set off Long-Term Capital Loss (LTCL) against Short-Term Capital Gains (STCG). Thus, it is a significant move that could provide significant tax relief and improve portfolio outcomes. … Read more
Filing income tax returns (ITR) feels like a puzzle. You need to do lots of paperwork and calculations. However, there’s good news. The Income Tax Department has launched the digital Form 16. This new Digital Form 16 makes ITR Filing smoother, faster, and almost error-free. What is Digital Form 16? Form 16 is a certificate … Read more
In a major boost to India’s startup ecosystem, the Department for Promotion of Industry and Internal Trade (DPIIT) has approved income tax relief for new startups under the revised Section 80-IAC of the Income Tax Act. Let’s understand the news that DPIIT grants income tax relief for new startups. 100% Tax Deduction on Profits Under … Read more
The Central Board of Direct Taxes (CBDT) has released the updated Income Tax Return Form ITR-6 for the Assessment Year (AY) 2025–26, effective from April 1, 2025. This change, brought about by Notification No. 44/2025 dated May 6, 2025, brings major changes according to the Finance Act, 2024 amendments. The ITR-6 form mainly applies to … Read more
As the filing season of income tax returns nears, the employees have to witness notable changes in the form of Form 16 for FY 2024-25. The new form will help in smooth filing of tax, more transparency, and convenient reconciliation of data by the employees and employers. What is Form 16? Form 16 is a … Read more
There is good news for students and parents who want their children to study abroad. The Indian government has provided a much-needed relief for students and their families. The relief is that there will be no TCS (Tax Collected at Source) on education loans taken under the Liberalised Remittance Scheme (LRS). Let’s explore what this … Read more