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
India’s Finance Minister, Nirmala Sitharaman, presented the 2025-26 Union Budget on February 1. There have been several important reforms impacting all of us. Let’s read reforms introduced in Budget 2025 and their impact through this article. Impact of Latest Reforms Introduced under Budget 2025 More income for salaried persons and Less Taxes The government has introduced … Read more
YouTube has become a wonderful source of income for people across the globe. You can earn money on YouTube through various sources such as Advertisements, Affiliate sales or freelance projects, Payments based on engagement metrics (views, comments, etc.) and much more. However, you must not forget about tax on YouTube income. Let’s understand about tax … Read more
Good news for taxpayers as the IT Department has extended the deadline for filing belated and revised Income Tax Returns (ITRs) for the Assessment Year (AY) 2024-25. Let’s understand in detail. Difference Between Belated and Revised ITR Filing Type of ITR Purpose Belated ITR For individuals who missed the original filing deadline (July … Read more
The Central Board of Direct Taxes (CBDT) has launched its electronic campaign to assist taxpayers of India in resolving any mismatches or discrepancies between the income and transactions seen in the AIS annual information statement and those disclosed in ITR income tax returns. This electronic campaign aims to resolve mismatches for the financial years 2021-2022 … Read more