Learn all about Tax
Why Early Tax Planning Matters in Financial Year FY2026-27
July 8, 2026 | 8 mins read
Amid the sea of financial obligations, tax planning often takes a back seat. Yet it should be one of the most important considerations when managing finances, as it offers several advantages. Early tax planning becomes even more important in 2026, given the evolving global environment, changing tax regulations, and shifting financial priorities. This article explains why early tax planning matters, practical ways to approach it, and common mistakes to avoid.
What Happens If You Don’t File ITR?
July 3, 2026 | 12 mins read
Filing your Income Tax Return (ITR) is not just a yearly formality. It is a legal responsibility if your income crosses certain limits or falls under specific conditions. Many taxpayers assume that skipping the process will not have serious consequences, especially if they believe they do not owe any tax. However, if you ignore income tax return filing, the consequences can go beyond a simple fine.
Income Tax Act 2025 Explained: Key Changes Effective from 1 April 2026
July 1, 2026 | 11 mins read
The Income Tax Act 2025 feels like a long-overdue reset button. From 1 April 2026, the familiar but exhausted 1961 law finally retires. In its place comes a reorganized statute that is structured and drafted with today’s digital-first economy in mind. To be clear, this isn't a sudden announcement about any major tax change. Your rates under the new income tax regime do not automatically jump or drop just because of this shift. What changes is the structure of the law, how it is arranged, defined, and read. We are looking at fewer sections, clearer grouping, and a lot less scattered drafting.
How to Choose the Correct ITR Form for FY 2025-26?
June 10, 2026 | 8 mins read
Filing your income tax return becomes much easier when you choose the correct ITR form from the beginning. However, many taxpayers get confused because different forms apply to different income types, professions, and financial situations. Selecting the wrong form can lead to defective return notices, delayed refunds, or even rejection of your return. This is why understanding which ITR form to file is important before starting the filing process.
5 Heads of Income Under the Income Tax Act
June 10, 2026 | 13 mins read
The Income Tax Act does not simply look at how much money you earn in a year. It looks at where that money came from. A salary, rent from property, profit from selling shares, and interest from a fixed deposit may all increase your bank balance, but the tax laws treat them differently. That is why the Income Tax Act divides income into five specific categories. These are known as the heads of income, and they determine how tax is calculated, which deductions apply, and how you report the income while filing your return. Most taxpayers in India typically deal with two or three of these categories. If you are employed, you will report income from salary. If you have investments, you might have income from capital gains or interest income under income from other sources. Property owners deal with income from house property, while business owners report profits and gains from business or profession.
What Is an Income Tax Challan?
June 9, 2026 | 11 mins read
An income tax challan is an official payment document used to deposit direct taxes with the Government of India through authorized banks or the income tax e-filing portal.
What Is Deferred Tax?
June 8, 2026 | 9 mins read
In financial reporting, companies often show a difference between the tax they report in their profit and loss statement and the tax they actually pay to the government. This difference is known as deferred tax. At its core, deferred tax arises because accounting rules and tax laws treat certain incomes and expenses differently. As a result, the timing of recognising income or expenses in financial statements does not always match the timing used for tax calculation. This timing mismatch creates either a future tax benefit or a future tax obligation, which is recorded as deferred tax in the balance sheet.
How to Pay Advance Tax Online Using e-Pay Tax facility (Challan 280)?
May 27, 2026 | 5 mins read
In India, direct taxes are broadly divided into Tax Deducted at Source (TDS), advance tax, and self-assessment tax. While TDS is deducted at the time of payment, taxpayers are required to pay advance tax and self-assessment tax themselves. Thanks to the e-filing system of the Income Tax Department, you can now complete the entire process online using the e-Pay Tax facility.
What is angel tax, and why was it eventually abolished?
May 27, 2026 | 5 mins read
Angel tax was introduced in 2012 under Section 56(2)(vii)(b) of the Income Tax Act, 1961. It taxed unlisted companies when they issued shares at a price higher than their Fair Market Value (FMV). The excess amount was treated as “Income from other sources” in the hands of the company.
What is a Taxpayer Identification Number? Is it still relevant today?
May 27, 2026 | 4 mins read
TIN was a unique 11-digit registration number issued to businesses and dealers registered under the Value Added Tax (VAT) system in India. It was allotted by the Commercial Tax Department of respective state governments. TIN helped tax authorities track transactions involving the sale and purchase of goods and ensure accurate tax collection, reporting and compliance. However, with the introduction of the Goods and Services Tax (GST) in 2017, TIN was largely replaced by GSTIN for indirect tax purposes.
Non-tax revenue: Meaning, types and components
May 27, 2026 | 5 mins read
Tax revenue includes collections from direct and indirect taxes, such as income tax, the Goods and Services Tax (GST), customs duties, and other taxes. Non-tax revenue, on the other hand, refers to income earned by the government from sources other than taxes. This includes profits from public sector enterprises, interest receipts, fees, fines, etc.
Tax Haven Meaning and How Do Tax Havens Work
May 27, 2026 | 4 mins read
Tax havens enable individuals and businesses to minimise their tax liabilities, provided they operate within the boundaries of applicable tax laws and disclosure requirements. While they may offer financial flexibility and benefits, their role in the economic development of a country remains debated. Understanding the tax haven meaning helps clarify a complex and misunderstood concept.
Income Tax Rules on Buyback of Shares for Retail Investors
May 26, 2026 | 6 mins read
Indian tax laws are dynamic, and staying updated is essential not only to remain compliant but also to maximise investment returns. In recent years, there have been significant changes in the income tax on buyback of shares, directly affecting the tax liability of retail investors. This article explains the latest income tax rules on buybacks and what they mean for shareholders.
What Is Corporate Tax?
May 25, 2026 | 9 mins read
Corporate tax is a direct tax charged on the profits of companies registered in India or earning income from India. Once a company calculates its profit after allowable expenses and deductions, it applies the applicable corporate tax rate to arrive at its income‑tax liability.
How ESOPs and RSUs are taxed in India: Latest capital gains tax rates and startup ESOP tax rules
May 12, 2026 | 6 mins read
ESOPs (Employee Stock Option Plans) and RSUs (Restricted Stock Units) are popular components of employee compensation, especially in startups, listed companies, and MNCs. However, their taxation often confuses employees because tax is triggered at two different stages.