Learn all about Tax
Income Tax Refund: How to Get Your Refund Faster & When to Expect It?
15 May 2025 | 6 mins read
Navigating the income tax refund process can be complicated, especially with evolving tax regulations and changes in guidelines, like the ones introduced in the Union Budget 2025. Therefore, understanding the intricacies of refunds is crucial for taxpayers aiming for timely reimbursements. This guide delves into the essentials of income tax refunds in India, offering insights into expediting the process and setting realistic expectations.
Section 80CCD: How to Reduce Taxes & Grow Your Retirement Savings
15 May 2025 | 6 mins read
Planning for retirement is essential to ensure financial security in later years. The National Pension System (NPS) is a popular retirement savings scheme in India, and contributions to it are eligible for tax deductions under Section 80CCD of the Income Tax Act. By effectively leveraging this income tax deduction, you can reduce your tax liability while ensuring long-term wealth accumulation for a comfortable retirement.
4 Smart Tax-Saving Tips for Salaries Above ₹12 Lakh Post Union Budget 2025
16 May 2025 | 5 mins read
The Union Budget 2025 introduced significant changes to the income tax structure, offering much-related relief to the middle class and stimulate economic growth. One of the notable adjustments was raising the tax exemption limit (in the new tax regime) from ₹ 7 Lakh to ₹ 12 Lakh annually, allowing individuals earning up to this amount to be exempt from income tax.
Section 80E of Income Tax: How to Claim Education Loan Tax Deductions?
15 May 2025 | 6 mins read
Higher education can be expensive, and many students rely on education loans to pay for their studies. To give financial relief, the government allows tax deductions on the interest paid on such loans under Section 80E of the Income Tax Act, 1961. This provision reduces the overall tax burden for individuals repaying an education loan.
Tax Implications of Pension Fund Withdrawals
8 May 2025 | 4 mins read
Planning for retirement is crucial, but understanding the tax on pension fund withdrawals is equally important. Many individuals assume their pension income is fully tax-free, only to face unexpected deductions. Whether you're withdrawing from the National Pension System (NPS), Employee Provident Fund (EPF), or Public Provident Fund (PPF), each has distinct pension fund taxation rules. Knowing these rules can help maximize your post-retirement savings and minimize tax liabilities.
Capital Gains Tax vs Income Tax: Key Differences Every Investor Should Know
25 April 2025 | 12 mins read
The Government of India levies taxes on various types of income, whether it is your salary, business earnings or profits from different investments. However, not all these incomes are taxed the same way. Different rules may apply depending on the source of income. For example, income tax and capital gains tax are two distinct types of taxes, each with its own set of regulations, rates, and implications. Understanding the difference between capital gains tax and income tax can help you plan and manage your finances better. Let’s explore these two taxes in detail in this article.
What is Section 80C and What Tax Deductions Can You Claim?
25 April 2025 | 6 mins read
The word “tax” is often associated with a sense of worry. Watching your hard-earned money being subject to deductions can be disheartening. Fortunately, the Income Tax (IT) Act, 1961 offers several provisions across different sections to help you reduce your taxable income and lower your tax liabilities. One of the most significant sections in this regard is Section 80C. This article explores the provisions of Section 80C, along with the eligible investments and expenses that can help you maximise your tax savings.
How to Download Form 16 Online: A Simple Guide for Taxpayers
28 April 2025 | 5 mins read
Staying tax compliant is essential for earning individuals, and having the right financial documents in place makes the process seamless. Form 16 is one of the most significant tax documents that not only serves as proof of Tax Deducted at Source (TDS) but also helps in filing Income Tax Returns (ITR).
Tax Filing Rules: Should You File Returns If Your Income Is Under the Exemption Limit?
24 April 2025 | 6 mins read
Filing income tax returns (ITR) is generally associated with those who earn above the taxable income limit set by the government. However, many individuals who fall below the exemption threshold may still benefit from filing a tax return. While it may not be mandatory in many cases, filing a tax return voluntarily can offer financial and legal advantages.
Types of ITR forms available to Indian taxpayers
4 March 2025 | 4 mins read
From visa applications to bank loans and beyond, the Income Tax Return (ITR) plays a vital role in various aspects of financial life. While its uses may be diverse, its primary significance lies in taxation. This article explores the meaning of ITR, the types of ITR forms available and the steps to file an ITR online.
Tax on Dividend Income: Exemptions, Reliefs, and Taxation Explained
28 February 2025 | 5 mins read
When companies make a profit, they may share a portion of it with their shareholders in the form of dividends. Dividends can be given in cash or as cash equivalents. Not all companies pay dividends, and some may choose to reinvest their earnings into the business instead. If you do receive dividends, they count as income for you, which means they come with tax implications. So, how are dividends taxed in India? Let’s find out.
What is ITR in India? Process, Benefits, and Deadlines Explained
28 February 2025 | 7 mins read
Learn what ITR (Income Tax Return) is in India, its filing process, benefits, and important deadlines. Understand how tax filing in India works and the essential steps to file your ITR.
How Does Tax Loss Harvesting Work?
20 February 2025 | 6 mins read
Tax planning plays a crucial role in personal wealth management, and tax-loss harvesting is a very effective tool for it. While you try to grab opportunities and increase your potential gains in the stock market, understanding tax harvesting can help you optimise your portfolio and maximise post-tax returns. Let’s find out more about it.
What is an Aadhar Card Virtual ID?
23 January 2025 | 4 mins read
With the rise in digital authentication and online services, securing personal information is more critical than ever. The Aadhaar Virtual ID was introduced to enhance privacy for Aadhaar cardholders, adding an extra layer of security to protect personal sensitive data. Introduced by the Unique Identification Authority of India (UIDAI) in 2018, the Virtual ID (VID) allows individuals to verify their identity without revealing their 12-digit Aadhaar number. This article explains what an Aadhaar Card Virtual ID is, how it works, and why it’s a valuable tool for ensuring data security in the digital world.
What are Tax-free income sources in India?
23 January 2025 | 5 mins read
Taxes can be overwhelming, especially during tax season, which often comes with an additional sense of stress. However, with a little knowledge about the exemptions available under the Income Tax (IT) Act of 1961, you can significantly reduce your taxable income. This article will explore the top nine tax-free income sources in India that you can leverage when filing your income tax return to maximise savings.