Varsha Arora works in a private bank in Noida. During the Financial Year 2025–26, she earned a salary, received interest from her savings account and fixed deposits, invested in mutual funds, and sold some listed shares. As the Income Tax Return (ITR) filing season came near, she decided to file her tax return by herself. […]
Cash withdrawals are a routine part of business and personal finances. However, under the Income Tax Act, 2025, withdrawing a large amount of cash from your bank account may attract Tax Deducted at Source (TDS) under certain conditions. TDS on cash withdrawals is governed by Section 393(3) (Table Sl. No. 5) of the Income-tax Act
TDS on Cash Withdrawals: Rules, Limits and Calculation Explained Read More »
Mr. Ayushmann Khurana has just received his Form 16. His annual salary package (including employer’s NPS contribution) is Rs. 15 lakh, and everyone around him is giving different answers about how much income tax he has to pay. One friend says, “There’s no tax up to Rs. 12 lakh now.” Another says, “You still have
Mr. Ramesh has just received his Form 16 from his employer. While preparing to file his Income Tax Return, he notices that his taxable income is around Rs.11.80 lakh under the new tax regime. A question immediately comes to mind: Do I have to pay income tax, or can I claim the Section 87A rebate?
Section 87A Rebate: Who Can Claim It and How It Reduces Your Income Tax (FY 2025-26) Read More »
Mr. Sharma is a salaried employee working in a private company in Delhi. He purchased a residential flat by taking a home loan and rented out the property. During the financial Year 2025-26, he received Rs. 5 Lakh as rental income from the property and paid Rs. 1.5 Lakh as interest on the home loan
Mr. Sharma is a salaried employee working in a private company in Delhi. He purchased a residential flat by taking a home loan and rented out the property. During the financial year 2025-26, he received Rs. 5 Lakh as rental income from the said property and paid Rs. 1.5 Lakh as interest on the home
Mr. Karan is a salaried person. His total income is Rs. 11,80,000. While reading about income tax, he notices something strange. Some websites talk about Section 87A while others mention Section 156. If these questions sound familiar, you’re not alone. In this guide, I’ll explain what has changed, what hasn’t, and how the rebate works
Section 87A is Now Section 156 – What Every Taxpayer Should Know Read More »
Equity mutual funds are one of the most popular investment choices for investors in India. They are preferred because they can help build wealth over the long term and also offer tax benefits. However, most investors only look at returns and ignore an important part of investing—taxes when you sell or redeem your mutual fund
Income Tax on sale of Equity-Oriented Mutual Funds for Financial Year 2025-26 Read More »
After working for a company for many years, employees may get a gratuity payment when they retire, leave their job, or their employment ends. Many people ask: “Do I need to pay tax on the gratuity money I receive?” Many people get confused because gratuity is considered part of “salary” under the Income-tax Act. So,
Is Gratuity Fully Tax-Free? Know the Tax Rules Read More »
One of the most frequently asked questions among employees is: “If my CTC is ₹13 lakh, how much income tax do I have to pay under the New Tax Regime?” The answer depends on the salary structure, taxable income, and available deductions. Several components included in CTC do not form part of the employee’s immediate
Income Tax on ₹13 Lakh Salary Under the New Tax Regime (FY 2025-26) Read More »
