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. […]
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 »
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 »
One of the most common questions among salaried employees is: “How much income tax will I pay if my CTC is ₹9 lakh?” Many people assume that a ₹9 lakh salary package automatically results in a substantial tax liability. However, under the New Tax Regime applicable for FY 2025-26 (AY 2026-27), the actual tax payable
When news broke that teenage cricket sensation Vaibhav Suryavanshi had reportedly earned ₹7 crore before reaching adulthood, it sparked more than just admiration for his talent. It also raised an interesting tax question: Can a minor be liable to pay income tax in India? Many people assume that individuals below the age of 18 are
