Income Tax

“Section 393 of New Income Tax Act TDS Rules, Rates & Compliance Explained”

Section 393 of New Income Tax Act: TDS Rules, Rates & Compliance Explained

Income Tax / /

The introduction of Section 393 under the New Income Tax Act marks a significant shift in how Tax Deducted at Source (TDS) is governed in India. While TDS has always been a core part of tax collection, the new structure aims to simplify provisions, improve compliance, and enhance transparency. This detailed guide explains every aspect […]

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From Four to Eight Income Tax Rules Expand Recognized Metro Cities for HRA

From Four to Eight: Income Tax Rules Expand Recognized Metro Cities for HRA

Income Tax / /

In a landmark update for salaried taxpayers, the Income Tax Rules have expanded the list of recognized metropolitan cities for the purpose of calculating House Rent Allowance (HRA) exemption. What was previously limited to four traditional metro cities has now been broadened to eight – bringing substantial tax relief to employees residing in India’s rapidly

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New Time Limits for Revised Income Tax Return

New Time Limits for Revised Income Tax Return

Income Tax / /

The Income Tax system in India is evolving steadily toward greater transparency, flexibility, and taxpayer convenience. One of the most important reforms in recent years relates to the time limits for filing a Revised Income Tax Return (ITR). Mistakes in tax returns are common, even among careful taxpayers, and the law recognises this by allowing

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Salaried person and opting New Tax Regime — Check Tax Slabs for Financial year 2025-26

Updated Income Tax Slab Rates for Salaried Individuals in FY 2025-26 Under New Tax Regime

Income Tax / /

From, FY 2023-24 onwards, the New Tax Regime is the default tax regime. If you are a salaried person and intend to opt for the New Tax Regime in FY 2025-26, then this blog is for you.  This blog covers only the slab rates and related provisions under the New Tax Regime. The slab rates

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From 800 to 536 Sections What’s New in India’s Income Tax Rewrite

From 800 to 536 Sections: What’s New in India’s Income Tax Rewrite

Income Tax / /

The Income-tax Act of 1961 has been the backbone of India’s tax system for more than six decades. Over the years, countless amendments, notifications, and clarifications transformed it into a massive legal labyrinth with over 800 sections and 100,000+ words. Taxpayers, accountants, and even tax officers often struggled to keep up, leading to widespread confusion,

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Late on Income Tax Filing Here’s How to Bounce Back Without Penalties

Late on Income Tax Filing Here’s How to Bounce Back Without Penalties

Income Tax / /

Missing the income tax filing deadline can be a stressful experience. Whether it’s due to procrastination, unexpected personal issues, or confusion about the process, filing late can lead to penalties, interest charges, and even legal complications. However, the situation is far from hopeless. If you’ve missed the deadline, the key is to act quickly and

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income tax

Income Tax Categories and Their Impact on Deductions and Exemptions

Income Tax / /

Income tax systems can be complex, but understanding the different income tax categories can help you navigate through your tax filing more efficiently. Whether you’re an individual taxpayer or a business owner, being aware of how tax categories impact your deductions and exemptions is crucial to minimizing your tax burden. In this post, we’ll explore

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income tax

Income Tax Slabs for FY 2024–25: Old vs New Regime Explained

Income Tax / /

Choosing the most tax-efficient route for the Financial Year 2024–25 requires a good understanding of India’s dual tax system—the Old Tax Regime vs. the New Tax Regime. Introduced to give flexibility to taxpayers, these two systems offer a trade-off: either enjoy lower tax rates with no deductions or opt for a higher tax rate with

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