wealth

When it comes to filing your Income Tax Return (ITR), many taxpayers wonder—should gifts be included? Are they taxable? The answer depends on who gave the gift, its value, and the occasion. Let’s break down the gift taxation rules under Indian law so you can file your ITR accurately and avoid surprises. Are Gifts Always…

The Central Board of Direct Taxes (CBDT) has extended the Income Tax Return (ITR) filing due date for non-audit taxpayers from 31st July 2025 to 15th September 2025. This extension comes in light of recent changes in the ITR forms and the time required to update the filing utility. The revised deadline is aimed at…

The PAN (Permanent Account Number) card is one of the most essential identity and financial documents in India. Whether it’s opening a bank account, filing income tax returns, or carrying out major financial transactions, a PAN card is often a must-have. But have you ever wondered—does a PAN card have an expiry date? If you’ve…

Filing your Income Tax Return (ITR) correctly is more than a yearly obligation — it’s a step toward financial responsibility, helping you avoid penalties, tax notices, and delays in refunds. As the assessment year 2025–26 begins, it’s time to gather your key financial documents: salary slips, Form 16, bank interest certificates, and investment proofs. But…

The Unified Payments Interface (UPI) has revolutionized digital payments in India, making it quick and seamless to send or receive money. However, this convenience also brings security risks if proper precautions aren’t taken. Here are 10 practical tips to help you protect your UPI transactions. 1. Stick to Official UPI Applications Choose only well-established and…

Filing your Income Tax Return (ITR) in India is not just a legal requirement—it’s also a crucial step toward maintaining your financial health. With the 2025 assessment year underway, it’s important to be aware of the current deadlines and rules to avoid penalties and ensure a smooth filing process. 🗓️ What’s the Last Date to…

If you’re a retired senior citizen earning interest from fixed deposits (FDs), there’s some good news for you — especially under the New Tax Regime starting from the financial year 2025-26. You can now avoid Tax Deducted at Source (TDS) on your FD interest by using a simple form called Form 15H. What’s the Issue?…

Understanding the Old Tax Regime India offers two tax regimes: the old and the new. Many salaried taxpayers favor the old regime because these deductions significantly reduce their taxable income. On the other hand, the new tax regime features lower tax rates but eliminates most exemptions and deductions. It’s ideal for those who don’t make…

Recently, misleading messages have been making the rounds on social media, falsely claiming that Goods and Services Tax (GST) will be levied on UPI transactions exceeding ₹2000. Let’s set the record straight: this information is completely untrue. Both the Government of India and the National Payments Corporation of India (NPCI) have confirmed that no GST…

Filing income tax returns can be overwhelming, especially when choosing between ITR-1 (Sahaj) and ITR-4 (Sugam). Selecting the right form not only simplifies the process but can also impact your tax savings. Here’s an easy guide to help you decide. Who Can File ITR-1 and ITR-4? Both ITR-1 and ITR-4 cater to individuals with total…