Income from Business and Profession: Tax Rules in April 2025
Income from Business and Profession: Tax Rules in April 2025 Admin May 21, 2025 Taxation of income from business and profession is a crucial aspect of financial planning for self-employed individuals, freelancers, and professionals. As we step into April 2025, it’s essential to stay updated with the latest tax rules to ensure compliance and optimize […]
Income from Salaries: Tax Rules in April 2025
GST Compliance Changes You Must Know (DUPLICATE) Admin May 17, 2025 Salaried individuals form a significant portion of taxpayers in India, and understanding the latest tax rules is crucial for efficient financial planning. The Income from Salaries head covers all earnings received by an employee in exchange for services rendered, including basic salary, allowances, bonuses, and perquisites. […]
Income from Other Sources: Tax Rules in April 2025
Income from Other Sources: Tax Rules in April 2025 Admin May 14, 2025 Income tax laws are constantly evolving, and staying updated is crucial for taxpayers. One of the key heads of income under the Income Tax Act, 1961, is “Income from Other Sources.” This category includes various earnings that do not fall under salary, house property, […]
Capital Gains Tax Rules Explained April 2025: A Complete Guide
Capital Gains Tax Rules Explained April 2025: A Complete Guide Admin May 10, 2025 As of April 2025, India’s capital gains tax system has undergone significant reform. These changes, announced in the 2024 Union Budget, aim to simplify the tax structure and encourage long-term investments while closing loopholes. Here’s a comprehensive breakdown of the new […]
Income from House Property – Tax Rules (April 2025) – A Complete Guide
Income from House Property – Tax Rules (April 2025) – A Complete Guide Admin May 7, 2025 Owning a house property can be both rewarding and complex from a tax perspective. Whether you earn rental income or live in your own home, understanding the latest tax rules (effective April 2025) is essential for accurate tax […]
How to Properly Create an Exempted GST Invoice
How to Properly Create an Exempted GST Invoice Admin March 15, 2025 Under the Goods and Services Tax (GST) regime in India, certain goods and services are exempted from GST, meaning no tax is levied on them. Businesses must still issue invoices for exempted goods or services, but these invoices will not include any GST […]
Budget 2025: INCREASED TAX EXEMPTION LIMIT AND WHAT IT MEANS FOR YOU
The Union Budget 2025 has brought significant relief to taxpayers by raising the income tax exemption limit. This move is expected to benefit millions of individuals by reducing their tax burden and increasing disposable income. Let’s break down what this change means for you and how you can take advantage of it. What’s the New […]
Navigating the Final Countdown: Handling Stress and Staying Organized During a Tax Audit
Navigating the Final Countdown: Handling Stress and Staying Organized During a Tax Audit Admin September 26, 2024 Tax audits can be overwhelming, especially in the final days leading up to submission. The pressure to ensure everything is accurate and complete can lead to heightened stress levels. However, with the right strategies, you can manage your […]
PREPARING FOR A TAX AUDIT: ESSENTIAL TIPS AND BEST PRACTICES FOR 2024
PREPARING FOR A TAX AUDIT: ESSENTIAL TIPS AND BEST PRACTICES FOR 2024 Admin September 3, 2024 Navigating a tax audit can be a daunting experience, but with the right preparation, you can manage it smoothly and confidently. As we step into 2024, it’s crucial to stay ahead of potential audit risks by understanding what the […]
Understanding the Implications of New Tax Audit Thresholds in 2024
Understanding the Implications of New Tax Audit Thresholds in 2024 Admin August 30, 2024 Tax audit thresholds are the financial limits that trigger a tax audit. These thresholds determine the level of income, assets, or other financial criteria that can lead to an audit by tax authorities. In 2024, changes to these thresholds could mean […]