In 2019, Rakesh Sheth thought his books were behind him. Audits done, taxes paid, accounts closed. Then came the shocker—a ₹69 lakh income tax demand for FY 2012–13. “Seven years after everything was settled,” he wrote on X, “I received a staggering notice.” To even challenge it, he had to first pay over ₹13 lakh—20% … Read more
ITR filing 2025-26: The commencement of the new financial year marks the official beginning of the filing of Income Tax Returns (ITRs) for the Assessment Year 2025-26. As in previous years, taxpayers have the option to file their tax returns through both online and offline channels. An Income Tax Return (ITR) is a document used … Read more
Sovereign Gold Bonds (SGB), one of the popular gold investment tool, were debt securities issued by the Reserve Bank of India (RBI) on behalf of the government, with each unit representing a gram of gold. These bonds can be traded in the secondary market, allowing investors to potentially gain capital. Additionally, the government utilises SGBs … Read more
You pay your rent diligently each month, file your income tax returns on time, and even claim your House Rent Allowance (HRA). But suddenly, an unexpected Income Tax Notice arrives, questioning your rent payments and demanding answers. The trigger? A little-known TDS obligation tied directly to monthly rents above ₹50,000, which many tenants overlook, leaving … Read more
From April 1, 2025, the new income tax return filing season will start for AY2025 -26. For salaried taxpayers, their employer will provide a Form 16 containing all income tax details for the fiscal year 2024-25 (or assessment year 2025-26). Form 16 is a crucial document for salaried employees in India, particularly as the income … Read more
ITR filing 2025: When it comes to paying taxes on equities, you are only required to pay income tax when you decide to sell your holdings. This means that while you are responsible for paying taxes on your gains, you also have the opportunity to offset any losses incurred. Tax-loss harvesting is a tax-saving strategy … Read more
The middle class has been facing challenges with income tax, which was a hot topic of discussion before the Union Budget 2025. However, a recent social media post has raised concerns regarding a notice from the Income Tax Department, causing many to question the government’s tactics. The notice in question seems to request extensive details … Read more
The Senior Citizens Savings Scheme (SCSS) is designed specifically for elderly individuals residing in India. This scheme provides a reliable source of income along with top-notch security and tax advantages. Eligible senior citizens residing in India have the option to invest a lump sum amount in the scheme either individually or jointly, in order to … Read more
Singapore announced on Friday a set of measures to rejuvenate its equities market, including a 20% tax rebate for primary listings and a S$5 billion ($3.74 billion) program that focuses on investing in domestic stocks. The statement offers more details on measures Singapore’s equities market review group announced on February 13 to revive its stock … Read more
Budget 2025: The recent announcement of a Nil tax rate for individuals with taxable income of up to Rs 12 lakh in the fiscal year 2025-26 has been met with enthusiasm by those within this income bracket. Finance Minister Nirmala Sitharaman implemented changes to the slabs, rates, and rebates under the New Tax Regime to guarantee … Read more