Category: Tax

The Finance Ministry has finally accepted the recommendations suggested in the 56th GST Council’s meeting on 3rd September 2025, that comprised of the Finance Minister, Union Minister of State for Finance and 31 Finance Ministers (28 from states and 3 from union territories with legislative assemblies). The rationalisation in GST rates have been announced to…

A certain amount of interest income is exempt from income tax for all taxpayers. The bank adds up the interest amount from all your accounts across its branches to check if it crosses the exemption limit. When this exemption limit is crossed, the financial institution deducts tax against your PAN and deposits it with the…

Are you new at your job and have seen your salary slip for the first time? Don’t get overwhelmed with a lot of terms and numbers in it. Read this article to understand what is covered in your salary slip and why it is important for you to know about it in detail. What is…

In case you have to e-file your taxes on the official Income Tax e-Filing portal or access the various services available on the e-filing website, you have to register and log into the portal using your user id (PAN/Aadhaar/Other user ID) and password. Unfortunately, this is not possible in case you have forgotten your e-filing…

A new and optional income tax regime was announced in Union Budget 2020. Under this new regime, the income tax slab rates have been significantly reduced. However, the concessional slab rates come at the cost of traditional income tax deductions that can be claimed under the old (existing) tax regime. As things stand right now,…

The Union Budget 2020 presented by Finance Minister Nirmala Sitharaman has proposed a number of changes that directly impact the individual tax payer. These changes which will come into effect from 1st April 2020 are as follows: New Tax Rates Introduced in Union Budget 2020 Union Budget 2020 introduced a new Income Tax Regime, which…