Tax

New Tax Bill 2025: No Nil TDS certificate for all taxpayers including NRIs; What does it mean for Indians and NRIs?

Plan to become an NRI to save tax? You may still come under tax scanner

New guidelines to curb GST registration related harassment, to help in timely resolution of grievances of taxpayers Officers handling GST registration applications should not ask any presumptive query which is not related to the documents or information submitted by the applicant

HRA exemption queries: Is HRA available under new tax regime? Can you claim it along with your home loan? How to calculate the exemption? Many individuals are confused about whether HRA can help them save tax in the new tax regime, whether HRA tax exemption can be claimed along with a home loan and other tax queries

Can you change tax regime while filing income tax return? This is because last year, government presented the budget in July 2024 (after the General elections) but many communicated the desired tax regime in April for TDS on salary

Big relief for flat owners: No income tax payable if you get a new flat in exchange for old, rules Mumbai ITAT The tribunal held that receiving a new flat in exchange for an old one is not taxable under Section 56 of the Income Tax Act. This exchange should merely be considered an extinguishment of rights and not a gift, which would otherwise be taxable

Pay GST on society maintenance if monthly charge is more than this and annual collection is above Rs 20 lakh

Don’t be surprised if you get lesser income tax refund this year, the income tax dept is adjusting past dues against this year’s refund

Paying rent above Rs 50,000? You can be classified as assessee in default by income tax dept if you fail to deduct TDS