Allowances in Salary: Which Are Taxable and Which Are Exempt?
This document explains salary allowance taxability and TDS computation under both Old and New Tax Regimes, helping readers understand how different allowances affect taxable income and monthly deductions. It includes a detailed allowance wise table that clearly classifies each component based on taxability, eligibility under both regimes, and applicable exemption limits for accurate salary structuring. […]
What’s New in the Income Tax Act 2025: Small Business–Focused Overview
The Income Tax Act 2025 has been introduced to make tax laws simpler, clearer, and more technology driven, but its real impact will be felt in how small businesses and units handle their day‑to‑day finances and compliances. Earlier, many provisions felt complicated and scattered; the new Act tries to reduce that complexity and increase transparency.Let’s […]
Audit Report vs ITR Mismatch: Why You Received a CPC Adjustment Notice
Many taxpayers receive an Income Tax CPC adjustment notice even after filing their return properly. In most cases, this happens because of a mismatch between the Audit Report vs ITR. This blog explains all reasons for such notices and also how to reply to the notice step by step. Why Does CPC Issue This Notice? […]
Tds on Partners Salary, Interest & Profit Share for FY 2025–26 – New Rule Explained (Section 194T)
Introduction: – Starting 1st April 2025, the Income Tax Department has introduced a new rule – Section 194T.This rule is about TDS on payments made by a firm or LLP to its partners. Earlier, firms didn’t have to deduct any TDS on a partner’s salary or interest, but now things have changed.Let’s understand this new […]
Section 80G and 12A Registration: Complete Process, Documents, and Renewal Guide
Introduction If you’ve started an NGO, trust, or society and want to make your organization tax-exempt -while also helping your donors get tax benefits – you’ll need 12A and 80G registration under the Income Tax Act, 1961. These registrations not only help you save taxes but also make your NGO more credible and transparent in […]
Tax Audit Report: Applicability, Formats, and Financial Statement Requirements for All Entities
Introduction If you run a business or practice a profession in India, you’ve probably come across the term Tax Audit Report (TAR) under Section 44AB of the Income Tax Act, 1961. This is one area where many people get confused: Let’s break it down step by step with simple examples so you can easily understand […]
56th GST Council Meeting – Complete Sector-Wise GST Rate Changes & Key Announcements
56th GST Council Meeting
📘 Mastering Form 16 – A Practical Guide for Employers & Employees
Every year, when tax season is around the corner, most salaried people will hear the words “Form 16” from their HR or payroll team. In fact, it isn’t just some formality — instead, it serves as the paper trail that confirms the TDS mentioned in your payslip has actually made its way to the government’s […]
How Tax Payments Impact Business Cash Flow
Running a business often feels like juggling a dozen things at once sales, expenses, salaries, vendor payments, and more. But there’s one area many business owners don’t think about until it bites: tax payments. Taxes aren’t just paperwork. They’re actual cash outflows and they can put a real strain on your working capital if you […]
Trusts & NGOs: Must-Follow FCRA Rules to Stay Compliant in 2025
Running a trust or NGO FCRA isn’t just about doing good work – you already know that. It’s about managing everything from people, projects, and planning… to paperwork. And one of the biggest things that often gets ignored or delayed is legal compliance – especially when it comes to receiving funds from outside India. Let’s […]