Articles by Rashmi

Proposed Change in Tax-Free Perquisites for Employee Travel in the Income Tax Bill, 2025

Rashmi 19 March 2025 at 08:30

The proposed Income Tax Bill, 2025 introduces a key change in how tax-free perquisites related to employee travel are defined. This change aims to provide more clarity and reduce legal disputes regarding employer-funded transportation expenses.

New Income Tax Bill 2025: A Fresh Approach to Taxation

Rashmi 17 March 2025 at 08:28

This article breaks down the key changes and what they mean for taxpayers.

Major Tax Changes from 1st April: Lower Taxes, Higher Exemptions & Big Benefits for Salaried, Businesses & Seniors

Rashmi 15 March 2025 at 07:34

The Indian government has introduced several tax changes in Budget 2025 to simplify tax filing, reduce compliance burdens, and provide benefits to different income groups

Major Tax Changes for Partnership Firms and LLPs from April 1, 2025

Rashmi 14 March 2025 at 08:59

Starting April 1, 2025, significant income tax changes will apply to partnership firms and Limited Liability Partnerships (LLPs) due to amendments introduced in the Finance Act.

Top Women Empowerment Schemes in India: Transforming Lives in 2025

Rashmi 10 March 2025 at 08:39

The Indian government has launched various schemes to empower women in education, employment, and financial independence. Now, let's explore some of the key women empowerment schemes in India.

Streamlining Tax Credits: How New Form 71 Resolves TDS Mismatch Issues

Rashmi 13 September 2023 at 08:55

The Central Board of Direct Taxes (CBDT) has introduced Form 71, which allows taxpayers to correct incorrect Tax Deducted at Source (TDS) credits for past financial years

Income Tax Department Sends Notices to 22,000 Taxpayers Over Deduction Discrepancies

Rashmi 12 September 2023 at 09:00

The Income Tax Department (ITD) has recently sent out notifications to around 22,000 taxpayers, including salaried individuals, high-net-worth individuals, trusts, and Hindu Undivided Families (HUFs).

Smart Tax Filing, Investment and Legacy Planning: A Guide for Every Age

Rashmi 08 September 2023 at 14:23

If you file your tax return after the due date, it could be considered late filing. You might have to pay a late fee as per Section 234F. However, if you originally filed your return on time (by July 31st) and verified it within 30 days of e-filing, you can still revise it later.

Understanding Impact of New Labor Laws on Employee Leave and Compensation

Rashmi 06 September 2023 at 09:07

Four new labor laws are on the horizon, promising significant changes for both employers and employees. These changes will impact take-home pay, contributions to the Employees' Provident Fund (EPF), calculations of paid leave, and maximum working hours.

Essential Documents and Procedures for Income Tax Audit: A Simplified Guide

Rashmi 29 August 2023 at 15:26

For income tax audit purposes, individuals with business or professional income must maintain specific documents to ensure accurate reporting and prevent tax evasion. This helps the government collect revenue fairly and scrutinize complex financial transactions.