Articles by Pranab Banerjee

What is Advance Tax? Deduction Process, Liability and Penalties Explained

06 October 2025 682 Views

Advance Tax, known as "Pay As You Earn," requires taxpayers with a net liability above Rs 10,000 to pay income tax in instalments throughout the year. Learn who must pay, due dates, calculation steps, exemptions, penalties and benefits of timely payment under the Income Tax Act, 1961.

Budget 2025: Why Most Taxpayers Now Prefer the New Tax Regime

Posted by Pranab Banerjee

03 October 2025 531 Views

Budget 2025 has made the New Tax Regime more attractive with higher rebates, lower rates, and simpler filing. Compare the New vs. Old Tax Regime and see why most taxpayers now prefer the new system in FY 2025-26.

GST 2.0 Price List 2025: What's Cheaper, What's Costlier and How It Affects You

Posted by Pranab Banerjee

29 September 2025 1733 Views

GST 2.0 Price List 2025 is here! Essentials get cheaper, luxuries costlier. Explore full GST reforms & how they affect your monthly budget.

GST Return Filing to Get Easier! CBIC Plans Simpler Process and Monetary Threshold for Demand Notices

Posted by Pranab Banerjee

27 September 2025 2487 Views

CBIC is set to simplify GST compliance by introducing a monetary threshold for demand notices and automating GST return filing. Learn how these reforms will reduce disputes, cut compliance costs, and bring relief to businesses and taxpayers in India.

Optional Tax Regime u/s 115BAC: Exemptions & Deductions Not Allowed

Posted by Pranab Banerjee

26 September 2025 858 Views

Confused between the old vs the new tax regime? Section 115BAC offers lower slab rates but removes most exemptions. Learn benefits, drawbacks and who should opt in.

Aadhaar Card Update Online September 2025: Step-by-Step Guide to Correct a Spelling Mistake

Posted by Pranab Banerjee

25 September 2025 12415 Views

Keep your Aadhaar details accurate to ensure seamless access to government schemes, banking, and essential services. Learn why updating Aadhaar matters, common mistakes to avoid, and how to correct errors like spelling mistakes online with UIDAI's step-by-step process

GST 2.0: Updated GST Rates (Effective 22 Sept 2025) & What They Mean for Your Business

Posted by Pranab Banerjee

24 September 2025 566 Views

India has introduced GST 2.0 with simplified slabs - 0%, 5%, 18% and 40% bringing big changes for essentials, consumer goods, durables and luxury items. Learn the key rate revisions, item movements, and what MSMEs must do now to update billing, pricing and compliance smoothly.

Post Office New Savings Scheme 2025: How to Get Benefits Worth Up to Rs 40 Lakh with Guaranteed Returns

Posted by Pranab Banerjee

23 September 2025 5531 Views

Post Office launches a new savings scheme in 2025 with guaranteed returns and tax benefits. Start small, save consistently and build up to Rs 40 lakh safely with government-backed security.

Section 115 BAC of the Income Tax Act as per Budget 2025

Posted by Pranab Banerjee

22 September 2025 1163 Views

Discover the features of Section 115BAC of the Income Tax Act, the default new tax regime from FY 2023-24. Learn about revised slabs, higher standard deduction, available exemptions and how to switch between old and new tax regimes.

Income Tax Refund Above Rs 50,000: Does the Income Tax Department Delay Big Refunds?

Posted by Pranab Banerjee

20 September 2025 11276 Views

Wondering if the Income Tax Department delays refunds above Rs 50,000? Learn how ITR refunds are processed, typical timelines, common causes of delay and tips to ensure faster credit to your bank account.