Income Tax

Latest Update ITR-3 notified by IT Department on 30th April 2025 via Notification No. 41/2025 which is applicable for FY […]

Gratuity under the Income Tax Act, 1961, is a lump-sum payment made by an employer to an employee in recognition

The Employees’ Provident Fund (EPF) is a retirement savings scheme governed by the Employees’ Provident Fund and Miscellaneous Provisions Act,

Leave encashment refers to the payment an employee receives in lieu of unutilized earned leave. This lump sum payment is

Leave Encashment is a benefit provided by employers that allows employees to receive a monetary equivalent for unused leave days.

Small Trusts and Institutions are non-profit organisations—charitable trusts, religious trusts, educational societies, and NGOs—operating with limited assets, income, or beneficiaries.

Exemptions refer to specific income components excluded from taxation. For example, the House Rent Allowance (HRA) and Leave Travel Allowance

Introduction to DTAA for NRIs Non-Resident Indians (NRIs) often earn income in multiple countries, which can lead to the issue

The Finance Act 2023 amended Section 115BAC, making the new tax regime the default option from AY 2024-25 (FY 2023-24

Navigating income tax as a Non-Resident Indian (NRI) can be complex due to differing rules based on residency status, income

Section 197 of the Income Tax Act, 1961 offers relief to taxpayers-both residents and non-residents Indians (NRIs)-from excess Tax Deducted

Section 194P of the Income Tax Act of 1961 provides conditions for exempting Senior Citizens from filing income tax returns