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Pay Rent Above 50000? Know This TDS Rule to Avoid Fines

If you're a tenant paying more than ₹50,000 in monthly rent, you could be sitting on a potential tax penalty without realizing it. As per Section 194-IB of the Income Tax Act, even salaried individuals not just business entities are required to deduct 2% Tax Deducted at Source (TDS) from the rent and deposit it with the government. This provision applies to anyone paying high-value rent and is often overlooked, leading to costly mistakes.

Finance & Economics

07 Jul 2025 08:30 AM 673 views

Pay Rent Above 50000? Know This TDS Rule to Avoid Fines

If you're a tenant paying more than ₹50,000 in monthly rent, you could be sitting on a potential tax penalty without realizing it. As per Section 194-IB of the Income Tax Act, even salaried individuals not just business entities are required to deduct 2% Tax Deducted at Source (TDS) from the rent and deposit it with the government. This provision applies to anyone paying high-value rent and is often overlooked, leading to costly mistakes.

Finance & Economics

First Time Filing ITR? Avoid These 7 Common Mistakes

Filing your income tax return (ITR) for the first time is a milestone in financial responsibility, but it also comes with its share of confusion and potential pitfalls. From choosing the correct form to verifying the return, a few missteps can delay refunds or even invite scrutiny from the Income Tax Department. With the ITR filing season for Financial Year 2024–25 now open, new taxpayers must stay alert and informed.

Tips and Tricks

07 Jul 2025 08:29 AM 897 views

First Time Filing ITR? Avoid These 7 Common Mistakes

Filing your income tax return (ITR) for the first time is a milestone in financial responsibility, but it also comes with its share of confusion and potential pitfalls. From choosing the correct form to verifying the return, a few missteps can delay refunds or even invite scrutiny from the Income Tax Department. With the ITR filing season for Financial Year 2024–25 now open, new taxpayers must stay alert and informed.

Tips and Tricks

Aadhaar-PAN Link, ATM Fees, and More: Key Financial Changes From July 1

Starting July 1, 2025, several important changes in the financial sector will come into effect, impacting individual taxpayers, bank customers, and railway travelers. These changes include new regulations for Aadhaar-PAN linking, increased banking fees, and adjustments in railway ticket prices. Below are some of the key updates that individuals should be aware of: Aadhaar-PAN Linking

Finance & Economics

30 Jun 2025 12:16 PM 1.14k views

Aadhaar-PAN Link, ATM Fees, and More: Key Financial Changes From July 1

Starting July 1, 2025, several important changes in the financial sector will come into effect, impacting individual taxpayers, bank customers, and railway travelers. These changes include new regulations for Aadhaar-PAN linking, increased banking fees, and adjustments in railway ticket prices. Below are some of the key updates that individuals should be aware of: Aadhaar-PAN Linking

Finance & Economics

Check These Points Before Filing Your ITR With Form 16

Filing your Income Tax Return (ITR) can be a complex task, especially if you're doing it without professional help. For salaried individuals, Form 16 is a crucial document that simplifies the process by providing details of salary earned and the tax deducted at source (TDS). If you've received your Form 16 and are preparing to file your ITR, it's important to first review the form thoroughly to ensure accuracy.

Finance & Economics

26 Jun 2025 10:15 AM 704 views

Check These Points Before Filing Your ITR With Form 16

Filing your Income Tax Return (ITR) can be a complex task, especially if you're doing it without professional help. For salaried individuals, Form 16 is a crucial document that simplifies the process by providing details of salary earned and the tax deducted at source (TDS). If you've received your Form 16 and are preparing to file your ITR, it's important to first review the form thoroughly to ensure accuracy.

Finance & Economics

Pre-filled ITR Form Mistakes You Must Avoid This Year

Pre-filled Income Tax Return (ITR) forms, introduced by the Income Tax Department, are designed to make tax filing simpler for individuals by auto-filling key financial details. These forms collect data from reliable sources such as your PAN, Aadhaar, Form 16 issued by employers, Form 26AS, and the Annual Information Statement (AIS) to pre-load income, tax paid, deductions claimed, and bank account information. However, despite the convenience, these pre-fille

Business

23 Jun 2025 06:59 AM 1.05k views

Pre-filled ITR Form Mistakes You Must Avoid This Year

Pre-filled Income Tax Return (ITR) forms, introduced by the Income Tax Department, are designed to make tax filing simpler for individuals by auto-filling key financial details. These forms collect data from reliable sources such as your PAN, Aadhaar, Form 16 issued by employers, Form 26AS, and the Annual Information Statement (AIS) to pre-load income, tax paid, deductions claimed, and bank account information. However, despite the convenience, these pre-fille

Business

GST Slab Changes Likely Soon as Govt Begins Revamp Talks

In a major policy development, the Indian government has initiated high-level talks to overhaul the Goods and Services Tax (GST) framework. According to a report by The Economic Times, the discussions aim to streamline the current slab structure, reduce business complexities, and prepare Indian industries for greater global competitiveness. The GST overhaul talks come amid broader tax reform efforts, including the introduction of an income tax simplification bill earl

Business

23 May 2025 01:11 AM 950 views

GST Slab Changes Likely Soon as Govt Begins Revamp Talks

In a major policy development, the Indian government has initiated high-level talks to overhaul the Goods and Services Tax (GST) framework. According to a report by The Economic Times, the discussions aim to streamline the current slab structure, reduce business complexities, and prepare Indian industries for greater global competitiveness. The GST overhaul talks come amid broader tax reform efforts, including the introduction of an income tax simplification bill earl

Business

Swiggy Faces Tax Troubles with Rs 165 Crore Demand for FY 2021-22

Swiggy, the popular online food and grocery delivery platform, is facing new tax troubles with a total tax demand of over Rs 165 crore for the financial year 2021-22. The first of the two orders was issued by the Profession Tax Officer in Pune, Maharashtra, demanding Rs 7.59 crore. This order alleges that Swiggy failed to properly deduct profession tax from its employees' salaries, which is required under the Maharashtra State Tax on Professions, Trades, Callings & Employments Act, 1975.

Business

06 Apr 2025 14:05 PM 1.15k views

Swiggy Faces Tax Troubles with Rs 165 Crore Demand for FY 2021-22

Swiggy, the popular online food and grocery delivery platform, is facing new tax troubles with a total tax demand of over Rs 165 crore for the financial year 2021-22. The first of the two orders was issued by the Profession Tax Officer in Pune, Maharashtra, demanding Rs 7.59 crore. This order alleges that Swiggy failed to properly deduct profession tax from its employees' salaries, which is required under the Maharashtra State Tax on Professions, Trades, Callings & Employments Act, 1975.

Business

Buying Property from an NRI? Here's What Every Indian Buyer Must Know

Buying a property in India can be challenging in itself, but when the seller is a non-resident Indian (NRI), the process becomes even more complex. While location, pricing, and negotiation remain critical, buyers must also navigate a web of tax compliance and documentation requirements. A single error in the transaction can result in steep penalties, especially when it comes to Tax Deducted at Source (TDS) under Section 195 of the Income Tax Act. Unlike typical real estate deals bet

NRI News

28 Mar 2025 02:28 AM 1.39k views

Buying Property from an NRI? Here's What Every Indian Buyer Must Know

Buying a property in India can be challenging in itself, but when the seller is a non-resident Indian (NRI), the process becomes even more complex. While location, pricing, and negotiation remain critical, buyers must also navigate a web of tax compliance and documentation requirements. A single error in the transaction can result in steep penalties, especially when it comes to Tax Deducted at Source (TDS) under Section 195 of the Income Tax Act. Unlike typical real estate deals bet

NRI News

Income Tax Filing for AY 2025-26: Form 16, ITR Process, and What to Do if Form 16 is Delayed

Starting April 1, 2025, taxpayers can begin filing their Income Tax Returns (ITR) for the Assessment Year (AY) 2025-26. Employers will provide Form 16 to salaried employees, which plays a crucial role in filing ITR by summarizing salary details, Tax Deducted at Source (TDS), and other tax-related information for the Financial Year (FY) 2024-25. Understanding Form 16, its contents, and its significance can help taxpayers ensure a smooth and error-free filing process.

Business

13 Mar 2025 07:32 AM 2.31k views

Income Tax Filing for AY 2025-26: Form 16, ITR Process, and What to Do if Form 16 is Delayed

Starting April 1, 2025, taxpayers can begin filing their Income Tax Returns (ITR) for the Assessment Year (AY) 2025-26. Employers will provide Form 16 to salaried employees, which plays a crucial role in filing ITR by summarizing salary details, Tax Deducted at Source (TDS), and other tax-related information for the Financial Year (FY) 2024-25. Understanding Form 16, its contents, and its significance can help taxpayers ensure a smooth and error-free filing process.

Business

Top 5 Last-Minute Tax-Saving Options Before March 31, 2025

As the March 31, 2025 financial year-end approaches, taxpayers under the old income tax regime should focus on tax-saving investments to minimize liabilities. Here are five effective last-minute tax-saving options: Equity-Linked Savings Scheme (ELSS) – A tax-saving mutual fund with a three-year lock-in period, offering deductions under Section 80C for investments up to Rs 1.5 lakh, along with potential high returns from equity marke

Business

18 Feb 2025 07:59 AM 1.18k views

Top 5 Last-Minute Tax-Saving Options Before March 31, 2025

As the March 31, 2025 financial year-end approaches, taxpayers under the old income tax regime should focus on tax-saving investments to minimize liabilities. Here are five effective last-minute tax-saving options: Equity-Linked Savings Scheme (ELSS) – A tax-saving mutual fund with a three-year lock-in period, offering deductions under Section 80C for investments up to Rs 1.5 lakh, along with potential high returns from equity marke

Business

Income Tax Refunds & New Tax Bill 2025: IT Department Clarifies, Experts Raise Concerns

The Income Tax Bill 2025 has raised concerns among taxpayers regarding refund eligibility if an Income Tax Return (ITR) is not filed before the due date. While the Income Tax Department (ITD) has clarified that there is no change in refund provisions, tax experts have pointed out inconsistencies that may impact individual taxpayers. IT Department’s Clarification on Refunds

Business

18 Feb 2025 06:58 AM 1.25k views

Income Tax Refunds & New Tax Bill 2025: IT Department Clarifies, Experts Raise Concerns

The Income Tax Bill 2025 has raised concerns among taxpayers regarding refund eligibility if an Income Tax Return (ITR) is not filed before the due date. While the Income Tax Department (ITD) has clarified that there is no change in refund provisions, tax experts have pointed out inconsistencies that may impact individual taxpayers. IT Department’s Clarification on Refunds

Business

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Pay Rent Above 50000? Know This TDS Rule to Avoid Fines

Pay Rent Above 50000? Know This TDS Rule to Avoid Fines

First Time Filing ITR? Avoid These 7 Common Mistakes

First Time Filing ITR? Avoid These 7 Common Mistakes

Aadhaar-PAN Link, ATM Fees, and More: Key Financial Changes From July 1

Aadhaar-PAN Link, ATM Fees, and More: Key Financial Changes From July 1

Check These Points Before Filing Your ITR With Form 16

Check These Points Before Filing Your ITR With Form 16

Pre-filled ITR Form Mistakes You Must Avoid This Year

Pre-filled ITR Form Mistakes You Must Avoid This Year

GST Slab Changes Likely Soon as Govt Begins Revamp Talks

GST Slab Changes Likely Soon as Govt Begins Revamp Talks

Swiggy Faces Tax Troubles with Rs 165 Crore Demand for FY 2021-22

Swiggy Faces Tax Troubles with Rs 165 Crore Demand for FY 2021-22

Buying Property from an NRI? Here's What Every Indian Buyer Must Know

Buying Property from an NRI? Here's What Every Indian Buyer Must Know

Income Tax Filing for AY 2025-26: Form 16, ITR Process, and What to Do if Form 16 is Delayed

Income Tax Filing for AY 2025-26: Form 16, ITR Process, and What to Do if Form 16 is Delayed

Top 5 Last-Minute Tax-Saving Options Before March 31, 2025

Top 5 Last-Minute Tax-Saving Options Before March 31, 2025

Income Tax Refunds & New Tax Bill 2025: IT Department Clarifies, Experts Raise Concerns

Income Tax Refunds & New Tax Bill 2025: IT Department Clarifies, Experts Raise Concerns

US plans military aircraft deployment to Greenland base amid rising Arctic tensions

Billy Donovan steps down as Chicago Bulls coach: What it means for the team’s future

Buffalo Grove Ice Cream Shop Owner Faces New Lawsuit Over Hidden Cameras

Markets stay resilient as Trump-era geopolitical risks fail to shake investors

G7 summit backs Ukraine, supports US–Iran deal and global AI rules

H-1B Visa Fee Case Faces Setback After Court Upholds US Government Decision

Are Indian Educators Being Sidelined by AI Tutors?

Up Network and DreamSmart Unveil Web3 Smart Glasses with AI

Supreme Court Abortion Pill Ruling: Mail Access to Mifepristone Restored—What It Means Now

New laws take effect in DC, Maryland and Virginia bringing key changes for residents

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