Income Tax

Have you recently sold a property, shares, mutual funds, gold or another investment at a profit? If yes, the profit may be taxable as capital gains under the Income-tax Act. Capital gains tax often appears complicated because the applicable tax rate depends on several factors. You must identify the type of asset, calculate how long […]

Introduction Mutual funds can help you build wealth, but the profit you earn from them may attract income tax. The tax amount depends on several factors, such as: Type of mutual fund Fund’s actual investment portfolio Date of purchase Period for which you held the units Nature of income—capital gain or dividend Therefore, you should […]

Introduction The Income-tax Act, 2025 came into effect on 1 April 2026. As a result, the Income Tax Department introduced new numbers and formats for several income-tax forms. Under the new system, Form 16 has become Form 130, whereas Form 16A has become Form 131. Although the form numbers have changed, their basic purpose remains […]

Introduction Many taxpayers get confused while choosing between the old tax regime and the new tax regime. The main reason is simple: the old tax regime allows more deductions, while the new tax regime gives lower tax rates but allows fewer deductions. Therefore, before filing your Income Tax Return, you should compare both regimes carefully. […]

Introduction Tax Collected at Source, commonly called TCS, is a tax collection mechanism where the seller collects a small amount of tax from the buyer at the time of specified transactions. The seller then deposits this tax with the government. In simple words, TCS is not an extra cost forever. It works like advance tax […]