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For each EPF account holder, nomination is an extremely important step. In the event of the account holder's untimely death, the benefits of their PF contribution , interest, EDLI, and pension will be transferred to the nominee. Members of the EPF can amend or modify the nomination online after it is completed. Form 2, which the employer would submit to the EPFO, was initially used to change a nomination. The procedure has now been streamlined by the EPFO, and members can use

Digital payments gained prominence in 2016 when the National Payments Corporation of India (NPCI) launched the Unified Payment Interface (UPI). Without their banking credentials, you can now quickly pay peers and merchants. All you require is their mobile number or Virtual Payment Address (VPA). While UPI transactions are convenient, you might sometimes face issues due to technical glitches, slow bank services, or other hiccups. It is vital to know how to file a complaint ab

House Rent Allowance (HRA) exemption and Section 80GG deduction are two separate tax benefits under the Indian Income Tax Act that reduce taxable income for individuals paying rent. While HRA exemption under Section 10(13A) is available only to salaried individuals receiving HRA as part of their salary, Section 80GG provides relief to those who pay rent but do not receive HRA, including self-employed individuals. Understanding the distinction between these two helps taxpayer

Section 80C and Section 80CCD are two of the most popular tax-saving provisions under the Income Tax Act, 1961. Both offer significant opportunities to lower taxable income, but their scope and eligibility differ. Section 80C focuses on diversified investments such as ELSS, PPF, and life insurance, while Section 80CCD encourages retirement savings through the National Pension System (NPS). The right choice depends on income level, employment type, and investment goals. Unde

Section 24(b) of the Income Tax Act, 1961 allows taxpayers to claim deductions on the interest paid for home loans taken to purchase, construct, repair, or renovate residential properties. It provides substantial relief for homeowners by reducing taxable income through interest deductions, subject to specific limits and eligibility conditions. For self-occupied houses, the maximum deduction is ₹2,00,000 per year, while for rented properties, there is no upper limit. This sec

Dividend income taxation in India for FY 2024–25 (AY 2025–26) continues under the Income Tax Act, 1961, with key refinements introduced in Budget 2025. The TDS threshold for dividends has been raised to ₹10,000, and new compliance guidelines ensure smoother and more transparent reporting. Since the abolition of Dividend Distribution Tax, the responsibility for paying tax on dividends now lies with investors. Understanding how to compute and report dividend income correctly i

Filing ITR-2 online for AY 2025-26 requires careful preparation, accurate reporting of income sources, and proper bank account validation. Individuals and HUFs with capital gains, multiple properties, foreign assets, or directorships must follow the correct process to ensure smooth filing and timely refunds. This guide provides a detailed, step-by-step overview, covering all schedules, bank account sections, e-verification methods, and common issues, while highlighting how se

Even after filing your Income Tax Return (ITR) on time and accurately, receiving a notice from the Income Tax Department is possible....

A Section 148 Notice is issued by the Income Tax Department when there is reason to believe that a taxpayer’s income has not been fully...

Income Tax notices are a common concern for Indian taxpayers, often triggered by errors, mismatches, or omissions during return filing. Notices may result from undeclared income, incorrect bank details, high-value transactions, or late filing. Understanding the key causes and taking preventive measures ensures smooth compliance and avoids unnecessary scrutiny. Transparent reporting, accurate documentation, and timely filing reduce the risk of notices. Leveraging tools and pla