One stop for everything related to taxes,
Our Blogs

Section 194A of the Income Tax Act, 1961 governs the deduction of Tax Deducted at Source (TDS) on interest income other than interest on securities. It primarily applies to interest earned from fixed deposits, recurring deposits, loans, and advances by Indian residents. The provision ensures that tax is deducted at the source before payment, promoting timely compliance and minimizing evasion. Tax on interest income is deducted when the amount exceeds specified limits, and the

When the tax deducted at source (TDS) exceeds your actual income tax liability, the excess amount becomes refundable under the Income Tax Act, 1961. To receive this refund, a taxpayer must file an Income Tax Return (ITR) for the respective financial year, ensuring all income, deductions, and exemptions are correctly reported. The process involves filing, verification, and refund credit to the taxpayer’s registered bank account. Understanding the steps and timelines helps avo

Form 16A and Form 16B are both TDS certificates under Indian tax laws, but they serve entirely different purposes. Form 16A applies to non-salary income such as interest, rent, or professional fees, while Form 16B is specific to TDS deducted on property transactions above ₹50 lakh. Knowing how these forms differ ensures accurate filing, proper TDS credit claims, and smooth tax compliance. With digital platforms like TaxBuddy simplifying TDS tracking and filing, taxpayers c

Freelancers and consultants in India face unique tax challenges — from managing advance tax payments and GST compliance to selecting the right tax regime. Effective tax planning helps minimize liability and ensures compliance with changing laws. With updates from Budget 2025, freelancers now have clearer options for deductions, presumptive taxation, and reporting income through ITR-3 or ITR-4 forms. Platforms like TaxBuddy simplify these processes using AI-driven tools and e

A domicile certificate is a crucial document that certifies a state's citizens' place of abode. For this reason, getting a copy of this document is crucial since it's required when using a number of government services. Applying for government jobs, state quota admissions, scholarships, and welfare programs all require it. Maharashtra residents can apply for a domicile certificate online using the Aaple Sarkar portal or in person at the offices of the Tehsildar, Sub-Divisiona

The Rent Control Act in India outlines the rights and responsibilities of both tenants and landlords. It regulates rent prices, prevents unfair evictions, and ensures fairness in rental agreements. While the federal law has been around since 1948, each state has crafted its own version, adding rules that reflect the specific needs of its communities. It is important to be aware of tenant protections and landlord rights in the legal structure of rental agreements and the appli

Income overlooked during assessments gets addressed in Sections 147 to 151 of the Income Tax Act. The assessing officer may still assess if they believe that some revenue was disregarded in the Income Tax Return (ITR) , regardless of whether the returns were filed or the evaluation finalized for the same return. This situation is known as income escaping assessment. Section 148A allows taxpayers to present their case on whether an income escaping assessment is necessary. The

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

In India, gold is a valuable item that can be used as collateral in addition to being a cultural icon. The Goods and Services Tax (GST) significantly altered the tax structure for a number of industries, and gold is no exception. In India, the Goods and Services Tax (GST) on gold, a valuable and highly sought-after commodity, has become a crucial consideration for investors and buyers. Currently, the value of gold, both 24 carat and 22 carat, is subject to a 3% GST rate , an

Capital gains exemptions under Sections 54 , 54EC , and 54F allow taxpayers to reduce their tax burden by reinvesting profits from the sale of assets. Each section has distinct conditions, eligible investments, and timelines. Understanding these provisions helps taxpayers plan efficiently and maximize savings. Online platforms like TaxBuddy simplify this process by automatically identifying eligible exemptions and ensuring accurate reporting while filing ITR, making complex