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Opening a bank account is an essential step in managing your finances. In India, it requires submitting specific documents to comply with...

Payment apps have evolved beyond tools to send or transfer money. They have now transformed into everyday financial hubs where users pay bills, save time, and even manage financial obligations. India’s payment landscape is evolving fast, with UPI becoming the backbone of digital payments. As per a press release by the Ministry of Finance, 24,162 Crore UPI transactions worth ₹314 Lakh Crore+ have been clocked in FY26, highlighting the growing reliance on UPI transactions acros

Plug-and-play tax-filing SDKs (Software Development Kits) are a strategic solution for neobanks and SMB applications seeking to embed Income Tax Return (ITR) filing capabilities. Achieving this functionality without extensive custom development is no easy feat. With pre-built software kits, integrating tax filing functionality directly into neobank or SMB banking applications is simple. It allows users to complete tax returns without redirecting to third-party websites. Plug-

Income can be of different types, from salary to business profits, rent, and interest on investments. The concept of casual income is different from all of these standard types of income. Since lottery and betting money are a one-time thing, you may believe you are exempt from paying income tax, but this is untrue. To deter winnings from gambling or betting, the Indian government imposes a fixed tax rate on casual income. The Income Tax Act's Section 115BB addresses the tax r

In India, the Employees' Provident Funds Organisation administers the Employee Provident Fund (EPF), a retirement benefit plan. Employees can save for their retirement with the support of this government-backed savings program. A monthly contribution to the EPF account is made by the employee under this plan, often equal to 12% of their base pay plus dearness allowance. The employer contributes the same amount. The government periodically declares a fixed interest rate on the

An embedded ITR filing solution can make tax filing feel like a natural part of a payroll app, wealth platform, HRMS tool, banking journey, gig platform, or financial wellness product. But the launch should not begin with a filing screen. It should begin with infrastructure readiness. The platform needs to know what data it already has, what tax data must be imported, how users will authenticate, how documents will be stored, how filing status will be tracked, and how updated

According to the Income Tax Act, an individual who must pay taxes or any amount of money to the government is an income tax assessee. Any individual who has earned money or incurred losses is considered an income tax assessee. Any individual liable for another person's income is eligible for a tax refund, is going through the process of having their income assessed, has suffered losses themselves, or another person can be considered an assessee. Here are additional details ab

It is necessary to invest money when starting a firm to keep it afloat. There are some expenses that you have to handle on a monthly, half-yearly, or annual basis if the business begins to expand and generate profits. Some of these costs include salary, rent, earnings, transportation expenses, loans, overdrafts, utility bills, and so forth. To track them appropriately, we can divide them into direct and indirect charges. You should read this article if you are unfamiliar with

Leave Travel Allowance (LTA) is an important salary component that allows salaried employees to claim tax exemptions on domestic travel expenses. It falls under Section 10(5) of the Income Tax Act, 1961, helping reduce taxable income when availed correctly. However, many employees face confusion when their Form 16 does not reflect their LTA claims, making it unclear how to proceed while filing their Income Tax Return (ITR). If your employer has not processed your LTA exemptio

House Rent Allowance (HRA) is a key salary component for employees who live in rented accommodations. It provides tax relief on rental expenses under the old tax regime, helping reduce the taxable portion of salary. The exempt amount depends on factors like actual rent paid, basic salary, and whether the employee lives in a metro or non-metro city. HRA exemption is allowed only under the old tax regime, where it's calculated based on specific conditions laid out in the Income