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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

Capital gains tax on mutual funds is determined by how long the investment is held and the type of fund—equity or debt. The Income Tax Act, 1961, categorizes these gains into short-term and long-term, each attracting distinct tax rates. Budget 2025 has introduced clarity on holding periods, tax slabs, and exemption limits, making compliance easier for investors. With automation-led tax filing platforms like TaxBuddy , reporting capital gains has become simpler and more accur

The Income Tax Department of India is reminding taxpayers that September 15, 2025, is the deadline for submitting their Income Tax Return (ITR)  for the fiscal year 2024–2025. In accordance with Section 139(4) of the Income Tax Act, individuals who do not file by this date may still choose to file a delayed return. A belated return may be submitted until December 31, 2025 (three months before the conclusion of the applicable assessment year 2025–2026) or before the assessment

Employee Stock Option Plans (ESOPs) are a popular way for companies to reward and retain employees by offering ownership in the business. However, these benefits come with tax implications at multiple stages. ESOP taxation in India occurs first when shares are allotted (perquisite tax) and again when they are sold (capital gains tax). Proper reporting in your Income Tax Return (ITR) is crucial to avoid errors, penalties, and scrutiny. Understanding how these taxes apply, how

Section 10 of the Income Tax Act, 1961, offers valuable exemptions that reduce taxable income for salaried employees. These provisions include allowances, reimbursements, and retirement benefits that ease the financial burden while improving compliance efficiency. Understanding these exemptions is essential during salary structuring, bank account verification, and year-end tax planning. By optimizing these benefits under the correct regime, employees can achieve better in-ha

Loss from house property is a common scenario for taxpayers with home loans or multiple properties, especially when the interest payable exceeds rental income. The Income Tax Act, 1961 allows taxpayers to set off such losses against other heads of income, reducing the overall tax burden. However, the extent of this adjustment depends on the tax regime chosen and the nature of the income involved. With updates in the Income Tax Bill 2025, the rules for set-off and carry-forwar

Section 87A of the Income Tax Act offers a direct rebate on tax liability for resident individuals whose taxable income falls below a specific threshold. For FY 2025-26 (AY 2026-27), the government has expanded this benefit, raising the new tax regime limit to ₹12 lakh and enhancing the maximum rebate to ₹60,000. This means many salaried and middle-income earners can now effectively pay zero income tax if their net taxable income is within the eligible range. The Section 87A

Leave Travel Allowance (LTA) exemption for FY 2024-25 is available only to salaried employees opting for the old tax regime under Section 10(5) of the Income Tax Act, 1961. The exemption applies solely to travel within India and covers expenses incurred by the employee and eligible family members. It excludes accommodation, food, and other local costs. LTA can be claimed for up to two journeys in a four-year block, with the current block being 2022–2025. The claim amount is

House Rent Allowance (HRA) remains one of the most significant tax-saving components for salaried individuals. For FY 2024-25, the HRA exemption under Section 10(13A) of the Income Tax Act is available only under the old tax regime. It helps employees reduce their taxable income if they live in rented accommodation and meet specific eligibility conditions. With updated ITR reporting requirements and stricter documentation rules, understanding how to calculate and claim HRA e

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