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Financial apps today are no longer limited to handling transactions. They have evolved into platforms where users manage loans, track investments, make payments, and take key financial decisions on a regular basis. As these platforms become more central to a user’s financial life, expectations have started to shift. Users are no longer looking at these apps as isolated tools. They expect them to support their financial journey in a more connected and complete way. This shift

Financial apps have steadily evolved from simple transaction tools into platforms where users manage a significant part of their financial lives. Today, a single app can handle payments, credit, investments, and insurance. As users spend more time within these ecosystems, their expectations have also shifted. They no longer see these platforms as utilities for specific tasks. They expect them to support broader financial decisions in a connected way. However, one important pa

From April 1, 2026, India’s tax system is set to undergo a structural shift with the implementation of the Income Tax Act 2025. While the basic tax rates remain largely unchanged, several important updates will affect how income is reported, how deductions are claimed, and how different types of financial transactions are taxed. The focus of these changes is not on increasing the tax burden but on simplifying the overall framework. A unified “Tax Year” system will replace the

From April 1, 2026, India’s withholding tax system undergoes a major restructuring under the Income Tax Act 2025. The changes impact both Tax Deducted at Source (TDS) and Tax Collected at Source (TCS), affecting how businesses deduct, collect, and report taxes. The new framework is not just a rate update. It involves structural changes such as renumbering of TDS sections, revised compliance forms, updated reporting formats, and stricter alignment with digital systems. Certain

Form 130 is designed to provide a complete view of an individual’s salary income, tax deductions, and related details in a standardised format. It also introduces a more detailed structure with multiple sections and annexures, making it easier to understand how income is calculated and how tax has been deducted throughout the year. Another key change is that Form 130 will be generated only through the TRACES portal in an electronic format. This ensures uniformity across emplo

A salary is a type of fixed remuneration that an employee receives for working for a certain amount of time. However, the term "salary" as used in income tax also refers to several additional payments made to employees by their employers. The Income Tax Act's Section 17 contains specifics about the advantages that employers offer to their staff. Salary is the primary income head that is taken into account when submitting an income tax return. The explanation of salary is cove

Income tax in India is a direct tax charged on the income earned by individuals, businesses, and other entities during a financial year. It is one of the primary sources of revenue for the government and plays a key role in funding public services, infrastructure development, and economic growth. The tax is calculated based on predefined slab rates, which vary depending on the level of income and the tax regime selected. The income tax system in India is governed by the provi

Section 393 of the Income Tax Act 2025 introduces a unified framework for Tax Deducted at Source (TDS) in India. It will come into effect from April 1, 2026 and will apply from the Tax Year 2026–27 onward. The new provision replaces multiple TDS sections that were earlier spread across different parts of the Income Tax Act, 1961. Under the earlier law, TDS rules were divided across various sections based on the nature of payment, such as rent, professional fees, interest, and

India’s direct tax system is set to undergo a significant transition with the introduction of the Direct Tax Code (DTC) 2025, which is expected to replace the Income Tax Act, 1961, from April 2026. The new framework is designed to simplify tax laws, improve transparency, and align the system with current economic and digital practices. Over the years, the existing tax law has become complex due to multiple amendments, overlapping provisions, and detailed cross-referencing. Th

The Income Tax Act 2025 introduces a new approach to defining tax periods in India by replacing the earlier system of Financial Year and Assessment Year with a single concept known as the Tax Year. This change will come into effect from April 1, 2026, and will apply to income earned from that date onward. Under the earlier framework, taxpayers were required to understand two separate timelines. The Financial Year referred to the period in which income was earned, while the As