Are you an NRI confused about income tax in India? Don’t worry. Whether you live in Dubai, USA, UK, Canada, or anywhere else, this simple guide will help you understand save tax and how Indian income tax rules apply to you in Assessment Year 2025–26. We’ll explain the important Income Tax sections that matter to … Read more
Crypto investors and traders, Crypto is no longer in the “grey zone” in India. Both Income Tax and GST on cryptocurrency apply in 2025. What Is a VDA (Virtual Digital Asset)? Under Section 2(47A) of the Income Tax Act, VDAs include: These are digital assets you buy/sell online, and now government says – “If it’s … Read more
What is GST on Real Estate? GST (Goods and Services Tax) applies mainly on under-construction properties as a supply of service under Section 7 of CGST Act, 2017. No GST is charged on: GST is applicable only if the sale is made before CC is issued. GST Rates on Property in 2025 (As per Notification … Read more
What is the Composition Scheme? The Composition Scheme under GST is a simple way for small businesses to pay tax at a fixed rate without too much paperwork. It helps small traders, shopkeepers, and local service providers to easily follow GST rules. Best for: When Did It Start? Composition Tax Rates under Section 10(1) (a) … Read more
What is Section 54F? Section 54F of the Income Tax Act allows individuals and HUFs to claim exemption from long-term capital gains (LTCG) if the gains are reinvested in buying or constructing a residential house in India. It applies only when you sell any long-term asset other than a residential house (like land, gold, commercial … Read more
Presumptive Taxation Scheme is a relief for small taxpayers who don’t want to maintain complicated books of accounts. If you are a small business owner, professional, or someone who runs a goods vehicle, the Income Tax Act offers you a simpler way to pay tax under sections 44AD, 44ADA, and 44AE. Let’s understand it in … Read more
📅 Updated: July 2025 | ✍️ By TaxGiveIndia.com Benefits of MSME Registration include easy bank loans, lower interest rates, government subsidies, faster payments from buyers, and special access to government tenders. It helps your business grow with legal and financial support. 💡 What is MSME Udyam Registration? Udyam Registration is a government certificate for small … Read more
1️⃣ GSTR-3B Once Filed – Cannot Be Changed Earlier, many businesses used to adjust figures in GSTR-3B. But now, after 1 July, you cannot edit GSTR‑3B once submitted.✅ Details in GSTR-3B will be picked directly from your GSTR-1.✅ Any correction must be done through GSTR-1A only — and only once per month. 🧾 For example:If … Read more
If you’re filing your Income Tax Return (ITR) for the financial year 2024–25, here new changes—explained in simple terms. 📆 ITR Filing Deadline Extended 🧮 New Income Tax Slabs (Default Regime) The New Regime is now the default tax structure unless you choose the old one. Here’s the slab structure:http://incometax.gov.in/iec/foportal/help/individual/return-applicable-1#taxslabs Income (₹) Tax Rate 0 … Read more
If you get a Notice u/s 148 from the Income Tax Department? This notice is sent when income is not reported correctly, or Income Tax Return (ITR) is not filed, and the department has information that your income has escaped assessment. In this blog, we’ll explain: ✅ What is a Notice under Section 148✅ Reasons … Read more