For international investors putting money into Indian markets, understanding tax deducted at source (TDS) under Section 195 of the Income Tax Act is crucial. The provision directly affects how much tax non-residents pay on their investment returns from India. Both foreign individuals and institutions face complex rules when it comes to capital gains taxation, and […]
Prime Minister Narendra Modi, in his Independence Day address on Friday, announced that next-generation Goods and Services Tax (GST) reforms will be rolled out by Diwali, promising a reduction in taxes on everyday-use items. “I am going to give a great gift on Diwali. In the last eight years, we undertook a major GST reform
Parliament on Tuesday passed the new Income Tax Bill 2025, set to replace the six-decade-old Income Tax Act, 1961. The legislation, aimed at simplifying and modernising tax laws, is expected to come into effect from April 1, 2026. Finance Minister Nirmala Sitharaman, speaking in the Rajya Sabha, described the new law as “leaner and more
New Delhi: When the Goods and Services Tax (GST) came into effect on 1 July 2017, it replaced a maze of central and state indirect taxes with a single, streamlined system. Under the GST framework, goods and services fall into five main slabs—0%, 5%, 12%, 18%, and 28%. The 28% slab stands at the very
The Indian mutual fund market has undergone a major shift with the introduction of Section 194K under the Income Tax Act — a provision that mandates Tax Deducted at Source (TDS) on certain mutual fund earnings. For investors, understanding these rules isn’t just good practice; it’s critical to maximizing net returns and staying compliant with
Introduction Since its introduction on 1 July 2017, India’s Goods and Services Tax (GST) has transformed indirect taxation by unifying multiple levies under a single framework. While GST is divided into multiple slabs—0%, 5%, 12%, 18%, and 28%—the 18% GST slab stands out as the country’s “standard rate.” This category covers a vast range of
Introduction If you’re earning a ₹14 lakh annual salary in the financial year 2025-26, understanding your income tax liability is crucial. With evolving tax rules and two different regimes to choose from, your actual tax outgo can vary significantly depending on the deductions and exemptions you claim. This guide explains the latest tax rates, compares
