What is TAN and Who Needs It? A Complete Guide for Businesses & Professionals
TAN (Tax Deduction Account Number) is a 10-digit alphanumeric number issued by the Income Tax Department of India. It is mandatory for any person or entity responsible for deducting or collecting tax at source under the Income Tax Act, 1961.
Presumptive Taxation under Section 44AD: A Practical Guide for Small Businesses
Section 44AD of the Income Tax Act, 1961 allows eligible businesses to declare income at a fixed percentage of turnover instead of calculating actual profits.
Income Tax Forms 2026: Big Changes Explained in Simple Words (Old vs New Guide)
India's income tax system is getting a major update from April 2026, and one of the biggest changes is the complete redesign of income tax forms.
Key changes which will come into force from 1 April 2026 in Income Tax
With effect from 1 April 2026, the Income Tax Act, 2025 (“ITA 2025”) will come into force, replacing the Income-tax Act, 1961 (“ITA 1961”). The new legislation introduces structural, conceptual and procedural changes across the direct tax framework.
GST Input Tax Credit on Car Purchase for Company: Rules, Exceptions & Practical Scenarios
Input Tax Credit (ITC) allows a registered taxpayer to claim credit for the GST paid on purchases used for business purposes. This credit can then be adjusted against the GST payable on outward supplies.
Comparison Guide: 44AD vs 44ADA vs Regular Tax – Which Tax Regime Should You Choose?
This practical guide explains the difference between 44AD vs 44ADA vs Regular Tax, helping you understand eligibility, income calculation, compliance requirements, and when each option may be suitable.
What Is Commercial Tax? Meaning, Types & Examples
In simple words, Commercial Tax is a tax imposed by the State Government on commercial activities. It is an indirect tax, meaning the business pays it to the government, but the cost is ultimately recovered from the customer.
How to Do Online Income Tax Return (ITR) Filing in India?
An Income Tax Return (ITR) is a form used to declare your annual income, tax-saving deductions, and taxes paid to the Income Tax Department. Filing ITR is a sign of financial discipline and is mandatory for those whose income exceeds the basic exemption limit.
Form 16 and Form 16A – Meaning, Difference and Importance
When it comes to income tax compliance in India, documents related to Tax Deducted at Source (TDS) play a critical role. Among these, Form 16 and Form 16A are the most commonly used TDS certificates.
Different Ways to Invest in Silver and Its Taxes: What Every Indian Investor Should Know?
Silver has steadily emerged as a practical and affordable investment option for Indian investors. Apart from its cultural significance and aesthetic appeal, silver is increasingly valued for its industrial use and long-term growth potential.