FAST-DS 2026: Eligibility, Tax Calculation and Filing Guide Overview Foreign bank accounts, overseas shares, ESOPs, foreign property, insurance policies and other overseas holdings can create reporting obligations for Indian taxpayers. In some cases, these assets may have remained unreported because […]
Section 354 of the Income Tax Act, 2025: Eligibility and Approval Introduction Section 354 of the Income Tax Act governs the approval of registered non-profit organizations seeking to receive donations eligible for deduction. Under the earlier Income-tax Act, 1961, these […]
Section 137 of the Income Tax Act, 2025 for Political Contributions Introduction Section 137 of the Income Tax Act allows an eligible assessee to claim a deduction for qualifying contributions made during a tax year to a registered political party […]
Form 144 Filing: Complete Guide for Non-Resident Payments Introduction Form 144 filing is required for reporting tax deducted at source from non-salary payments made to non-residents. It is a quarterly TDS statement introduced under the Income-tax Act, 2025 and the […]
Section 156 of the Income Tax Act, 2025: Rebate Rules and Limits Introduction Section 156 of the Income Tax Act, 2025 provides an income tax rebate for resident individuals who satisfy the prescribed income conditions. The provision applies from 1 […]
Form 140 Filing: Due Dates, Documents and Process Introduction Form 140 filing is a quarterly TDS compliance requirement for persons who deduct tax from specified non-salary payments made to resident deductees. Form No. 140 replaces Form No. 26Q under the […]
Section 140 of the Income Tax Act, 2025: Startup Deduction Introduction Section 140 of the Income Tax Act, 2025 allows eligible startups to claim a 100% deduction on profits from their eligible business for three consecutive tax years within the […]
Section 134 of the Income Tax Act, 2025: Rent Deduction Rules Introduction Section 134 of the Income Tax Act, 2025 allows eligible assessees to claim a deduction for rent paid for residential accommodation occupied as their own residence. It applies […]
Section 153 of the Income Tax Act, 2025: Interest Deduction Introduction Section 153 of the Income tax Act, 2025 allows eligible individuals and HUFs to claim a deduction on interest from specified deposits. The limit is ₹10,000 for non-senior individuals/HUFs […]
