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Section 55 of the Income Tax Act: Capital Gains & Cost of Acquistion and Improvement
Understanding tax laws can often feel complicated, but certain sections are crucial for every taxpayer to know, especially when dealing with property or investments. The Section 55 Income Tax Act is one such vital provision. It plays a key role in determining the tax you pay on profits fr
Written by Suju
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Understanding Section 194JB of Income Tax Act: TDS Applicability on Professional Services 2025
Section 194JB of the Income Tax Act mandates tax deduction at source (TDS) on payments made to professionals or technical service providers. Individuals or Hindu Undivided Families (HUFs) not subject to tax audits must deduct 10% of TDS if payments exceed ₹50,000 in a financial year. This
Written by srivalli susarla
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Tax on 5 Lakh Income in India: Calculation, Rebates, and Tax-Free Options Explained in 2025
When earning an annual income of ₹5 lakh, understanding how much tax you'll owe and how to reduce your liability is crucial. Whether you’re a salaried individual or self-employed, knowing the tax on ₹5 lakh income can help you maximise deductions, avoid common mistakes, and ensure you pay
Written by Suju
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Tax on 15 Lakh Income in India: Detailed Guide on Rates, Deductions, and Taxable Income in 2025
If your annual income exceeds ₹15 lakhs, you enter a higher income tax bracket in India, making tax planning essential to minimise liability. The government offers two tax regimes: the old and the new, each with its structure of slabs, rates, and deductions. Understanding the applicable t
Written by Suju
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