Accountants and tax consultants, Indore

08/04/2026

Confused between TDS applicability for FY 2025-26 & 2026-2027 ?

07/04/2026

Most people think "Tax-Free" in India only means Agriculture. Wrong.

The Income Tax Act, 2025 has specific types of income that are 100% legal and 100% tax-free.

(Yes, even in the New Tax Regime).

1. Agricultural Income:

Let's get the obvious one out of the way.
Income from land used for agricultural purposes in India is exempt. This includes rent from such land or income from selling produce.

2. Life Insurance Payouts - Section 10(10D):

The sum assured + bonus received on maturity is tax-free IF your annual premium is:

➡️< 10% of Sum Assured.
➡️< ₹5 Lakh (for traditional policies bought after April 2023).

Crucial: Death benefits paid to nominees are ALWAYS 100% tax-free, regardless of the amount.

3. Gifts from Relatives:
Received ₹10 Lakh from your sister for your daughter's future? Total Tax = ₹0.

Gifts from "defined relatives" (Spouse, Siblings, Parents, Lineal Ascendants/Descendants) have no upper limit.

Note: The gift is tax-free, but any interest you earn by investing that gift is taxable

4. Wedding Gifts:

Getting married? Any gift (Cash, Gold, Property) received on the occasion of your wedding is 100% tax-free, even if it's from a non-relative/friend.

Note: Keep a gift log/ register. If the tax department asks 3 years later, you’ll need proof it was a wedding gift

5. Share of Profit from a Partnership/LLP:
If you are a partner in a firm or an LLP, the "Share of Profit" you receive is tax-exempt in your hands.
Why? Because the firm has already paid tax on that profit at 30%. You don’t have to pay tax twice on the same income.

6. PPF & Sukanya Samriddhi (SSY) Interest:

The "Triple Exempt" (EEE) status lives on for these schemes.

The interest earned every year? Tax-Free.
The final maturity amount? Tax-Free.

For parents, SSY is the most powerful tax-free compounding tool in India for a girl child.

7. Scholarships & Awards:

Any scholarship granted to meet the cost of education is 100% exempt.

Also, certain Central/State Government awards and rewards (like those for gallantry or academic excellence) are not added to your taxable income.

07/04/2026

07/04/2026

Income-tax Department Releases complete Income-tax Act, 2025 Booklet with Hyperlinked Index as amended by Finance Act, 2026

07/04/2026

Traditional Partnership vs LLP:

Legal & Structural Comparison

05/04/2026

Did you know an HUF cannot be a partner in an LLP?

❌ HUF/Karta (in representative capacity) = Not allowed.

✅ Individual/Body Corporate = Allowed.

Per MCA Circular 2/2016 and Sec 5 of the LLP Act, an HUF is not a "body corporate."

If a Karta joins, it's in their personal capacity only!

03/04/2026

If turnover crossed 5 Crores for the first time in FY 2025-26 then E-Invoicing would be applicable from 01.04.2026.

यदि वित्तीय वर्ष 2025-26 के दौरान आपका टर्नओवर पहली बार ₹5 करोड़ से अधिक हो जाता है, तो 01 अप्रैल 2026 से E-Invoicing के प्रावधान लागू होंगे।

01/04/2026

From 1st April 2026, new income tax rules will come into effect that can directly impact your finances 🗓️

It marks a shift in how your taxes will be calculated and reported.

Here are the major highlights you should care about

01/04/2026

If Aggregate Turnover During FY 2025-26 exceeds the amounts specified below then following new compliances will be applicable w.e.f.01/04/2026

26/03/2026

Major tax reset: Finance Bill 2026 amendments seek to nullify court rulings, reopen cases and protect past tax actions from being struck down on technicalities.

21/03/2026

Income Tax Portal now has TDS Calculator