Tax

Income Tax Department Merges Forms 15G and 15H into Form 121

The Income Tax Department will merge Forms 15G and 15H into Form No. 121 starting from 1st April 2026.

GST Council Scraps Arrest Power and Raises Prosecution Limit

The GST Council recommended removing arrest provisions under GST and raising the prosecution threshold from ₹1 crore to ₹5 crore.

Lost or Damaged PAN Card: How to Get a Reprint

Reprint a lost or damaged PAN card from Protean or UTIITSL for ₹50. Your PAN stays the same; never apply for a second PAN.

How to Calculate GST: Forward and Reverse Formulas

Add GST by multiplying the base price by (1 + rate); remove it from an inclusive price by dividing by (1 + rate). Split it…

What Is GST? CGST, SGST, IGST and UTGST Explained

GST is India's single tax on supply of goods and services. Sales within a state carry CGST plus SGST; sales across states carry…

Income Tax Department Introduces Form 141 For TDS Reporting

Form 141 replaces forms 26QB, 26QC, 26QD, and 26QE to consolidate PAN-based tax deduction reporting under the Income Tax Act,…

Tax Year Under the New Act: How It Replaces Previous Year and AY

Tax year is the new term for the April-March year you earn income in. It replaces previous year and assessment year from tax year…

Interest for Late Advance Tax: How 234B and 234C Work Now

Short or late advance tax costs 1% simple interest a month: section 234C (now 425) for missed instalments, 234B (now 424) for a…

GST on Insurance: Health, Life and Motor Policies

Individual health and life insurance are GST-free since 22 September 2025. Motor insurance and group policies still carry 18% GST.

Form 16 Becomes Form 130: What Salaried Employees Get From 2027

Form 130 replaces Form 16 for salary paid from 1 April 2026. Your employer must issue it by 15 June 2027; FY 2025-26 still uses…

57th GST Council Meeting on 7 October: Agenda and What to Watch

The 57th GST Council meeting is reported for 7 October 2026, moved from 12 September. ITC, refunds and registration are expected…

Tax on Gold in India: GST at Purchase, Capital Gains at Sale

Gold attracts 3% GST when you buy it. Gains on sale are taxed at slab rates within 24 months, or 12.5% without indexation after…

How to Pay TDS Online With Challan 281 or 281N

Pay TDS on the e-Filing portal via e-Pay Tax > Pay TDS/TCS. Use ITNS 281N for tax deducted from April 2026; deposit by the 7th of…

How to Check a GST Number Is Genuine Before You Pay

Check any GST number free at gst.gov.in under Search Taxpayer. Confirm it is Active and the name and address match your bill.

Old vs New Section Numbers: 80C, 87A, 234B, TDS and More

Under the Income-tax Act, 2025, 80C is section 123, 87A is 156, 115BAC is 202 and 234B is 424. FY 2025-26 returns still use the…