Tax filing, ITR forms, deductions, and tax-saving strategies for Indian taxpayers.
Capital Gains Account Scheme: park property sale proceeds for Section 54/54F reinvestment exemption. Two account types, withdrawal rules, worked example.
Senior citizen tax benefits FY 2026-27: Rs 3L exemption (Rs 5L super seniors), 80TTB Rs 50K, 80D Rs 50K, no advance tax, SCSS, simpler ITR.
Section 80G charitable donations: 50 or 100 percent deduction. 80GGA scientific research. 80GGC political party. Rs 2,000 cash limit. Old regime only.
Section 194-IB requires tenants paying rent above Rs 50K/month to deduct 5% TDS. Form 26QC, Form 16C, deadlines, penalties, HRA connection.
EPF withdrawal before 5 years continuous service is fully taxable + 80C reversal trap. TDS rates, exceptions, transfer vs withdraw, partial withdrawal life events.
HUF as separate tax entity in India: own PAN, exemption, 80C, 80D. Formation steps, eligible income, Rs 1L+ tax savings, common mistakes.
NRI taxation in India: residential status tests, NRE/NRO/FCNR account taxation, DTAA benefits, Form 67 FTC, property sale TDS, common mistakes.
FD interest is fully taxable at slab rate. Bank TDS 10% above Rs 40K (Rs 50K seniors). 80TTA does not cover FD; 80TTB does. Reporting + traps.
Section 80E education loan interest deduction: no upper cap, 8-year window from repayment start. Eligibility, worked example, old regime only.
Section 56(2)(x): gifts above Rs 50K aggregate per year from non-relatives are taxable. Relatives list, wedding exemption, inheritance, Rs 269ST cash limit, ITR reporting.
Belated return (Sec 139(4)) and revised return (Sec 139(5)) explained: deadlines, late fees, loss carry-forward rules, filing process, worked examples.
ITR-U lets you file return up to 24 months after AY end. 25% additional tax within 12 months, 50% within 24. Cannot claim refund or reduce tax. Section 139(8A) explained.