Buying Property Abroad: LRS & FEMA Rules for Resident Indians
How resident Indians can legally buy property abroad under the LRS: the USD 250,000 limit, loan restrictions, 20% TCS, rental/sale proceeds and Schedule FA disclosure.
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GIFT City for Resident Indians: Account Opening & Investment Guide (2026)
How resident Indians can open a GIFT City IFSC foreign-currency account under LRS and invest in US stocks, global funds and dollar deposits — steps, TCS, tax and caveats.
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Liberalised Remittance Scheme (LRS): $250,000 Limit & TCS Rules (FY 2025-26)
The LRS lets resident Indians remit up to USD 250,000 a year abroad. Permitted uses, what is banned, and the FY 2025-26 TCS rules after the ₹10 lakh threshold change.
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Section 80GG: Claim Rent Deduction When You Get No HRA
No HRA in your salary? Section 80GG lets you deduct rent paid — least of ₹60,000, 25% of income, or rent minus 10% of income. Conditions, Form 10BA and a worked example.
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Clubbing of Income: Spouse, Minor Child & Asset Transfers
Clubbing of income under Section 64: when a spouse’s or minor child’s income is taxed in your hands, the ₹1,500 child exemption, exceptions and key nuances explained.
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Tax Audit under Section 44AB: Limits, Due Dates & Penalty (AY 2026-27)
Who needs a tax audit under Section 44AB: business ₹1 crore (₹10 crore digital), profession ₹50 lakh, and presumptive cases. Due dates for AY 2026-27 and the 271B penalty.
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TDS on Property Purchase: Section 194-IA, 1% & Form 26QB
Buying property worth ₹50 lakh or more? As the buyer you must deduct 1% TDS under Section 194-IA and file Form 26QB. Rules, timelines, Form 16B and penalties explained.
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Tax on Online Gaming & Lottery Winnings: 30% Under 194BA/115BBJ
Online gaming and lottery winnings are taxed at a flat 30% with no deductions. Sections 194BA, 115BBJ, 194B and 115BB explained, with net-winnings calculation and an example.
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Leave Encashment Tax: The ₹25 Lakh Exemption Explained
How leave encashment is taxed in India: fully taxable during service, but exempt up to ₹25 lakh for private employees on retirement under Section 10(10AA). Formula and example.
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Section 89(1) Relief & Form 10E: Cut Tax on Salary Arrears
Received salary arrears that pushed you into a higher slab? Section 89(1) relief and Form 10E explained — how relief is computed and why Form 10E must be filed first.
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Section 80TTA vs 80TTB: Tax-Free Interest on Savings & Deposits
Section 80TTA gives up to ₹10,000 on savings interest; 80TTB gives seniors ₹50,000 on savings, FD and RD interest. Limits, the new-regime exclusion and how they differ.
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Intimation under Section 143(1): How to Read It and Respond
Got a Section 143(1) intimation after filing your ITR? What it means, the three outcomes, the PDF password, common mismatches and how to respond to a demand or refund.