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MAINSTAY TAX ADVISORS
Gas at $4: Americans cut back on discretionary spends as fuel bills mountAmericans are adjusting their spending as fuel prices climb. Shoppers are altering routines, visiting discount stores for gas, and cutting ...- ITR filing: 4 disclosures you need to be ready with in new financial yearIndia’s tax department has rolled out updated ITR forms for FY 2025–26, introducing tighter disclosure norms while keeping the overall stru...
- Inherited property, money or investments? Six tax questions every heir needs answers forNavigating taxes after inheriting assets can be complex. Legal heirs can file the deceased's tax returns and receive refunds, but their lia...
- Getting expensive wedding gifts? They’re tax-free, but only if you keep these proofs handyWedding gifts, even those by non-relatives or received before or after the wedding, are exempt from tax. But preserve proofs like wedding i...
- 3.5% remittance tax: Sending money from US to India to upset manyAn upcoming US bill imposes a 3.5% tax on remittances sent by non-citizens, impacting Indians who are a significant portion of the US immig...
- 'Big Beautiful Bill' a nasty deal for NRIs sending cash homeA proposed US bill, dubbed 'One Big Beautiful Bill,' could impose a 3.5% tax on remittances sent abroad by non-citizens, significantly impa...
- TDS, TCS limits hiked in Budget 2025: Seniors, landlords, foreign travellers, students to benefitWhile senior citizens, landlords and those providing professional/technical services are the biggest beneficiaries of the TDS limit hike, t...
- NPS tax benefits: How salaried, self-employed can claim tax deductions for NPS under old, new income tax regimeIncome tax benefits for NPS: You can claim tax deductions against NPS under three sections of the Income-tax Act, 1961 in India: Sections 8...
- LTA or Leave Travel Allowance exemption limit, eligibility, restrictions, documents you need to submit: LTA latest rules hereLeave Travel Allowance (LTA), which is component of your salary, helps cover travel expenses incurred during your vacation. While it covers...
- Central govt employees, private employees can't claim LTA if they don't follow these rules; LTA eligibility, other latest updatesLTA for central govt employees: Employers offer Leave Travel Allowance (LTA) to offset travel expenses during leave. It covers airfare, tra...
- How to file ITR for FY23-24: Claim deductions, exemptions carefully while filing income tax return or you may end up in jailTwo out of three respondents in our survey believed honest people pay more tax, while one out of five respondents felt that the tax authori...
- Makeover likely to give faceless I-T assessment a friendlier face"It is being reviewed to assess effectiveness," said an official, adding that there is a line of thinking that it should be made optional f...
- Inclusion of foreign workers in PF unconstitutional, says High CourtThe move, which is likely to be challenged by govt and the Employees Provident Fund Organisation (EPFO), will impact thousands of expatriat...
- HC strikes down inclusion of foreign workers in PF, calls it unconstitutionalHC's call will likely face resistance from the govt and the PF body because already a large number of expats have either contributed to or ...
- How to claim LTA: Eligibility, LTA rules, documents you need to submit, how much amount you can claim and moreLeave Travel Allowance or LTA, a component in your salary, helps offset travel expenses incurred during your vacation. The benefit extends ...
- HRA tax exemption: HRA fraud with illegal usage of PANs detected by tax dept; how to avail House Rent Allowance, proofsHRA tax fraud: The investigation by the tax department began when authorities stumbled upon purported rent receipts totaling approximately ...
- LTA exemption: Submit tax-saving proofs to employer by March 31 deadline as claiming LTA in ITR is a hassleLTA, usually a component of your salary, covers the expenses of your travel during vacation. The cost incurred for family members who trave...
- Byju’s restructures biz amid exits; Banks advocate unified registry for digital fraudByju’s on Tuesday said it has consolidated four verticals into two, K-10 and exam preparation, as part of moves to restructure its mainstay...
- Zydus Cadila set to bag Kraft Heinz portfolio for Rs 4600 crore, announcement likely on WednesdayET on October 11 had reported that Zydus Cadila is the frontrunner for the Kraft Heinz India portfolio. Zydus Cadila is the country’s fourt...
- RBI seeks sops for remitting profitsRBI has called for a stable tax regime so that Indian cos, which have cumulatively invested $110 bn are encouraged to bring back some of th...
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