An Employee Stock Ownership Plan (ESOP) is a benefit plan that gives employees ownership interest in the company. In simple terms, it’s a way for a company to give its employees a piece of the business—like a reward for being part of the team. It works by allocating company shares to employees, typically based on
As the new financial year begins and some new tax regime come into play, a lot of people are wondering how they can save more money on taxes. The Indian government came up with a new tax system, called the “new tax regime,” to make things simpler. It offers lower tax rates, which sounds great
Filing your Income Tax Return (ITR) can feel like navigating a maze—especially when you’re faced with multiple ITR forms and no clue which one applies to your situation. Whether you’re a salaried employee, freelancer, business owner, or investor, choosing the correct ITR form is crucial for accurate filing and avoiding penalties. In this blog, we’ll
How Do You Respond to Intimation us 143 ? Income tax return processing involves several steps, from filing the return to receiving the refund or paying additional tax. Once the ITR is filed and verified by taxpayer, the processing of ITR starts. The Income Tax Department processes the return, which involves checking for errors, discrepancies,
AIS AND TIS Explained Filing taxes can often feel overwhelming, especially with multiple income sources and tax deductions. To make this process easier, the Income Tax Department introduced two important tools: Annual Information Statement (AIS) and Taxpayer Information Summary (TIS). These statements provide a clear, detailed, and organized view of a taxpayer’s financial transactions, helping
If you are a salaried employee, you have likely come across Form 16—an important document that plays a key role in your income tax filing. But what exactly is Form 16, and how do you interpret the details it contains? In this guide, we’ll break down everything you need to know about Form 16, its
Recent developments in the tax area can be overwhelming and lead to confusion. Governments often introduces new tax reforms, which can lead to changes in tax rates, deductions, and exemptions. As the tax filing season approaches, taxpayers often find themselves confused about the various types of income tax returns they can file. In this blog,
The Indian tax system has undergone significant changes in recent years, especially with the introduction of the new tax regime. With the recent Union Budget 2025 takeaways and as we approach the financial year 2025-26, taxpayers must evaluate whether the old or new tax regime is more beneficial for them. The decision hinges on various
