💡 Paying rent above ₹50,000 per month? Then TDS compliance is not just the landlord’s responsibility — it’s yours too. Under Section 194-IB, tenants paying high-value rent must deduct TDS before making payment to a resident landlord. Here’s what every tenant should know 👇 🔹 Who needs to deduct TDS? Any individual or HUF paying rent exceeding ₹50,000/month 🔹 TDS Rate ➡️ 2% of total rent paid 🔹 When should it be deducted? 📅 Once in a financial year — usually in March or a

🚨 NRIs often assume every 80C investment automatically gives tax benefits in India. That mistake can lead to incorrect tax filing and unnecessary notices. ✅ NRIs CAN claim deductions under Section 80C — but only for eligible investments linked to taxable Indian income. ✔️ Commonly allowed deductions: • Life insurance premium • ELSS mutual funds • Home loan principal repayment • Tuition fees paid in India ❌ But not every popular investment qualifies for NRIs: • New PPF accoun

⚓ Many seafarers believe: “My salary is foreign income, so I don’t need to worry about taxes in India.” That assumption can become costly if you have additional income sources in India. ✅ You may not need to pay advance tax if: ✔️ Your income is fully foreign ✔️ You qualify as an NRI ✔️ Your foreign salary is exempt in India But the situation changes if you also earn: 🏠 Rental income in India 📈 Capital gains 🏦 Interest income from savings, FDs, or investments ⚠️ In such ca

AIS is a detailed financial statement available on the Income Tax Portal that shows the information the tax department already knows about you.

Paying rent of more than ₹50,000 a month? You may already have a tax obligation you are not aware of. Under the Income Tax Act, tenants — not just landlords — are legally required to deduct TDS before making high-value rent payments. Missing this step can attract interest, penalties, and even an income-tax notice.

If you have been scrolling through WhatsApp groups or news headlines recently, you have probably come across some version of this alarming claim: "All Indians travelling abroad must now get an Income Tax Clearance Certificate or they cannot board their flight." If that sent you into a mild panic, take a breath because it is not true, at least not in the sweeping way it was portrayed. And if you are a seafarer, this topic is even more directly relevant to your livelihood and d

You sit down to file your Income Tax Return at the end of the year. Your total trading income adds up to ₹6.8 lakh. You know the new tax regime offers full relief up to ₹12 lakh. You expect zero tax. Then the ITR computation screen shows tax payable.

At first glance, exempt income appears to have no impact on taxation. However, in practice, even fully exempt components such as Long-Term Capital Gains (LTCG) can influence your overall tax liability in subtle yet significant ways.

The Income Tax Department released new ITR forms for Assessment Year 2026-27 (FY 2025-26) on 31st March 2026. These updates affect ITR-1, ITR-2, ITR-3, and ITR-4 — touching everything from contact details and house property limits to F&O disclosure, balance sheet reporting, and a new late fee provision under Section 234-I. Here is a complete breakdown of every key change, the reason behind it, and how it compares to the earlier position.

Stay ahead of the latest PAN compliance changes with this important update from Tax Harbour. Effective from 1st April 2026, PAN card applications and corrections will require additional documents beyond Aadhaar, along with stricter verification rules. This blog highlights key changes, deadlines, and actionable steps to help individuals avoid delays and ensure a smooth application process.

🚨 Income Tax Notice for NRIs & Seafarers in India (2026 Guide): Reasons, Sections & Solutions

https://drive.google.com/file/d/156aw9a-lXnmEk_kg6hA2x4rY7ZxBQhLL/view?usp=sharing Message from Tax Harbour:- At Tax Harbour, one question we hear from seafarers and Merchant Navy officers after every Union Budget is simple: “Will this affect my foreign salary, residential status, or tax planning while sailing?” The Union Budget 2026 does not introduce any major changes impacting individual taxpayers, and importantly, there are no changes to the income-tax slab rates or prov

Background Determining residential status under Section 6 of the Income-tax Act, 1961 is a critical issue for seafarers and NRIs. Even a small difference in counting days of stay in India can convert a Non-Resident into a Resident, leading to taxation of global income. A recent judgment of ITAT Delhi in the case of Sanjay Bhaskar v. DCIT has provided important judicial clarity on how the number of days of stay in India should be calculated, which is highly relevant for seafar

Over the past few weeks, the Income Tax Department has initiated a focused compliance drive, issuing Section 133(6) notices to seafarers, particularly in certain regions. This clearly indicates an increased scrutiny on the residential status, foreign income, and tax-compliance behavior of Indian seafarers. In light of this development, it is strongly advised that seafarers file their Income Tax Return for FY 2024-25 on or before 31st December 2025, especially if your NRI days

Recently, a number of seafarers, especially those based in Uttar Pradesh, have started receiving notices from the Income Tax Department under Section 133(6) of the Income-tax Act, 1961. These notices request details such as foreign income, CDC reports, and copies of ITRs for FY 2023-24 and FY 2024-25. This development has raised concerns among seafarers. At Tax Harbour, we are committed to providing clarity and guidance. This article explains why these notices are being iss

Understanding the Meaning of “For the Purposes of Employment Outside India” At Tax Harbour, we have received numerous queries from seafarers seeking clarity on how many days outside India are required to qualify as a Non-Resident (NRI) under the newly enacted Income Tax Act, 2025, effective from 1 April 2026. The concern primarily arose because the first version of the Income Tax Bill, introduced on 13 February 2025, replaced the long-standing phrase “for the purposes of empl

At Tax Harbour, we recognize the unique challenges faced by Indian seafarers in meeting their tax obligations. Their work takes them across international waters under unpredictable schedules, making tax compliance more complex than for most professionals. To address these issues, the Tax Harbour Team has submitted the following detailed suggestions to the Income Tax Department, aimed at bringing clarity, fairness, and administrative ease for seafarers under the Indian ta

We at Tax Harbour have recently received several queries regarding the residential status of Indian seafarers working aboard foreign flag vessels operating in Indian coastal waters. These questions often arise in cases where: The salary is credited in foreign currency to a Non-Resident External (NRE) account, The seafarer’s Continuous Discharge Certificate (CDC) bears a “Foreign-Going” (FG) stamp, and The vessel is registered under a foreign flag (e.g., Panama). Legal Framewo