💡 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.

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.

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

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

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