KNOWLEDGE CENTER

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