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Top 10 Tax Saving Tips for FY 2025–26 (AY 2026–27)

Introduction With rising incomes and a revised tax system, effective tax planning is key to saving money. The government offers two tax regimes — Old and New — and choosing the right one can significantly impact your tax outgo. Here’s a detailed guide to help you plan better. Latest Income Tax Slabs – FY 2025–26 (AY 2026–27) New Tax Regime (Default Regime) Income Range Tax Rate Up to 4,00,000 Nil 4,00,001 – 8,00,000 5% 8,00,001 – 12,00,000 10% 12,00,001 – 16,00,000 15% 16,00,001 – 20,00,000 20% 20,00,001 – 24,00,000 25% Above 24,00,000 30% Section 87A Rebate : Available for income up to 7 lakh (Old Regime) Available for income up to 12 lakh (New Regime — FY 2025–26 onwards) Full rebate means no tax payable if income ≤ 12 ...

How to File Income Tax Returns (ITR) Online in India – Step-by-Step Guide [FY 2024–25, AY 2025–26]

Introduction: Why Filing ITR Matters in 2025 Income tax is a tax charged on the annual income of an individual or business earned in a financial year. The Income Tax system in India is governed by the Income Tax Act, 1961, which lays out the rules and regulations for income tax calculation, assessment, and collection. Filing your Income Tax Return (ITR) is more than a tax task — it’s a responsible financial habit. Whether you’re salaried, self-employed, or a freelancer, filing helps you: · Avoid penalties · Claim TDS refunds · Get loan approvals and visa clearances · Maintain financial transparency For FY 2024–25 (1 April 2024 to 31 March 2025), returns must be filed in Assessment Year 2025–26 , before 31st July 2025 (non-audit cases). Income Tax Slabs for ...

Old vs New Income Tax Regime in India (FY 2025–26): Which One Should You Choose?

Financial Year 2025–26 AY 2026–27 The income you earn from 1st April 2025 to 31st March 2026 will be taxed in Assessment Year 2026–27 . With Budget 2025 updates, especially the increase in standard deduction under the new regime , choosing the right regime has become even more important. Union Budget 2025: Major Tax Reforms In the Union Budget 2025, Finance Minister Nirmala Sitharaman introduced significant changes to the income tax structure under the new tax regime , aiming to simplify taxation and provide relief to middle-class taxpayers. Key Highlights: No Income Tax for individuals earning up to 12 lakh annually under the new tax regime. Standard Deduction Increased to 75,000 for salaried individuals, effectively making income up to 12.75 lakh tax-free. Section 115BAC of the Income Tax Act governs the new tax regime, offering concessional tax rates with limited exemptions Understanding Section 115BAC Se...

How to Check Your Form 26AS, AIS & TIS Before Filing ITR (FY 2024–25, AY 2025–26)

- July 10, 2025

Introduction: Why Checking 26AS, AIS & TIS is a Must Before Filing ITR Before filing your Income Tax Return (ITR) for FY 2024–25, it is crucial to check your Form 26AS , AIS (Annual Information Statement) , and TIS (Taxpayer Information Summary) . These reports ensure: ✔ No mismatch between your income & tax credits ✔ Your TDS/TCS is fully captured ✔ You avoid errors that may result in notices under Section 143(1) or delayed refunds Even if you are salaried, self-employed, a freelancer, or retired — checking these reports is essential in 2025. What are Form 26AS, AIS & TIS? Know the Difference Report Purpose Why Important? Form 26AS Tax credit statement: TDS, TCS, advance tax paid Shows total tax already deposited in your PAN AIS Detailed statement of all financial transactions (beyond TDS) Captures salary, interest, shares, property sale, M...

NPS vs PPF vs ELSS – Best Tax Saving Investment in 2025

- June 05, 2025

Introduction: Why Tax Saving Is More Than Just Saving Tax In 2025, choosing the right tax-saving investment is not just about reducing your tax bill — it's about growing your wealth smartly. While Section 80C of the Income Tax Act allows deductions up to 1.5 lakh, not all instruments offer the same returns , liquidity , or risk level . Three of the most popular tax-saving options for Indian taxpayers are: · NPS (National Pension System) · PPF (Public Provident Fund) · ELSS (Equity Linked Saving Scheme) But which one is best for you in 2025? Let’s find out. Deep Dive into Each Option 1. NPS – National Pension System What it is: A government-sponsored pension plan for individuals (including private employees and self-employed) to build a retirement corpus. NPS is a long-term retirement-fo...

“Beginner's Guide to GST in India – For Small Businesses and Freelancers”

What is GST? GST (Goods and Services Tax) is a unified indirect tax levied on the supply of goods and services across India. It has replaced various indirect taxes like VAT, service tax, and excise duty. Goods and services are divided into 5 different tax slabs for collection of tax: 0%, 5%, 12%, 18% and 28%. However, petroleum products , alcoholic beverages , and electricity are not taxed under GST and instead are taxed separately by the individual state governments , as per the previous tax system. There is a special rate of 0.25% on rough precious and semi-precious stones and 3% on gold . In addition a cess of 22% or other rates on top of 28% GST applies on several items like aerated drinks, luxury cars and tobacco products. Pre-GST, the statutory tax rate for most goods was about 26.5%; post-GST, most goods are expected to be in the 18% tax range. The tax came into effect from 1 July 2017 t...

Emergency Fund in India: Why It’s a Must for Every Indian & How to Build in 2025

What is an Emergency Fund? An emergency fund is a safety net — a dedicated amount of money kept aside to meet unexpected financial needs like: Hospitalization or medical emergencies Sudden job loss Car or home repairs Family emergencies Business slowdowns (for self-employed) Having this fund prevents debt , keeps you stress-free, and ensures you're always financially secure. Why Emergency Funds Are Especially Important in India India's rising cost of living, lack of universal healthcare, and growing job uncertainties make an emergency fund more crucial than ever . Most people still rely on loans or family, but it's time to be self-reliant. This fund gives you: Financial freedom Peace of mind Protection from debt traps Who Should Build an Emergency Fund & How Much? Whether you earn, study, or manage a household — you need one. 1. Students Start with : 500/month Target : 5,000–10,000 For : Hostel fee hike, gadg...

Top 5 Mistakes to Avoid While Filing Income Tax Return in India (2025)

- June 13, 2025

Introduction: Why Filing Your ITR Correctly Matters in 2025 The Income Tax Return (ITR) season for FY 2024–25 (AY 2025–26) has begun, and lakhs of taxpayers in India will file their returns online. Every year the changes in income tax filling lead to difficulty and some ease at the same time. The process become easy to file income tax return but the changes on portal and in rules make people difficult to understand the things for file own self.This year many changes done on portal to stop the fake deductions and create transparency in filling.While the process has become simpler, many people still make errors that lead to: · Delayed refunds · Tax department notices · Penalties or even scrutiny assessment To save you from these troubles, here are the top mistakes you must avoid while filing your ITR in 2025 , especially if you want ...

GSTR-9 & GSTR-9C: Complete Step-by-Step Guide (Annual GST Returns)

- December 21, 2025

I ntroduction GSTR-9 and GSTR-9C are annual GST returns that summarize the entire year’s GST activity of a registered taxpayer. Since GSTR-9 and GSTR-9C are among the last returns to be filed for a financial year , accuracy is extremely important. Any mismatch here may lead to notices, interest, penalties, or audit issues in future years. This detailed guide explains what GSTR-9 and GSTR-9C are, who must file them, due dates, data requirements, and a step-by-step filing process on the GST portal , written in simple language for Indian taxpayers. What is GSTR-9? GSTR-9 is an annual return that consolidates the details of: Outward supplies (sales) Inward supplies (purchases) Input Tax Credit (ITC) Tax paid Amendments made during the year Key Point GSTR-9 is not a new return , but a summary of GSTR-1 , GSTR-3B , and other GST returns filed during the financial year . What is GSTR-9C? GSTR-9C is a reconciliation statement between: Turnover...

Why I Started The SVibes – My Journey, My Voice

Welcome to **The SVibes** – a space where passion meets purpose! I'm Shubham, the creator of this blog. With over 7 years of hands-on experience in **accounting, GST, TDS, income tax, financial analysis**, and **business finance**, I’ve seen how confusing and overwhelming money matters can be — especially for individuals, freelancers, and small business owners. Why I Started This Blog This blog is born from a simple idea: “What if I could share what I’ve learned over the years and help others grow financially smarter?” Whether it's **basic tax filing**, **budgeting tips**, or **my personal experiences** navigating the world of finance, I want this blog to be both practical and personal. What You’ll Find Here **Smart Finance**: GST, TDS, Income Tax, Money Tips **Personal Experiences**: Real stories from my career and life **Tools & Tutorials**: Step-by-step guides on accounting, Excel, software, and more My Goal To empower you — whether you're a student, freelancer...

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GST 2.0 in India — A Deep Dive With Real Insights (2025)

- January 11, 2026

Goods and Services Tax (GST) in India has come a long way since its launch in 2017. Over the years, I have seen GST evolve from a complex, multi-rate structure into a more stable and practical tax system. Goods and Services Tax (GST) in India underwent its biggest overhaul since inception on 22 September 2025 , ushering in what many tax experts and taxpayers are calling “GST 2.0.” This reform was designed to simplify the tax structure , reduce the everyday tax burden , and encourage consumption — while ensuring revenue for the government by strategically taxing luxury and harmful goods. In this blog, I’ll walk you through the new GST structure , key changes , item-wise live examples , what this means for your wallet/business , and my own take based on how these reforms are playing out on the ground. 🔢 What Changed — The New GST Structure The most fundamental change is the shift from the earlier four-slab system (5%, 12%, 18%, 28%) to a simplified tiered structur...

Top 10 Tax Saving Tips for FY 2025–26 (AY 2026–27)

Introduction With rising incomes and a revised tax system, effective tax planning is key to saving money. The government offers two tax regimes — Old and New — and choosing the right one can significantly impact your tax outgo. Here’s a detailed guide to help you plan better. Latest Income Tax Slabs – FY 2025–26 (AY 2026–27) New Tax Regime (Default Regime) Income Range Tax Rate Up to 4,00,000 Nil 4,00,001 – 8,00,000 5% 8,00,001 – 12,00,000 10% 12,00,001 – 16,00,000 15% 16,00,001 – 20,00,000 20% 20,00,001 – 24,00,000 25% Above 24,00,000 30% Section 87A Rebate : Available for income up to 7 lakh (Old Regime) Available for income up to 12 lakh (New Regime — FY 2025–26 onwards) Full rebate means no tax payable if income ≤ 12 ...

How to Check Your Form 26AS, AIS & TIS Before Filing ITR (FY 2024–25, AY 2025–26)

- July 10, 2025

Introduction: Why Checking 26AS, AIS & TIS is a Must Before Filing ITR Before filing your Income Tax Return (ITR) for FY 2024–25, it is crucial to check your Form 26AS , AIS (Annual Information Statement) , and TIS (Taxpayer Information Summary) . These reports ensure: ✔ No mismatch between your income & tax credits ✔ Your TDS/TCS is fully captured ✔ You avoid errors that may result in notices under Section 143(1) or delayed refunds Even if you are salaried, self-employed, a freelancer, or retired — checking these reports is essential in 2025. What are Form 26AS, AIS & TIS? Know the Difference Report Purpose Why Important? Form 26AS Tax credit statement: TDS, TCS, advance tax paid Shows total tax already deposited in your PAN AIS Detailed statement of all financial transactions (beyond TDS) Captures salary, interest, shares, property sale, M...

Old vs New Income Tax Regime in India (FY 2025–26): Which One Should You Choose?

Financial Year 2025–26 AY 2026–27 The income you earn from 1st April 2025 to 31st March 2026 will be taxed in Assessment Year 2026–27 . With Budget 2025 updates, especially the increase in standard deduction under the new regime , choosing the right regime has become even more important. Union Budget 2025: Major Tax Reforms In the Union Budget 2025, Finance Minister Nirmala Sitharaman introduced significant changes to the income tax structure under the new tax regime , aiming to simplify taxation and provide relief to middle-class taxpayers. Key Highlights: No Income Tax for individuals earning up to 12 lakh annually under the new tax regime. Standard Deduction Increased to 75,000 for salaried individuals, effectively making income up to 12.75 lakh tax-free. Section 115BAC of the Income Tax Act governs the new tax regime, offering concessional tax rates with limited exemptions Understanding Section 115BAC Se...

How to File Income Tax Returns (ITR) Online in India – Step-by-Step Guide [FY 2024–25, AY 2025–26]

Introduction: Why Filing ITR Matters in 2025 Income tax is a tax charged on the annual income of an individual or business earned in a financial year. The Income Tax system in India is governed by the Income Tax Act, 1961, which lays out the rules and regulations for income tax calculation, assessment, and collection. Filing your Income Tax Return (ITR) is more than a tax task — it’s a responsible financial habit. Whether you’re salaried, self-employed, or a freelancer, filing helps you: · Avoid penalties · Claim TDS refunds · Get loan approvals and visa clearances · Maintain financial transparency For FY 2024–25 (1 April 2024 to 31 March 2025), returns must be filed in Assessment Year 2025–26 , before 31st July 2025 (non-audit cases). Income Tax Slabs for ...

Top 5 Mistakes to Avoid While Filing Income Tax Return in India (2025)

- June 13, 2025

Introduction: Why Filing Your ITR Correctly Matters in 2025 The Income Tax Return (ITR) season for FY 2024–25 (AY 2025–26) has begun, and lakhs of taxpayers in India will file their returns online. Every year the changes in income tax filling lead to difficulty and some ease at the same time. The process become easy to file income tax return but the changes on portal and in rules make people difficult to understand the things for file own self.This year many changes done on portal to stop the fake deductions and create transparency in filling.While the process has become simpler, many people still make errors that lead to: · Delayed refunds · Tax department notices · Penalties or even scrutiny assessment To save you from these troubles, here are the top mistakes you must avoid while filing your ITR in 2025 , especially if you want ...

Advance Tax in India Explained with Examples (FY 2025–26 | AY 2026–27)

- December 29, 2025

📘 Introduction: What is Advance Tax & Why It Matters? Advance Tax means paying income tax in parts during the financial year , instead of paying it all at once while filing the Income Tax Return (ITR). In India, income tax follows the “pay as you earn” principle. If you earn income throughout the year, the government expects you to pay tax during the year itself. Failing to pay advance tax on time can result in interest penalties under Sections 234B and 234C , even if you eventually pay full tax while filing ITR. ✅ Who Is Required to Pay Advance Tax? You must pay advance tax if: · Your total tax liability exceeds ₹10,000 in a financial year · You have income from: o Business or profession o Freelancing / consultancy o Rent o Capital gains o Interest, dividend...

“Beginner's Guide to GST in India – For Small Businesses and Freelancers”

What is GST? GST (Goods and Services Tax) is a unified indirect tax levied on the supply of goods and services across India. It has replaced various indirect taxes like VAT, service tax, and excise duty. Goods and services are divided into 5 different tax slabs for collection of tax: 0%, 5%, 12%, 18% and 28%. However, petroleum products , alcoholic beverages , and electricity are not taxed under GST and instead are taxed separately by the individual state governments , as per the previous tax system. There is a special rate of 0.25% on rough precious and semi-precious stones and 3% on gold . In addition a cess of 22% or other rates on top of 28% GST applies on several items like aerated drinks, luxury cars and tobacco products. Pre-GST, the statutory tax rate for most goods was about 26.5%; post-GST, most goods are expected to be in the 18% tax range. The tax came into effect from 1 July 2017 t...

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Advance Tax in India Explained with Examples (FY 2025–26 | AY 2026–27)
Emergency Fund in India: Why It’s a Must for Every Indian & How to Build in 2025
GSTR-9 & GSTR-9C: Complete Step-by-Step Guide (Annual GST Returns)
How to Check Your Form 26AS, AIS & TIS Before Filing ITR (FY 2024-25 , AY 2025-26)
How to File Income Tax Returns (ITR) Online in India – Step-by-Step Guide [FY 2024–25, AY 2025–26]
National Pension System (NPS) -Complete Guide from Opening to Closure (2025)
NPS vs PPF vs ELSS - Best Tax Saving Investment in 2025
Old vs New Income Tax Regime in India (FY 2025–26): Which One Should You Choose?
Top 10 Tax Saving Tips for FY 2025–26 (AY 2026–27)
Top 5 Mistake to Avoid While Filing Income Tax Return in India (2025)
“Beginner's Guide to GST in India – For Small Businesses and Freelancers”

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