Decode Finance
Form 16 is the certificate your employer gives you every year for the tax it deducted from your salary. It shows what you were paid, how your employer worked out your tax, and how much TDS it deposited with the government against your PAN. In Hindi, people simply call it the salary TDS certificate (वेतन … Read more
Most people comparing the old tax regime vs new tax regime are really asking one question: how much in deductions do I need before the old regime saves me money? The answer depends on your salary, and it is smaller than many people expect. For a resident individual with only salary income, the old regime … Read more
The Income Tax Act, 2025 has brought in a small but important change in terminology: the “Tax Year.” This term now replaces the older concepts of Previous Year (PY) and Assessment Year (AY) that taxpayers used under the Income Tax Act, 1961. The actual process of calculating your income hasn’t changed much. What’s changed is … Read more
What is income tax? It’s a question almost every earning individual asks at some point, whether they’re a salaried employee, a business owner, or a freelancer. In simple terms, income tax is the portion of your earnings from your job, business, or investments that you pay to the government. It’s a direct contribution that helps … Read more
The full form of HUF is Hindu Undivided Family. In Hindi it is called हिंदू अविभाजित परिवार (Hindu Avibhajit Parivar). An HUF is a joint Hindu family made up of people descended from a common ancestor, along with their wives and daughters. Income tax law treats it as a separate taxpayer. Once formalised, it gets … Read more