PF Account Number is a 22-digit alphanumeric code assigned by your employer to identify your Employees’ Provident Fund (EPF) account. It helps track your PF contributions, check your PF balance, and process PF withdrawals or transfer claims.Today, all PF accounts are linked to a Universal Account Number (UAN). The UAN acts as a single, permanent ID that connects multiple PF account numbers from different employers, making it easier for employees to view and manage their EPF details online.What is the importance of PF account numberPF account number is essential in tracking contributions of employer as well as the account holder. Having PF account number also benefits in processing withdrawals or even transferring account holder's PF balance to a new employer and claiming pension related benefits or insurance-linked with the PF account. Key HighlightsMethods to Locate PF Account Number - Using UAN, EPFO portal, salary slips, or employer records.Handling Common Issues - Solutions for missing details, job changes, or multiple PF accounts.PF Account Number FormatPF account number is a 22 digit alphanumeric code, which consists of the state code, region code, establishment code, extension code, and member ID. It uniquely identifies the employer and employee for EPF purposes. The PF account number format is as follows:Region Code (2 letters): Represents the state where the regional EPFO office is located.Office code (3 letters): Indicates the specific regional EPFO office. Establishment code (7 digits): Employer or company ID.Extension code (3 digits): Code for the specific branch or extension of the branch.Member ID (7 digits): Employee's unique account numberSample PF account number : MH/BAN/0000064/000/0000123Methods to Find PF Account NumberIn case your employer fails to inform your PF account number, you can follow the steps below to get the PF number:1.

If you have earned income under the head house property, then you should know about these deductions from the total taxable income, such as the standard deduction, the deduction for municipal taxes paid, the deduction on home loan interest for the current period, and the ‘Pre-construction interest’ incurred prior to completion of acquisition/construction. Such deductions allow a taxpayer to reduce the tax outflow from their taxable income.Deduction under Section 24(b) for pre-construction interest (in 5 equal installments over a period of 5 years) cannot be claimed if you are opting for a new tax regime in the case of self-occupied property.In the case of let-out property, the pre-construction interest can continue to be claimed as a deduction u/s 24(b) even if you opt for the new regime.What is Pre-Construction Interest?Pre-construction interest is the interest that an assessee incurs on the home loan taken while the house property is still under construction.Deductions on home loan interest is not allowed when the house is under construction. This pre-construction interest is to be accumulated and can be claimed only after the construction is finished. (i.e., an Occupancy Certificate is received for the house property).Conditions to Claim Deduction Pre-Construction InterestThe following are the conditions to claim a deduction of pre-construction interest:The loan should be taken for the purpose of acquisition or construction of house property.The construction of house property should be completed within 5 years from the end of the financial year in which the loan was obtained.No deduction should have been made for the interest under any other section.Example to Understand How to Claim Pre-Construction InterestPrakash took a loan of Rs.20 lakhs to start construction of his house property in Bhubaneshwar in July 2023. He has been paying EMI of Rs.30,000 ever since.The construction was completed in August 2025, and he received a completion certificate.This house has been on rent since September 2025.

The Senior Citizen Savings Scheme (SCSS) is a government backed savings scheme for senior citizens offering an annual interest rate of 8.5%, paid out monthly. Eligible individuals can invest a minimum of Rs. 1,000 up to Rs. 30 lakh for a period of 5 years. The amount invested is allowed as a deduction under the old tax regime, thus offering tax benefits to investors. Latest Update - Senior Citizen Savings Scheme (SCSS) FY 2026-27ParticularsLatest UpdateQ1 FY 2026-27 Interest Rate8.2% p.a.TDS ThresholdRs.

Intraday trading is treated as speculative business under Section 43(5) and is taxed under the head "Profits and Gains from Business or Profession" at the applicable income tax slab rates. Speculative losses can be set off only against speculative gains and carried forward for 4 assessment years. Depending on the turnover and profit declared, traders may also need to maintain books of account under Section 44AA and undergo a tax audit under Section 44AB.Set-off Rules for Intraday LossIncomeAllowedF&O ProfitNoIntraday ProfitYesOther Business IncomeNoCapital GainsNoTaxpayers are allowed to carry forward the loss for upto 4 subsequent assessment year, provided ITR is filed within the due date. What Is Intraday Trading?Shares bought and sold (long trades) or sold and bought (short trades) within a single trading day is known as intraday trading. The trader’s purpose in intraday trading is not to own the equity shares, but they want to take advantage of the short-term price movements and make profits the very same day. These profits are taxable according to your income tax slabs.Understanding Capital Assets and Trading AssetsA share can be called a ‘Capital Asset’ or ‘Trading Asset or Stock-in-Trade’ depending on whether you are identified as an investor or trader.Investors are those who invest in stocks or other securities for the long term with the intention of holding them for a considerable period. They aim to earn returns through capital appreciation(income on sale of shares) and dividends. The income generated from the sale of shares is taxed as ‘capital gains’.

Windfall tax came into being in the 1970s with the intent to tax the profit of companies generating huge revenue due to an unprecedented event. However, this tax system has been debated since its initiation. As per the Finance Ministry notification, Government has hiked the windfall tax on petrol whereas extending levy cuts to diesel and Aviation Turbine Fuel (ATF) exports as on 1st July 2026. Windfall Tax Update 2026The Central Government has increased the windfall tax on petrol exports while reducing the levy on diesel and ATF exports. The new revised rates will be effective from 1st July 2026. The Special Additional Excise Duty (SAED) on petrol exports has been increased to Rs. 4 per litre from the existing Rs.

TAN stands for Tax deduction and collection Account Number. Every tax deductor is required to obtain TAN. TAN must be quoted in every return submitted to the department. After obtaining your TAN, it is extremely important to register your TAN on two websites: TRACES and income tax e-filing portal. What is TAN?Tax Deduction and Collection Account Number is a 10 digit alphanumeric number provided by the Income Tax Department. Every person responsible for deduction TDS or collecting TCS is mandatorily required to obtain TAN, and is required to quote TAN in TDS/ TCS returns, certificates, and notices related to TDS/TCS returns. Individuals not required to deduct or collect tax, or deductors under section 194-IA is not required to obtain TAN.Prerequisites for Registering TAN on E-filing portalYou must complete the following process before registering TAN on income tax site:Active and valid TAN PAN of the principal contact must be registered on the e-filing portalStep-by-step guide on TAN Registration on the Income Tax PortalGo to the income tax e-filing portal and click the ‘Register’ button.Select the ‘Others’ option.

Form ITR-V stands for 'Income Tax Return-Verification' Form. It is a single-page document that is received when an ITR is filed online without a digital signature. Taxpayers can download a copy of ITR-V from the income tax e-filing website.FY 2025-26 (AY 2026-27) UpdateForm ITR-V for FY 2025-26 (AY 2026-27) has been notified by the CBDT. What is ITR-V?ITR-V is a document generated when you have e-verified your ITR. It serves as a proof that you have e-verified your ITR. t contains high-level information extracted from your ITR like taxable income, taxes paid, TDS deducted, refund eligible, etc.

If you're an Indian resident investing in US stocks, you may be wondering how your investments will be taxed and if there are any exemptions. In this article, we will break down the tax implications of investing in US stocks, specifically focusing on how dividends and capital gains arising from the US stocks will be taxed in both the US and India. Firstly, let's understand the types of income you may receive from investing in US stocks: DividendsCapital Gains on saleTax in USA1. DividendIf a US company earns excess profits, then it may offer to distribute it profits by dividends to stockholders. As and when the Indian Investor earns this dividend incomes from a US Company, it is treated as income arised from US and will be subject to a maximum of 25% tax in the US according to the India-US DTAA. (DTAA is a treaty entered between the countries to avoid the double taxation on the persons having dealings in both the countries)2.

The Double Taxation Avoidance Agreement (DTAA) is a tax treaty signed between India and over 100 countries to ensure that NRIs and taxpayers are not taxed twice on the same income. Under DTAA, income is taxed in only one country or at a reduced rate in both, depending on the terms of the agreement. India has signed DTAA with countries including the US, UK, UAE, Canada, Singapore, and more.What is Double Taxation Avoidance Agreement (DTAA)?DTAA, or Double Taxation Avoidance Agreement, is a treaty signed between two countries to prevent the same income from being taxed twice. Under DTAA, if you earn income in one country while residing in another, you are required to pay tax in only one country or at a significantly reduced rate in both.For NRIs, DTAA is especially important as it protects income earned in India from being taxed both in India and in their country of residence.Few Basic Principles of DTAADTAAIncome Tax ActRemarksIf the treaty does not address a particular disputeBut the Income Tax law contains relevant provisions, Refer to the Income Tax Act for guidance on the matter.If a treaty includes certain provisions But law is silent on dispute resolution mechanismRefer treatyIf the treaty has a provisionIncome tax law also has the same provisionFollow whatever is more beneficial for the taxpayer If treaty has some provisionsLaw has contradictory provisionstreaty will prevailHow to Determine if DTAA is Applicable?Follow these steps to determine which Double Taxation Avoidance Agreement (DTAA) applies in your case:StepQueriesDetailsStep 1Is DTAA applicable?DTAA applies only when the transaction is taxable both in India and in another country. Also, one party involved in the transaction should be a non-resident (NR) or a foreign company (FC).Step 2Which DTAA is applicable?Identify the residential status of the non-resident party.

Whenever capital gains arise on sale of stocks, mutual funds, properties, etc, ITR 2 is applicable for the relevant assessment year. Choosing the right ITR form and disclosing the capital gain income and asset disclosures accurately becomes very crucial to remain tax compliant and avoid notices and penalties. This blog explains how to file ITR for capital gains step by step in a simple and step by step manner.Eligibility Criteria to File ITR-2 FormIf you fulfil the following criteria, then it is mandatory to file the ITR-2 form:Any Indian individual or member of the HUF (Hindu Undivided Family)Resident, RNOR and Non-Resident eligible for ITR-2.Salaried or pensioned individuals having income exceeding Rs.50 lakhs.Individuals earning capital gains from the sale of shares, mutual funds, immovable property, and virtual digital assets.   If you earn rental income from multiple house propertiesIf you earn more than Rs.5,000 from agricultural incomeIf you have foreign assets or generate a foreign incomeIf you are a director in any company (Foreign or domestic)If you hold an unlisted equity share in any company (Foreign or domestic)If you have any brought forward loss or loss to be carried forward under any head of incomeIndividuals earning income through other sources like horse racing, lottery winning, etc.Note: If you are earning from a business, any profession, partnership firm, etc., you are not eligible to file an ITR-2 form.Documents Required to File ITR-2 FormCheck out the essential documents required for filing the ITR-2 form:Aadhaar CardPAN (Permanent Account Number)TDS certificates / Form 26ASForm 16 if you are a salaried IndividualAIS/TIS statement from Income tax portalChallan of the paid taxesBank account detailsOriginal return details (if you are filing for a revised return)Notice-related details (if you are filing in response to any notice)Documents Required For Filing Capital Gain ITR FormFor Sale of Immovable Property :Sales and purchase deeds, improvement cost details, transfer expenses showing the sale value, purchase value and any cost of improvement.Full Address of the Property.Details of the buyer, like PAN and Aadhaar.Necessary supporting document if you claiming exemption u/s 54 or 54ECFor Sale of Mutual funds, Equity shares or Virtual Digital Assets:For the Sale of Mutual funds, you can generate consolidated capital gain statements from CAMs and Kfintech.For the Sale of Equity shares, you can check with your broker for a capital gain statement or Tax P&LFor the sale of Virtual Digital Assets, you can generate Transaction report or Profit and Loss report from the respective exchangesFor any other types of capital, you must have a document showing the sale consideration and the purchase cost details as required.Steps to File Income Tax Returns for Capital Gains on the E-Filing PortalYou can log in to the official portal of the income tax department and file your ITR for capital gains by following these steps: Select Income Tax Returns from ‘e-File’, and then click on ‘Income Tax Returns’ and select ‘File Income Tax Returns’.You need to select the assessment year, for instance, 2025-2026, and select ‘Online’ as the mode of filing.Next, select the form type (ITR-2) after choosing the status. Select the reason for ITR filing and click on ‘continue’On the next page, you can find 5 types of schedules. Click on ‘General’ and select ‘Income Schedule’. Click on ‘Schedule Capital Gains’ and select the appropriate capital asset type from the list.If you want to file for STCG, click on ‘Add Details’ and enter the consolidated amount you have obtained from selling short-term assets and the Cost of Acquisition in a given financial year. However, for long-term capital gains, you need to enter details like purchase price, ISIN, transaction dates, selling price, etc., in Schedule 112A and click on 'Add'.After confirming the required schedules based on LTCG and STCG, you need to review Part B TTI.Once you have reviewed Part B TTI, If there is any additional tax liability, you will get a ‘Pay Now’ option through which you can make tax payments.Proceed with Click on ‘Preview Return’.Once reviewed, proceed with the validation Once it is validated and filed, you need to verify the filed ITR within 30 days.