Big Relief on GST: Govt to Cut Down Multiple Tax Rates to Just Two Slabs

Good News on GST! Govt Plans Just Two Tax Slabs Instead of 5-28% Rates      Finance Ministry Reveals Key Details

Big GST Relief Coming Soon!

In his Independence Day speech, Prime Minister Narendra Modi gave a big Diwali gift to the common man.                                         the burden of Goods and Services Tax (GST) is likely to come down with the next phase of reforms.

PM Modi highlighted that the upcoming GST changes are designed to help ordinary citizens, farmers, the middle class, and small and medium businesses (MSMEs).

According to details shared by the Finance Ministry, the government is considering moving to a two-slab GST system – one standard rate and one lower "merit" rate – along with a few special rates for select items. This will replace the current complicated structure of 5%, 12%, 18% and 28% slabs. The final decision is expected in the next GST Council meeting.

On the 79th Independence Day, PM Modi also underlined how GST, introduced in 2017, has been a game-changing reform for the country’s economy.

Key Points on the Upcoming GST Reforms

1.Structural reforms – Making GST simpler and stronger.

2.Rate rationalization – Fewer tax slabs, easier compliance.

Ease of Living – Relief for Consumers and Businesses

The government has already shared its GST reform proposals with the Group of Ministers (GoM) under the GST Council for review. The core idea behind these next-generation GST reforms is to adjust tax rates in a way that benefits everyone – especially the common man, women, students, farmers, and the middle class.

The reforms also aim to end long-standing issues like classification disputes, inverted duty structures, and unstable tax rates. By doing so, the government hopes to make GST simpler, fairer, and more predictable. The bigger picture: a stronger economy, more sectoral growth, and a friendlier environment for doing business.

Key Pillars of the Proposed GST Reforms

1. Structural Reforms https://sktaxlive.blogspot.com/?m=1

• Fixing inverted duty structures (when input tax is higher than output tax) so businesses don’t suffer from credit accumulation and can focus on domestic value addition.

• Streamlining classification rules to reduce disputes, simplify compliance, and create fairness across industries.

• Giving long-term clarity on GST rates and policies to build industry confidence and help businesses plan better.

2. Rate Rationalization

• Lowering taxes on essential and aspirational goods to improve affordability and boost consumption.

• Simplifying the tax structure by moving to just two slabs – standard and merit – with a few special rates for select items.

• Using the fiscal space created by the end of the compensation cess to realign tax rates for long-term sustainability of GST.

These reforms are designed not just as a tax adjustment, but as a roadmap for India’s economic growth, where GST becomes easier to understand, fairer for businesses, and lighter on the common man’s pocket.

3. Ease of Living https://sktaxlive.blogspot.com/?m=1

The government also wants GST to be simpler and hassle-free, especially for small businesses and startups. The focus is on using technology to save time and reduce paperwork.

Key measures being considered include:

• Easy registration: Faster, tech-driven registration processes, designed to be seamless for entrepreneurs and small firms.

• Pre-filled returns: Minimizing manual work and reducing chances of mismatches or errors.

• Quicker refunds: Automated and time-bound refund processing, especially for exporters and businesses facing inverted duty structures. https://sktaxlive.blogspot.com/?m=1

The Centre has shared these reform ideas, built on the three key pillars (structural reforms, rate rationalization, and ease of living), with the Group of Ministers (GoM) for further discussion.

The GST Council will take up the GoM’s recommendations in its upcoming meeting. The government is keen to push for early implementation, so that citizens and businesses can start experiencing the benefits within this financial year itself, according to the Ministry of Finance.

Income tax

Parliament Passes New Income Tax Bill, Replacing Six-Decade-Old Law

 New Delhi, Aug 12 (PTI) – Parliament on Tuesday passed the Income Tax Bill, 2025, replacing the six-decade-old Income Tax Act, 1961. The new law will come into effect from April 1, 2026.

 

Presenting the Bill in the Rajya Sabha, Finance Minister Nirmala Sitharaman said that no new tax rates have been introduced — the focus is purely on simplifying the language to make India’s complex income tax laws easier to understand.

 

The new Bill removes unused provisions and outdated terms, cutting the number of sections from 819 to 536 and chapters from 47 to 23. The total word count has been reduced from 5.12 lakh to 2.6 lakh. 

For the first time, it introduces 39 new tables and 40 new formulas to make the previously dense text of the 1961 law clearer.

 “These changes are not cosmetic — they represent a new, simplified approach to tax administration,” Sitharaman said, responding to a brief debate in the Rajya Sabha, which took place in the absence of the Opposition.

 “This leaner, more focused law is designed to make reading, understanding, and implementation much easier.”

 

Along with the Income Tax Bill, 2025, the House also returned the Taxation Laws (Amendment) Bill, 2025, to the Lok Sabha, which had passed both Money Bills on Monday.

 

Sitharaman further stressed that Prime Minister Narendra Modi has given clear instructions — pandemic or not — that the tax burden on people must not increase.

“We have not increased any taxes,” she said.

She described the taxpayer-friendly Income Tax Act, 2025 — which will replace the 1961 Act — as a milestone for the country’s financial system.

 

“I’m surprised the Opposition doesn’t want to participate. They had agreed in the Business Advisory Committee to debate this Bill in both the Lok Sabha and the Rajya Sabha,” she said.

 

Often, the Opposition accuses the government of avoiding discussions, she pointed out. “We were ready for discussion — we agreed to 16 hours of debate in the Lok Sabha and 16 hours here in the Rajya Sabha. Where are they today?”

 

Earlier, the Opposition had walked out of the Rajya Sabha, demanding a special intensive revision of the electoral rolls in Bihar.

Drafting the new Bill took around 75,000 person-hours, with a dedicated team of Income Tax Department officers working tirelessly on it.

 

The minister informed the House that the Finance Ministry will soon issue a set of Frequently Asked Questions (FAQs) and an information memorandum to help people understand the new legislation better.

 

She added that ministry officials are now busy framing the rules, which will be kept as simple as the Bill itself.

 

Since the new law will come into effect from April 1, 2026, the Income Tax Department’s computer systems will need to be reconfigured to implement it.

 

Earlier, the Opposition had walked out of the Rajya Sabha, demanding a special intensive revision of the electoral rolls in Bihar. 

7 Major Income Tax Changes in 2025 That Could Impact Your Finances

7 Big Income Tax Changes in 2025 That Will Affect Your Money

 The year 2025 has brought several major changes to India’s income tax rules — from a higher tax-free income limit to easier filing deadlines.

 These updates, announced through the Union Budget in February and later government notifications, aim to reduce the tax burden on individuals and make compliance simpler. Knowing about them can help you save money and avoid penalties. Let’s look at the seven most important changes.

 

1. Higher Tax-Free Income Limit

In a major relief for taxpayers, the government has increased the tax-free income limit under the new tax regime to ₹12 lakh. With the standard deduction of ₹75,000, salaried individuals can now earn up to ₹12.75 lakh without paying any tax. This is one of the biggest steps taken to ease the burden on the middle class.

 

2. More Time to File Your Income Tax Return

For non-audit cases, the ITR filing deadline has been extended from 15 July to 15 September 2025. Announced in May, this change gives taxpayers extra time due to system upgrades and aims to make the filing process smoother.

 

3. Double the Time for Filing an Updated Return (ITR-U)

If you’ve made a mistake in your tax return or missed reporting some income, you now have 48 months instead of 24 months to file an updated return (ITR-U). This extended period also allows you to claim a refund for up to four years.

 

4. New Income Tax Bill Passed

In August 2025, Parliament passed a new Income Tax Bill, replacing the old 1961 Act. This marks a major overhaul of India’s tax laws.

5. No More ‘Deemed Rent’ on Vacant Property

If you own a self-occupied or vacant property, you no longer have to declare any ‘notional rent’ as income. This change is especially helpful for government employees who often have to leave properties vacant due to frequent transfers.

 

6. Bigger Relief for Senior Citizens

For those aged 60 and above, the tax exemption limit on interest income under Section 80TTB has been doubled — from ₹50,000 to ₹1 lakh. This will reduce tax liability for many retirees who rely on interest earnings.

 

7. Higher TDS Limit on Rent

The annual rent threshold for deducting TDS has been raised from ₹2.4 lakh to ₹6 lakh. This means fewer people will need to deduct tax on small and medium rent payments.

 

In short, from raising tax-free limits to simplifying rules and extending deadlines, the 2025 tax changes are designed to make life easier for taxpayers. But to get the most out of these benefits, it’s important to stay informed, plan your finances well, and file your returns on time.

Key Highlights of the Revised Income Tax Bill

 

1. ‘Tax Year’ Replaces ‘Assessment Year’

The Bill defines the tax year as the 12-month financial year (April 1 – March 31), removing the old confusion of “previous year/assessment year.” Now, all income earned in a financial year will be taxed in the same “tax year,” making filing simpler.

 

2. No Change in Tax Rates or Slabs

The Bill intentionally leaves existing tax rates and slabs unchanged. The current basic exemption limit and tax brackets remain the same, ensuring continuity for taxpayers.

 

3. Massive Simplification

The length of the law has been cut in half. Overlapping provisions have been merged, and outdated terms removed. For example, multiple sub-sections and legacy cross-references have been replaced with clear tables and sub-clauses. The structure has been reorganized from 47 chapters to 23, and from hundreds of scattered provisions to 536 well-structured sections.

 

4. Unified Deductions

Multiple deductions (like Sections 80C–80U) are now grouped under a single heading — “Deductions in Computing Total Income” — so taxpayers can see all benefits in one place. Notably:

 

Standard deduction on house property is now clearly allowed on rent after municipal tax deduction.

 

Pre-construction home loan interest can now be spread over five years, even for rental properties.

 

These clarifications remove many of the grey areas from the previous law.

5. Digital and Faceless Compliance

The Bill formally codifies the faceless tax system. Assessments, appeals, and notices will now be conducted mainly online, with clear timelines. 

TDS/TCS rules have also been simplified — for example, taxpayers can apply for a ‘zero’ deduction certificate before the start of the year, and even small refunds can be issued after the deadline without penalties.

 

6. NRI Residency Rules

The income-threshold test has been made official. An Indian citizen or Person of Indian Origin (PIO) who stays in India for 120 days (+60 days) in a year will be treated as a resident if their Indian income exceeds ₹15 lakh.

 On the other hand, NRIs earning less than ₹15 lakh in India are exempt from this stricter 60-day rule. In short, high-income NRIs now face tougher criteria to qualify as non-residents.

 

7. Rules for Trusts and Charities

Restrictions on anonymous donations to religious trusts have been eased. The Bill fully restores tax exemption on “anonymous” donations for religious institutions (but still restricts them for charities engaged in social services). This change rewards genuine religious trusts while maintaining transparency.

 

8. Other Amendments

 

Deduction for inter-corporate dividends (Section 80M) has been reinstated.

 Standard pension re-commutation deduction remains intact.

 Rules for carrying forward corporate losses have been made more flexible for “beneficial owners,” following committee recommendations.

key Tax Changes in the Income Tax Bill 2025: Pension, Property, Zero TDS, and More

Commuted Pension, House Property Income, Zero TDS, and Other Changes in the Income Tax Bill 2025

The latest version of the Income Tax Bill, 2025 fixes several drafting errors and will take effect from April 1, 2026, for the financial year 2026–27. These corrections address issues related to zero TDS certificates, standard deductions on house property income, tax deductions on commuted pensions for non-employees, and more.

In this article, we summarise some of the key corrections made in the revised Income Tax Bill, as addressed by the Finance Minister.

On Monday, the Lok Sabha passed the updated Bill, which fixes errors in the earlier draft that could have caused refund issues for taxpayers, made TDS rules more complicated, and restricted certain property-related deductions. Experts say these amendments restore clarity, bring the law in line with long-standing provisions, and help avoid unnecessary litigation.

For individual taxpayers, the main updates include:

•   Refunds for late or revised ITRs

•   Zero TDS certificates

•   Standard deductions on house property income

•   Deductions on pre-construction interest for home loans

Zero TDS Certificates

In April 2025, Wealth Online, with help from EY, highlighted an error in the Bill.

Section 197 of the Income-tax Act, 1961 allowed for both “nil” and “lower” deduction certificates. However, the parallel Section 395 in the Income Tax Bill, 2025 removed the explicit mention of “nil” deduction and only referred to “lower” deduction.

Examples of taxpayers who may need a zero TDS certificate include:

•  Individuals with income below the basic exemption limit of ₹2.5 lakh (old regime) or ₹3 lakh (new regime) for those under 60 years of age

•  Taxpayers with income up to ₹12 lakh eligible for full rebate under Section 87A

•  NRIs claiming DTAA benefits

While one could argue that “nil” is included within “lower” deduction, the lack of clarity created interpretation issues — especially when a zero rate was intended but not explicitly stated.

To avoid such ambiguity and operational challenges, the revised Bill restores the original language from Section 197 of the 1961 Act into Section 395 of the 2025 Bill. Experts say this will provide much-needed relief and prevent unnecessary disputes.

Tax Deduction on Commuted Pension

explains that under Section 10(10A)(iii) of the Income-tax Act, 1961, read with Section 10(23AAB), the law grants full tax exemption on commuted pension payments received from approved pension funds — not just for employees, but also for others, regardless of employment status.

If you want, I can now rewrite the rest of this text in the same clear, human-friendly English so that the whole article flows smoothly without technical jargon. That will make it ready for a blog or news post.

ommuted Pension – Relief for Non-Employees

Originally, Clause 19 of the Income-tax Bill 2025 gave tax exemption on commuted pension only to salaried employees.

This meant people who get pension from approved pension funds but are not employees (like independent contributors or nominees) were left out.

The Select Committee spotted this gap and suggested adding a deduction under Income from Other Sources for such non-employees.

In the revised Bill, Section 93(1)(g) was added — allowing a full deduction on commuted pension for non-employees receiving it from approved pension funds.

The goal is to treat both salaried and non-salaried pensioners equally, in line with the old Income-tax Act, 1961.

This is not a tax exemption but a tax deduction, so the amount is reduced from taxable income instead of being completely ignored for tax purposes.

Standard Deduction on House Property

If you earn income from a house property, you get a standard deduction of 30% on the net annual value after deducting municipal taxes paid.

The new Bill clarifies that this calculation will be done after subtracting municipal taxes — same as the existing Income-tax Act, 1961.

Pre-Construction Interest for Let-Out Properties

Under the current law, interest paid on a home loan for a property (self-occupied or rented) during the pre-construction period can be claimed in five equal yearly installments starting from the year construction finishes.

The first draft of the new Bill only allowed this benefit for self-occupied houses — not rented ones.

The Committee flagged this as unfair and recommended restoring it for rented/deemed rented properties as well.

The revised Bill now gives the benefit for both self-occupied and rented properties, matching the existing law.

Anonymous Donations to Charities

In the February draft of the Bill, the 5% tax exemption for anonymous donations was calculated as 5% of anonymous donations, not 5% of total donations.

This would have greatly reduced the tax-free amount for many non-profits.

The Committee recommended restoring the original method — 5% of total donations — and this change has been included in the revised Bill, bringing it back in line with the current law.

Tax Rules for Vacant Commercial Property

Under the current Income-tax Act, if a property is used (or meant to be used) for business, it’s taxed as business income — not as “Income from House Property.”

Also, the “deemed rent” rule for vacant properties applies only to residential properties, not commercial ones.

In the first draft of the new Bill, only occupied commercial properties were excluded from house property tax.

This wording could have let tax officers treat vacant commercial properties (like idle warehouses, factories, or showrooms) as “deemed rented” and tax them unfairly.

The Committee recommended keeping the same wording as the current law so both occupied and vacant commercial properties are excluded.

This change prevents unnecessary disputes, avoids unfair taxation, and ensures the law matches business realities.

If you like, I can now also turn this into a short, easy-to-read news-style summary so it’s digestible in under 2 minutes. That would make it perfect for readers who just want the highlights.

How to Save ₹1 Crore Quickly on a ₹1 Lakh Monthly Salary

Earning ₹1 lakh a month? Here’s how you can reach ₹1 crore faster.

 Saving ₹1 crore might sound like a huge challenge, but if you’re earning ₹1 lakh a month, you’re already in a strong position. With smart planning and some financial discipline, this goal is more achievable than it appears.

 

Start by making a clear monthly budget. Break your salary into simple categories — essentials like rent, groceries, and bills; savings and investments; and personal spending. This will help you control expenses and make sure a big chunk of your income is actually growing for your future.

Break your ₹1 lakh monthly income into three simple parts:

•  Living expenses: rent, utilities, groceries, and transport.

•   Savings and investments: money set aside to grow your wealth.

•   Other spending: entertainment, eating out, and non-essential purchases.

Try to save at least 30% of your income (₹30,000). If you want to hit ₹1 crore faster, push this up to 40–50%.

Just parking money in a savings account won’t get you there quickly. To grow faster, invest in high-growth options like equity mutual funds, which can offer 12–15% annual returns (depending on the market). The easiest way to do this is through a Systematic Investment

Plan (SIP), where you invest a fixed amount every month.

If you’re open to taking some risk, investing in stocks can deliver high returns. For safer, steady growth, the Public Provident Fund (PPF) is a great choice — it offers tax benefits and earns about 7–8% interest.

Another solid option is the National Pension Scheme (NPS), which blends equity and debt investments while also giving you tax savings.

By investing around ₹30,000 every month, you can grow your wealth significantly thanks to the power of compound interest.

To boost your savings further, reduce your taxable income. Use tax-saving tools like Equity-Linked Savings Schemes (ELSS), PPF, NPS contributions, and claim deductions on health insurance premiums and home loan interest.

This approach frees up more money to invest toward your ₹1 crore goal. Look closely at your spending habits and see where you can cut back — reduce dining out, limit entertainment expenses, and avoid impulse purchases. Choose budget-friendly vacations or keep them to once a year.

Before you start making big investments, build an emergency fund worth three to six months of living expenses. This safety net will help you handle unexpected events, like medical bills or a job loss, without touching your long-term savings.

Track your progress regularly — review your savings and investments every six months. If they’re performing well, you might reach your goal ahead of time.

To speed things up, focus on increasing your income. Ask for a raise or bonus, take up a side hustle, freelance work, or upgrade your skills through certifications and training. Direct any extra earnings straight into your investments to hit your target faster.

For example, if you save ₹40,000 a month (40% of your salary) and invest it in something that earns 12% annually:

•              Year 1: ₹5.76 lakh

•              Year 5: ₹34.24 lakh

•              Year 10: ₹87.92 lakh

•              Year 13: ₹1 crore+

Save more or get higher returns, and you’ll reach ₹1 crore even sooner.

Home Tutoring in India: When Your Child Qualifies and How to Handle Taxes

"Home Tutoring and Taxes: When Kids Can Learn at Home and How to File Your ITR"

In many Indian households, wives boost the family income by tutoring children at home. It’s a popular way to make good use of free time while earning a steady income. But this brings up an important question — does this income fall under income tax? And if it does, how should it be reported?

 To get answers, Money control spoke to chartered accountant and tax expert Suresh Surana, who explained the tax rules and the different options available for people earning from home tutoring.

When Does Home Tuition Income Become Taxable?

According to Suresh Surana, whether your home tuition income is taxable depends on two things — the scale of your activity and your total earnings in a financial year.

If you’re teaching on a small scale — without a commercial setup or a dedicated coaching center — you can show this income under “Income from Other Sources.” However, if your total income (including tuition, interest, and other earnings) crosses the basic exemption limit under the Income Tax Act, you must file an Income Tax Return (ITR).

Under the old tax regime, the basic exemption limits are:

• ₹2.5 lakh for individuals below 60 years
• ₹3 lakh for senior citizens (60–80 years)
• ₹5 lakh for super senior citizens (80 years and above)

Option of Estimated Taxation – Section 44ADA

If your total annual receipts from tuition are less than ₹50 lakh, you can choose the presumptive taxation scheme under Section 44ADA of the Income Tax Act. This is a simplified method where 50% of your total receipts are treated as taxable income, and you don’t need to maintain detailed books of accounts or get them audited.

This option is great for those who want easy, hassle-free compliance. The remaining 50% of your receipts is automatically considered as expenses — even if your actual expenses are lower.

Declaring Actual Income and Claiming Expenses

If you prefer to declare your actual profit (after deducting valid expenses like stationery, internet bills, or a portion of house rent used for tutoring), you must file ITR-3 under Profits and Gains of Business or Profession.

In this case:

• You’ll need to maintain proper accounts under Section 44AA.
• If your income crosses certain limits, an audit may be required.

Alternatively, if you show your tuition earnings under Income from Other Sources, you can file ITR-1 or ITR-2, depending on your total income structure.

Why Filing ITR Matters

The Income Tax Department keeps a close watch on people earning above the exemption limit.

 If you don’t file your ITR despite having taxable income, you could receive notices and face penalties. Non-compliance can also create problems later, especially when applying for loans, visas, or making other major financial moves.

Suresh Surana advises that even small-scale earners should keep proper records of their income and follow tax rules to avoid legal trouble.

Filing your ITR on time not only keeps you compliant but also serves as an official record of income — which can be useful when applying for credit, scholarships, or government benefits.

Bottom of Form

Key Tips for Those Earning from Home Tuition

• Check the exemption limit – If your total income crosses it, filing an ITR is mandatory.
• Income below ₹50 lakh? – You can opt for Section 44ADA for easy, estimated tax calculation.
• Want to claim expenses? – File ITR-3 and report your actual income from business or profession.
• Teaching on a small scale without a setup? – You can show it as Income from Other Sources using ITR-1 or ITR-2.
• Always keep basic records – Even if you use estimated taxation, save payment receipts to answer any future queries.

In short, whether home tutoring is just a side hustle or a major income source, knowing the rules can save you both money and stress. By picking the right filing method and meeting deadlines, you can turn this extra earning into a fully legal, tax-compliant addition to your household income.

How Much Cash Can You Legally Keep at Home in India? The Facts You Should Know

How Much Cash Can You Keep at Home in India? Here’s What the Law Actually Says

 In India, we often hear about Income Tax raids where officials find huge amounts of cash and valuables hidden in homes or offices. Naturally, this makes people wonder — is it illegal to keep cash at home? How much cash can we actually keep? What do the income tax rules say?

 There’s a lot of confusion around this topic. Many people believe there’s a strict “cash limit” for individuals, but these are often just myths passed around without checking any official sources. The truth is a bit different from what most people think.

There’s No Legal Limit on Keeping Cash at Home

 

In India, there’s no law that says you can only keep a certain amount of cash at home. The Income Tax Department has not set any upper limit. However, the important point is that the money must come from a legitimate source. You should declare it in your income tax return (ITR) and be ready to explain where it came from if the authorities ask.

 

What the Law Says

While there’s no cap on how much cash you can store, the Income Tax Act does have rules to ensure that the money is legal and accounted for. These rules mainly focus on how cash is used and how its source is proven.

  

Key Rules You Should Know About Keeping and Using Cash

Section 69A – If tax officers find cash during an audit or raid and you can’t explain its source, it will be treated as your income. In that case, you’ll have to pay 60% tax on it, plus surcharge and cess.

Section 269ST – You cannot receive ₹2 lakh or more in cash from a single person in a single day. Breaking this rule can result in a penalty equal to the amount received.

Sections 269SS & 269T – You can’t accept or repay loans or deposits of ₹20,000 or more in cash. This rule helps prevent black money transactions.

RBI Guidelines – If you deposit more than ₹50,000 in cash at once, banks must report it to the authorities for transparency and compliance.

Why Identifying the Source Matters

The Income Tax Act (Sections 68 to 69B) covers cases where people can’t explain the source of their money or assets. If you fail to prove where your cash came from, it may be considered undisclosed income. In such cases, the tax department can charge heavy taxes and penalties—up to 78% of the total amount.

Keep Proper Records

Even though there’s no legal cap on how much cash you can keep at home, holding large sums without a clear explanation can raise red flags. If tax authorities investigate, you’ll need to show proof of where every rupee came from. This means your income records, business accounts, and ITR filings should clearly reflect the amount.

Who Should Be Extra Careful?

• Business owners – The cash balance in your cashbook must match your official account books.
• Individuals with large cash holdings – You should have official proof, like salary slips, bank statements, or savings records, to back it up.

The Bottom Line
In India, keeping cash at home is perfectly legal. The key is accountability. If your money is honestly earned, properly declared, and supported by documents, you have nothing to worry about. Transparency and accurate records are your strongest protection.

How to Stay Compliant

If you want to keep cash at home without running into legal trouble, here’s what you should do:

• Maintain proper proof – Keep all receipts, bank withdrawal slips, and transaction records to show where the money came from
• Limit large cash dealings – Use digital payments for big transactions to ensure transparency and avoid penalties.
• Be ready for checks – If there’s ever an audit, you should be able to explain and prove the source of every large cash amount.

Keeping cash at home is not illegal in India, but if you can’t explain where it came from, you could face steep penalties. The safest approach is to follow the rules, maintain clean records, and be transparent about your finances.

💡 Remember: Cash transactions above ₹2 lakh from one person in a day are restricted under Income Tax rules. The money you keep at home is fine—as long as it’s legitimate, properly recorded, and not used to evade taxes.