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.

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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.

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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.

20 Most Valuable Coins in the World and Why Collectors Love Them

20 Most Valuable Coins in the World and Why Collectors Love Them 

20 Most Valuable Coins Every Collector Dreams of Owning

Collecting coins can be an exciting hobby — and every now and then, though very rare, you might stumble upon a unique coin worth thousand, even tens of thousands of dollars. The rarest coins can be valued in the millions, but finding one is more of a dream than a realistic expectation.

There are incredible stories, like the person who discovered a rare coin with a metal detector on a beach that later sold for $6 million at auction, or someone who found a valuable piece tucked away in an old attic box. But not everyone gets that kind of lucky break.

Still, don’t let that stop you from checking your jars of coins or spare change — you never know, a small fortune might be hiding right under your nose.

Some coins are so rare they can fetch millions at auction. Others became valuable because of accidental engraving mistakes that slipped through unnoticed — turning them into prized collectibles. And then there are coins from batches that were almost entirely destroyed, making the few surviving pieces highly sought after by collectors.

Let’s explore the fascinating stories behind the world’s most valuable coins and why collectors treasure them so highly.

1. 1795 Flowing Hair Silver Dollar – $2,500

Here’s the twist — the 1794 version of this coin is the real superstar, with only about 150–200 known to exist today, making it one of the most valuable coins in the world. The 1795 version, however, is more common but still highly collectible. In fact, one sold on eBay in September 2021 for nearly $2,500 — not bad for something over two centuries old.

2. 1879 $4 Gold Stella – $2,500

Back in the late 1800s, Europe had the Latin Monetary Union, an effort to create a single currency across multiple countries (similar to the Euro today). The United States designed the $4 Gold Stella in 1879 to match the weight and composition of the union’s coins, like the Austro-Hungarian 8 florin piece. However, the coin was never officially approved for production, which makes it rare and valuable today. In September 2021, a two-coin set sold for around $5,000 at the Smithsonian.

3. 1787 Fugio Cent – $10,000+

Also called the Franklin cent after Benjamin Franklin, this is believed to be the first coin ever circulated in the newly formed United States. Its design is packed with meaning — on one side, there’s a sun and sundial with the Latin word fugio (“time flies”), along with Franklin’s famous phrase “Mind Your Business.” The reverse shows the motto “We Are One” surrounded by a chain of 13 links, representing the original 13 states. Depending on condition, these coins can range from a few hundred dollars to over $10,000, with rare variants fetching even more.

4. Sacagawea Cheerios Dollar – $25,000

In the early 2000s, the last place you’d expect to find a valuable coin was inside a cereal box — but that’s exactly where some lucky people found one. As part of a U.S. Mint promotion, 10 million Cheerios boxes came with a 2000 Lincoln cent, and about 5,500 also included a Sacagawea “Golden Dollar.” A handful of these dollars — around 60 to 70 known today — feature enhanced tail feathers, making them worth between $5,000 and $25,000 depending on their grade and condition.

5. 1893 Morgan Silver Dollar – $550,000

The Morgan Silver Dollar was minted from 1878 to 1904, and again in 1921, and has long been a favorite among collectors. The 1893 version is by far the rarest, with only about 100,000 ever produced. Over the years, many were melted down or lost, making the surviving coins extremely valuable — the finest examples can sell for as much as $550,000.

6. 1943 S Lincoln Wheat Penny – $1,000,000

During World War II, copper was reserved for making ammunition, so pennies were produced using steel coated in zinc. However, a small batch of leftover bronze planchets (the blank discs used to make coins) accidentally made it into the minting process in 1943. Only about 20 to 40 of these bronze pennies are believed to exist today. In 2012, one of them — a 1943 S Lincoln Wheat Penny — sold for an astonishing $1 million.

7. 1943 Lincoln Head Copper Penny – $1,750,000

From the same accidental batch of copper pennies produced during World War II, the 1943 Lincoln Head Copper Penny is one of the most valuable coins ever minted in the U.S. In 2010, a D-mint graded PCGS MS64 Brown example sold for a jaw-dropping $1,750,000.

8. 1894 S Barber Dime – $1,997,500

With only 24 ever minted — and just 9 known to still exist — the 1894 S Barber Dime is one of the rarest coins in the world. No one knows for sure why so few were made, though plenty of rumors exist. In 2016, one of these elusive dimes sold for an incredible $1,997,500.

9. 1804 Bust Dollar – Dexter-Pogue Specimen – $3,865,750

Dubbed one of the rarest and most famous coins in the world, this 1804 Bust Dollar once belonged to renowned numismatist James V. Dexter in the late 1800s. It’s marked with a tiny “D” punched into a cloud on the reverse, indicating Dexter’s ownership. In 2017, as part of the D. Brent Pogue Collection, it sold for $3,865,750.

10. 1804 Bust Dollar – Mickley-Hawn-Queller Specimen – $3,877,500

Another legendary 1804 Bust Dollar, this one was owned by famous collector Joseph J. Mickley in 1858. It later sold at Heritage Auctions in Dallas in 2013 for $3,877,500, further cementing the coin’s status as the “King of U.S. Coins.”

11. 2007 Canadian Gold Maple Leaf – $4,020,000

Compared to centuries-old rarities, this coin is practically brand new. Created in 2007 as a promotional showpiece, the Canadian Gold Maple Leaf is made from 100 kilograms of pure gold. Only six were ever produced, each with a face value of $1 million. Certified by Guinness World Records as the world’s largest gold coin, one sold for $4,020,000.

12. 1804 Silver Dollar – Watters-Childs Specimen – $4,140,000

This 1804 Silver Dollar has a storied past, with owners including the Sultan of Muscat, C.A. Watters, Henry Chapman, and the Childs family, who kept it for more than 50 years. It sold in 1999 for $4,140,000, and in 2016, it received an astonishing bid of $10,575,000 — but the reserve price wasn’t met, so it remained unsold.

13. 1913 Liberty Head V Nickel – $4,560,000

Only five Liberty Head V Nickels were struck in 1913, making them incredibly rare. Two are held in museums, leaving just three in private hands. Strangely, the U.S. Mint has no official record of them being made, adding to the mystery. In 2018, one sold for a staggering $4,560,000.

14. 1787 Brasher Doubloon – EB on Wing – $4,582,500
Before the U.S. Mint was established, private individuals often created coins. Ephraim Brasher, a goldsmith and silversmith in New York City, produced the famed Brasher Doubloon in 1787. One version, with Brasher’s “EB” hallmark stamped on the wing of the eagle, sold in 2014 for $4,582,500, making it one of the most important coins in American history.

15. 723 Umayyad Gold Dinar – $4,800,000

Minted in the year 723, this gold dinar is one of the most historically important coins in the Islamic world — the first to reference a location in present-day Saudi Arabia. It bears the inscription “mine of the commander of the faithful” and was struck from pure gold. With only about a dozen known to exist, one sold at auction in 2019 for $4.8 million.

16. 1343 Edward III Florin – $6,800,000

Nicknamed the Double Leopard for its design featuring King Edward III on his throne flanked by two leopards’ heads, this medieval English coin is both extremely rare and extremely valuable. Only three are known to exist today — two in the British Museum and one found in 2006 by a man using a metal detector. That lucky find sold for $850,000 at the time, but its value has since soared to an estimated $6.8 million.

17. 1787 Brasher Doubloon – EB on Breast – $7,395,000

Another version of Ephraim Brasher’s iconic gold coin, this specimen has the “EB” stamp on the eagle’s chest instead of its wing. Originally worth just $15 in gold when minted in 1787, it sold privately in 2011 for an astonishing $7,395,000.

18. 1787 Brasher Doubloon – $9,360,000

Considered the finest known example of the Brasher Doubloon, this coin was first acquired by collector Matthew Stickney in 1848. In 2021, Heritage Auctions sold it for an incredible $9,360,000 — making it one of the most valuable coins in U.S. history.

19. 1794 Flowing Hair Silver Dollar – $10,016,875

The first silver dollar ever struck by the U.S. Mint, the 1794 Flowing Hair Silver Dollar is incredibly rare, with only a few surviving from the original batch. Featuring Lady Liberty with flowing hair, this particular coin was graded as one of the finest examples in existence. It sold in 2010 for $10,016,875 — setting a world record for any silver coin.

20. 1933 Saint-Gaudens Double Eagle – $18,872,250

The world’s most valuable coin, the 1933 Saint-Gaudens Double Eagle, is wrapped in mystery and legal drama. Originally part of the $20 gold coin series minted from 1907 to 1933, nearly all were recalled and melted during the Great Depression after President Roosevelt took the U.S. off the gold standard. A few escaped, but they were never officially issued, making them illegal to own — except for one coin once owned by King Farouk of Egypt. After a long legal battle, it became the only example legal for private ownership, selling in 2021 for a staggering $18,872,250.

Contents

1795 Flowing Hair Silver Dollar – Worth around $2,500 

1879 $4 Gold Stella – Worth around $2,500

1787 Fugio Cent – Worth $10,000+ 

Sacagawea Cheerios Dollar – Worth up to $25,000

1893 Morgan Silver Dollar – Worth up to $550,000

1943 S Lincoln Wheat Penny – Worth $1,000,000

1943 Lincoln Head Copper Penny – Worth $1,750,000

1894 S Barber Dime – Worth $1,997,500

1804 Bust Dollar – Dexter-Pogue Specimen – Worth $3,865,750 

1804 Bust Dollar – Mickley-Hawn-Queller Specimen – Worth $3,877,500 

2007 Canadian Gold Maple Leaf – Worth $4,020,000

 1804 Silver Dollar – Watters-Childs Specimen – Worth   $4,140,000 

1913 Liberty Head V Nickel – Worth $4,560,000

1787 Brasher Doubloon – EB on Wing – Worth $4,582,500

723 Umayyad Gold Dinar – Worth $4,800,000

1343 Edward III Florin – Worth $6,800,000

1787 Brasher Doubloon – EB on Breast – Worth $7,395,000

1787 Brasher Doubloon – Worth $9,360,000

1794 Flowing Hair Silver Dollar – Worth $10,016,875

1933 Saint-Gaudens Double Eagle – Worth $18,872,250

Conclusion

These coins are some of the most coveted treasures in the world of collecting — rare pieces of history that every serious numismatist dreams of owning. As auctions continue to break records and new discoveries surface, this list is bound to change in the coming years. We’ll be keeping an eye on the auction houses and will share the latest updates whenever these extraordinary coins make headlines again.