ArthaShala: Personal Finance & Investing

Tax Simplified: Section 44ADA is the ultimate tool for student freelancers to manage income tax without the stress of complex accounting. Over the past decade, India has witnessed an unprecedented rise in student freelancers. College students today are not just learners; they are content writers, video editors, coders, designers, data analysts, consultants, social media managers, tutors, and digital marketers—often earning substantial income even before graduation. However, earning income introduces a new responsibility: income tax compliance . TL;DR: If you’re a student freelancer, Section 44ADA lets you pay tax on just 50% of your income. No detailed audits, no complex bookkeeping, and minimal stress. Most student freelancers face three major problems: Confusion about whether they need to file Income Tax Returns (ITR) . F...

Navigating the transition from student to professional is challenging, especially when the financial paperwork arrives. If you’ve recently completed an internship, you are likely staring at your bank statement or a confusing email from HR, wondering about taxes. In the volatile economic climate of 2026, where every rupee counts, understanding your tax documents is as crucial as understanding market trends and recession risks . Whether you are a summer intern, a research fellow, or a corporate trainee, the confusion between Form 16 vs Form 16A is a rite of passage. Visual Breakdown: Why employees receive Form 16 (Salary) while most interns receive Form 16A (Non-Salary/Stipend). This guide cuts through the jargon to tell you exactly what you will receive, why you probably won't get a standard salary certificate, and how to cla...

Best Zero Balance Savings Bank Account for Students — 2026 (Deep, Practical Guide) Students need simple, low-cost banking that’s mobile-first, secure, and forgiving of small balances. Here is the definitive guide for 2026. Introduction In 2026, the market still favors zero-balance digital accounts that combine no minimum-balance maintenance with student-friendly features: easy KYC, low charges, a usable debit card (or virtual card), UPI, and discounts on study tools or partner services. This guide explains what to compare, lists the top picks for Indian students in 2026, gives step-by-step account-opening guidance, and finishes with practical recommendations. A student enjoying a stress-free, digital-first zero-balance savings account. Wherever I cite a bank’s features, I rely on official data or trusted aggre...

Editorial Oversight: This guide has been reviewed by the Sahityashala Finance Editorial Desk (Student Wealth & Taxation) to ensure it aligns with RBI Financial Education and SEBI Investor Awareness guidelines. Financial Disclaimer: Establishing an emergency fund is a foundational step in personal finance. However, this article provides educational frameworks and does not constitute individualized financial advice. Always consult a certified advisor for personalized planning. How to Set Up an Emergency Fund on a Student Budget: A Step-by-Step Guide An emergency fund is not a distant “ adult finance ” concept meant for people with mortgages and 10-year careers. For a student, it is often the single most protective financial tool you can build. Think about it: one unexpected event—a cracked phone screen, a medical bill, a sudden laptop breakdown, or a delayed stipend payment—can trigger a disastrous chain reaction. ...

Most discussions around saving in your 20s reduce the question to numbers: how much, how soon, and where to invest. But as we approach 2026, the traditional advice of "save 20% of your salary" is becoming dangerously incomplete. For a student or young adult entering a gig-based, AI-driven economy, the real question is not “How much money should I save?” The real question is: “What kind of future am I preparing myself to be flexible for?” In 2026, your savings are more than just money; they are a personal runway that gives you the freedom to choose your path without fear. In the late 2020s, savings is less about accumulation and more about optionality . If you are looking for a comprehensive roadmap, start with our ultimate financial guide for Indian students . But if you are ready for a deeper strategic shift, read on. 1. The 2026 Real...