https://taxguru.in/income-tax/capital-gains-tax-exemptions-guide.html lipped from: https://taxguru.in/income-tax/capital-gains-tax-exemptions-guide.html Introduction: Capital gains tax can take a substantial bite out of your profits when selling assets, but the Income-tax Act provides a lifeline
Category: Income Tax
Will I have to pay tax on the residual amount after selling an old flat and buying a new one? – Money News | The Financial Express
https://www.financialexpress.com/money/will-i-have-to-pay-tax-on-the-residual-amount-after-selling-an-old-flat-and-buying-a-new-one-3285149/ Clipped from: https://www.financialexpress.com/money/will-i-have-to-pay-tax-on-the-residual-amount-after-selling-an-old-flat-and-buying-a-new-one-3285149/ Tax on Flat Sale: As per Section 54, an individual can save long-term capital gains arising on the sale of RHP by
I-T commences 360 degree profiling of HNI tax evaders – Money News | The Financial Express
https://www.financialexpress.com/money/i-t-commences-360-degree-profiling-of-hni-tax-evaders-3284726/ Clipped from: https://www.financialexpress.com/money/i-t-commences-360-degree-profiling-of-hni-tax-evaders-3284726/ Huge underpayment of taxes among the super-rich even after rate cut in Budget According to data on the I-T department website, 2,16,000
Taxpayers and the Covid impact
https://www.business-standard.com/opinion/columns/taxpayers-and-the-covid-impact-123102400942_1.html Clipped from: https://www.business-standard.com/opinion/columns/taxpayers-and-the-covid-impact-123102400942_1.html Govt data on direct taxes points to ways of expanding the tax net Illustration: Binay Sinha Have more Indians come under the
STCG on Profit From Trading in Shares – The Hindu BusinessLine
https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-stcg-on-profit-from-trading-in-shares/article67438181.ece Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-stcg-on-profit-from-trading-in-shares/article67438181.ece Section 87A of the Income-tax Act,1961 (‘the Act’) has been amended by the Finance Act, 2023, to allow benefit of tax rebate
Your Money: Tax calculators for dummies
https://www.financialexpress.com/money/your-money-tax-calculators-for-dummies-3274535/ Shared by Financial Express android app. Click here to download https://financialexpress.page.link/fe_app
CBDT simplifies angel taxation norms for DPIIT-recognised start-ups – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/cbdt-simplifies-angel-taxation-norms-for-dpiit-recognised-start-ups/article67423208.ece Clipped from: https://www.thehindubusinessline.com/economy/cbdt-simplifies-angel-taxation-norms-for-dpiit-recognised-start-ups/article67423208.ece Angel tax is levied when an unlisted company issues shares to an investor at a price higher than its fair market value
Nearly 70% of taxpayers opted for new PIT regime: CBDT chief | The Financial Express
https://www.financialexpress.com/money/nearly-70-of-taxpayers-opted-for-new-pit-regime-cbdt-chief-3268941/ Clipped from: https://www.financialexpress.com/money/nearly-70-of-taxpayers-opted-for-new-pit-regime-cbdt-chief-3268941/ Direct tax mop-up up 22% on year, against budgeted 11.6% X Around 60-70% of the individual taxpayers have likely shifted to the
👍👍👍👍👍👍👍Understanding Income Tax for Self-Employed Individuals: A Complete Overview
Clipped from: https://www.taxscan.in/understanding-income-tax-for-self-employed-individuals-a-complete-overview/329614/ Top Stories The term “Self-Employed Individual” means any person who is a business owner or a professional who makes income by selling his
Tax query– deductions on account of property taxes and 30% Standarddeduction –Courtesy BusinessLine 8.10.23
[1] property taxes allowed as deduction only on payment basis [2] 30% standard deduction on net annual value [ gross rent less property taxes ]–and
👍👍👍👍👍👍👍Capital Gain Tax Exemption – Date of Acquiring New Property
https://taxguru.in/income-tax/capital-gain-tax-exemption-date-acquiring-property.html Clipped from: https://taxguru.in/income-tax/capital-gain-tax-exemption-date-acquiring-property.html Section 54 of the Income Tax Act offers taxpayers the opportunity to claim a deduction from capital gains income tax when selling
👍👍👍👍👍👍👍Consider Agreement Date for Capital Gains and Section 54/54F Exemption: SC
https://taxguru.in/income-tax/consider-agreement-date-capital-gains-section-54-54f-exemption-sc.html Clipped from: https://taxguru.in/income-tax/consider-agreement-date-capital-gains-section-54-54f-exemption-sc.html Sanjeev Lal Etc Vs CIT (Supreme Court of India) Introduction: In a significant ruling, the Supreme Court of India has provided clarity on
👍👍👍👍👍Municipal Tax allowable as expenditure u/s 24 of Income Tax Act when Assessee paid proportionate Tax to Society: ITAT
lipped from: https://www.taxscan.in/municipal-tax-allowable-as-expenditure-u-s-24-of-income-tax-act-when-assessee-paid-proportionate-tax-to-society-itat/327701/ Top Stories The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the municipal tax shall be allowable as expenditure under Section 24
👍👍👍👍👍👍👍Simplified e-procedure for nil and lower TDS certificates effective from October 1 – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/income-tax-department-notifies-e-procedure-for-nil-lower-tds-certificate/article67371813.ece Clipped from: https://www.thehindubusinessline.com/economy/income-tax-department-notifies-e-procedure-for-nil-lower-tds-certificate/article67371813.ece Assessees can now use Form 13 to apply for these certificates, which are issued when an individual’s estimated tax liability justifies no
👍👍👍👍👍What is the Minimum Fee for Income Tax Appeal Filing and Assessments? Check ICAI’s suggestion here
Clipped from: https://www.taxscan.in/what-is-the-minimum-fee-for-income-tax-appeal-filing-and-assessments-check-icais-suggestion-here/326838/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=What%20is%20the%20Minimum%20Fee%20for%20Income%20Tax%20Appeal%20Filing%20and%20Assessments?%20Check%20ICAI%27s%20suggestion%20here Columns The Committee for Members in Practice (CMP) of ICAI as a part of its commitment to strengthen the Practitioners, has initiated the Revised Minimum
👍👍👍👍👍International credit card spending to remain outside LRS – The Hindu BusinessLine
https://www.thehindubusinessline.com/todays-paper/tp-economy/international-credit-card-spending-to-remain-outside-lrs/article67357260.ece Clipped from: https://www.thehindubusinessline.com/todays-paper/tp-economy/international-credit-card-spending-to-remain-outside-lrs/article67357260.ece New TCS norms for LRS to be come into effect from Oct 1 The notification on spending through International Credit Card abroad
👍👍👍👍👍Angel tax: FinMin notifies valuation methods and guidelines for investors – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/finance-ministrys-new-angel-tax-rules-valuation-methods-and-guidelines-for-investors-notified/article67347316.ece Clipped from: https://www.thehindubusinessline.com/economy/finance-ministrys-new-angel-tax-rules-valuation-methods-and-guidelines-for-investors-notified/article67347316.ece The angel tax, set at 30.6%, applies when unlisted companies issue shares at a price higher than their fair market value The
