You can set off the taxable long-term capital gains against a shortfall in your basic exemption limit; In the case of joint buyers of a property, every joint owner has to deduct tax on the amount paid for the asset
A majority of non-resident Indians have said that deduction of 20-23 per cent tax at source is a huge dampener while selling property, and it should be decreased in the upcoming Budget
Here's how the most popular cryptocurrency, Bitcoin, performed in 2022.
The CBDT chief said the board will "divert" manpower from its present cadre to man the 100 posts of joint commissioner for this purpose
You need to check your Indian residency status, tax deducted at source (TDS), if any, and Double Taxation Avoidance Agreement (DTAA) to determine the applicable dues.
If you have taken a loan from friend or family, or given one to them, and are paying or earning interest on the loaned amount, then you need to comply with the income tax rules, too
It is also proposed to define the ‘Market linked Debenture’ as a security, which has an underlying principal component in the form of debt security and where the returns are linked to market returns on other underlying...
You need to pay advance tax if your total tax liability for the respective assessment year is more than Rs 10,000. But it needs to be paid in four quarterly instalments. Should you miss paying one instalment, you will have...
If spouse is taxpayer, claim for deduction can be made for third child as well. Deduction in respect of interest on home loan can be claimed only when...
Here are the TDS compliances you will need to adhere to while buying or selling a house property.
A taxpayer must know all the due dates for filing tax returns. Read on to find more.
The employer issues Form 16 only after the annual returns of TDS have been filed with the income tax department. A deduction of Rs. 5,000 is available for...
Amid a clutch of developments this week along with India’s G20 presidency starting December 2022, there seems to be some progress towards global regulations...
Following are some of the developments in the crypto space over the past few days
The communication to the airline pilots came on the day it sent 80 of its cockpit crew on Leave Without Pay for three months and aviation regulator DGCA...
Letting out your house or apartment to a non-resident Indian is not that complicated provided you know the provisions of the law and file your income tax...
You can make premature withdrawals from your employees’ provident fund account only under certain specific conditions. Here’s when and how to go about it
Counselling income received by a medical practitioner falls under the head ‘profits and gains of business or profession’, and accordingly they will need to...
An appropriate late fee will be applied if you have missed the deadline of July 31, 2022, for filing an income tax return (ITR) but file by the last date of...
The case was recently highlighted by a salaried individual who was asked to pay GST on his home rent. But what does the law say? Here’s what experts decode.
If you are unlikely to have any tax liability, you can submit For 15 G to the company paying you dividend income to avoid tax deduction at source. Gift...
The price of bitcoin rose by 7.16 per cent, while the price of Ethereum was up by 2.92 in the last 24 hours
Major crypto exchanges such as WazirX, ZebPay, and CoinDCX see trading volumes in red.
Here are five significant financial and operational changes that will go into effect from July 1.
The Central Board of Direct Taxes (CBDT) has come up with some detailed clarifications with examples regarding crypto transactions both via peer-to-peer...
