The proceeds derived from the sale of agricultural land in India generally benefit from tax exemptions. Nevertheless, specific conditions govern these exemptions, taking into account factors such as the land’s location, current usage, ownership … READ FULL STORY
The introduction of Section 234F of the Income Tax Act (ITA) on April 1, 2018, marked a significant shift in the taxation landscape, emphasising the importance of timely tax filing. This section underscores the … READ FULL STORY
A Digital Signature Certificate (DSC) is a digital alternative to traditional signatures and ensures data safety. Moreover, DSC has a key role in income tax filing. For those who incur huge expenses, such as … READ FULL STORY
Section 139(9) of the Income Tax Act, 1961, plays a crucial role in ensuring the accuracy and completeness of the information provided by taxpayers in their income tax returns. This section empowers the Income … READ FULL STORY
The income tax laws tax all your incomes under various heads. Any income with respect to a house property owned by you, is taxed under the head ‘income from house property’, whether the property … READ FULL STORY
Exempted income refers to the amount a person earns in a financial year and is non-taxable. According to the Income-Tax Act (I-T Act), certain income sources, if adhere to the rules mentioned in the … READ FULL STORY
One of the common issues faced by most of the people living abroad is double taxation. In case of dual income, people have to pay taxes in the country they reside and native country, … READ FULL STORY
Professional tax, a significant component of India’s taxation system, plays a crucial role in the financial landscape of the country. This levy, imposed by state governments, is designed to collect revenue that supports local … READ FULL STORY
The value of a car decreases over time due to age, wear and tear, and other factors. However, the rate at which the value of a car depreciates can vary significantly, depending on factors … READ FULL STORY
Under the Indian tax law, the profit earned through sale of a property is considered an income. On this income, the seller must pay taxes. However, sellers can lower their tax liability by claiming … READ FULL STORY
To calculate the depreciation of an asset, experts turn to two methods of valuation – the Straight Line Method (SLM) and the Written Down Value (WDV) method. Of these, the written down value method … READ FULL STORY
Income tax e-filing login is key to filing income tax in India. This guide will explain how to use income tax return login to pay income tax. Details needed for ITR login registration Valid … READ FULL STORY
Under the Indian income tax (IT) laws, a property owner is liable to pay taxes to the government on its sale, based on the holding period and profit earned (known as capital gains). The … READ FULL STORY
