Effective April 1, 2020, the Finance Act, 2019 added the Seventh Proviso to Section 139(1) of Income Tax (I-T) Act, 1961. Under this act, some certain individuals have to necessarily file the Income Tax … READ FULL STORY
Are you looking for ways to save taxes for the capital gains? Reinvestment of the capital gains from the sale of a property is one way. Alternatively, you can also invest in the capital … 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
Trading gains realised throughout the course of a single trading day are subject to taxation at the ordinary rate since they are considered speculative gains. The Income Tax Act of 1961 has a provision … READ FULL STORY
In India, every person within the tax bracket has to provide income details to the Income Tax (IT) department. These are submitted by way of filing IT returns. Once filed, the IT department verifies … READ FULL STORY
In the Finance Act of 2021, a new Section 194Q, TDS on Purchase of Goods, was added. This section became operative on July 1st, 2021. It applies to the buyer who is in charge … READ FULL STORY
