Introduction The concept of a Hindu Undivided Family (HUF) is an age-old tradition in India, rooted in Hindu law, and offers a unique opportunity for tax savings. This blog delves into the nuances of HUF, its formation, tax implications, advantages, disadvantages, and relevant laws. By the end, you’ll have a comprehensive understanding of how HUFs […]
Hindu Undivided Family (HUF): A Strategic Way to Save Income Tax Read More »
Introduction The Indian taxation landscape is continuously evolving to ensure equitable tax collection. One of the significant updates in Budget 2024 is the introduction of Section 194T, which brings a new dimension to the tax deduction at source (TDS) provisions by including payments made by partnership firms to their partners. This article explores Section 194T
New TDS Rules for Partners in Firms: Section 194T Explained! Read More »
Amendment to Provide Relief for Real Estate under LTCG Regime The Indian government has introduced an amendment to the Long-Term Capital Gains (LTCG) regime to provide relief for taxpayers concerning the taxation of immovable property. This amendment offers taxpayers the flexibility to choose between a lower rate of 12.5% without indexation or a higher rate
Big Tax Relief for Real Estate: Choose Your LTCG Rate! Read More »
Introduction: The Indian government’s Budget 2024 introduces a significant amendment in the Finance (No.2) Bill – 2024 with the proposal of Section 128A. This new section aims to provide relief to taxpayers involved in non-fraud cases under Section 73 of the CGST Act. The introduction of this amnesty scheme is a strategic move to ease
Major Tax Relief Alert: Understand the New Section 128A Amnesty Scheme in Budget 2024 Read More »
