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 »
Introduction India’s tax landscape is complex, and understanding the nuances of high-value cash transactions and income tax notices is crucial for individuals and businesses alike. In this guide, we’ll delve into the definition and implications of high-value cash transactions, reporting requirements, scrutiny by the Income Tax Department, and how to navigate income tax notices effectively.
Don’t Get Caught Off Guard! High-Value Cash Transactions & Tax Notices in India Read More »
Introduction: The rise of online gaming in India has been meteoric, offering not just entertainment but also opportunities to win real money. Online gaming has become a popular and booming industry in India. Whether playing games on a PC, gaming console, or mobile phone, online gaming offers a chance to have fun and win real
Demystifying the Taxation of Online Gaming in India Read More »
One of the main reasons for carrying forward losses in income tax returns is to provide businesses and individuals with a way to recover from financial setbacks and maintain continuity in their operations. By allowing losses to be carried forward, the tax system acknowledges that businesses and individuals may face temporary difficulties that could affect
Understanding the Rules and Benefits of Carrying Forward Losses in Income Tax Returns Read More »
Advance tax payment is an important aspect of the income tax system that individuals and businesses need to be aware of. By paying the tax in installments throughout the year, taxpayers can avoid the burden of a large tax payment at the end of the financial year. This system also helps the government in managing
Understanding Advance Tax Payment and the Need to File ITR Read More »
