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 »
Introduction: For salaried employees, tax-saving strategies are essential to optimize financial planning and maximize take-home pay. In the old tax regime, several avenues exist for tax savings, enabling individuals to reduce their taxable income and retain more of their hard-earned money. I. Understanding the Old Tax Regime: In the old tax regime, taxpayers have access
Tax Saving Strategies for Salaried Employees in the Old Regime Read More »
Introduction House Rent Allowance (HRA) serves as a significant component of compensation for many salaried individuals in India. Understanding how to leverage HRA effectively can lead to substantial tax savings. In this blog, we’ll delve into the intricacies of HRA exemption, its calculation, relevant income tax sections, and address common queries through FAQs. What is
Understanding House Rent Allowance (HRA) and its Tax Exemption Read More »
