What’s New

A Comprehensive Guide to LTCG and STCG for FY 2024-25

Understanding capital gains tax is crucial for investors and taxpayers. The Union Budget 2024 introduced significant changes to the taxation of capital gains, affecting both short-term and long-term investments. This guide will walk you through the key aspects of LTCG and STCG for FY 2024-25…

09/02/2025


 
A Comprehensive Guide to Budget 2024

Our F.M presented the budget speech in parliament on 23rd July 2024 and has announced significant relaxations in the income tax slabs under the new tax regime for FY 2024-25.

New Tax Regime

What deductions and exemptions are allowed under the new tax regime?…

03/02/2025 

NRI Update: Crucial PAN-Aadhaar Linking Guidelines

The following categories of individuals are exempt from linking their PAN with Aadhaar by 30th June 2023:
– Individuals residing in the states of Jammu and Kashmir, Assam, and Meghalaya.
– Non-resident taxable persons as per the Income-tax Act, 1961.
– Super Senior Citizens (individuals aged more than 80 years).
– Persons who are not citizens of India.

22/01/2025

A Comprehensive Guide to Interim Budget 2024

The Hon’ble Finance Minister Shrimati Nirmala Sitharaman presented the budget speech in parliament on 1st Feb 2024. As this an interim budget, there are no major changes in taxation. While the major updations may hold off until after the 2024 general elections, the upcoming union budget presents an opportunity to address lingering concerns and set the stage for future economic growth.

10/02/2024

Consequences of Inoperative account – Dated 25/01/2024What Annual Information Statement (AIS) means for taxpayers?

The exempt category people need not link PAN-Aadhaar within 30th June 2023. The exempt category is as follows:

28/01/2024

Income Tax Slabs for FY 2023-24 (New & Old Regimes)

The old income tax scheme is also known as the existing tax regime. It is a tax structure that has been in existence for many years. Under this scheme, the tax rates are based on the income earned by an individual. The tax rates are as follows:

11/12/2023

Foreign Remittances, Sale of Overseas Tour Packages to Attract 20% TCSSection 44AD (Presumptive Taxation) – Whom to Opt

The Union Budget 2023 proposes a Tax Collection at Source (TCS) for foreign outward remittance under LRS (other than for Education and medical purpose) of 20% applicable from July 1, 2023.

12/03/2023

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