This article explains capital gains, focusing on long-term and short-term capital gains tax implications in India for real estate and immovable properties.
TDS on rental income in India is a crucial aspect of the Income Tax Act of 1961. Both landlords and tenants, including NRIs renting residential properties, need to understand TDS implications to ensure legal compliance and accurate tax handling.
Learn how to minimize or eliminate capital gains tax when selling property. This guide covers LTCG, STCG, and exemptions under Sections 54, 54EC, and 54F, helping you maximize your returns.
This humorous piece explores the various taxes levied on businesses and individuals, from income and sales tax to entertainment and even potential funeral taxes, offering a comical take on the complexities of the tax system.
New ITR forms are mandatory per Supreme Court order. Re-file by February 29, 2008, if you used old forms. New forms simplify filing and improve data management.
PAN card is now mandatory for various financial transactions, including opening bank accounts, property dealings, foreign travel, and securities transactions. Holding multiple PAN cards is illegal and carries a penalty. While PAN is essential, filing returns is only required for taxable income.