Any income from sale of property(movable or immovable) is know as Capital gains. Now a days many people trade in equity market However, trading in shares may lead to both high losses or profit. Th gains from transfer shares is liable for income tax, and the losses can be carried forward to future years. In […]
Income Tax
Future & Options Taxability And Accounting
Now a day’s many persons trade in equity and F&O market. Futures and Options (F&O) are derivative instruments traded on stock exchanges. They are hedging instruments and required specials training for trade. In this article we will discuss future & options taxability and accounting. The taxation of F&O transactions in India falls under business income. […]
TDS Rates for Financial Year 2024-25: A Guide
Tax Deducted at Source (TDS) is a crucial mechanism under the Indian Income Tax Act, ensuring tax collection at the source of income generation. The government regularly updates TDS rates to align with economic policies and revenue needs. This article provides a detailed overview of the TDS rate chart for the Financial Year (FY) 2024-25, […]
TDS On Property Purchase
Tax Deducted at Source (TDS) on property transactions is an important aspect of real estate dealings in India. It ensures tax compliance and helps the government track high-value property purchases. This article explains TDS on Property Purchase, its concept, applicability, rates, and process of TDS on property transactions. Understanding the intricacies of TDS on property […]
Updated Income Tax Return (ITR-U)
The Updated Income Tax Return (ITR-U) is a provision introduced by the Indian government to allow taxpayers to rectify errors or omissions in their previously filed Income Tax Returns (ITRs). This initiative aims to enhance tax compliance by providing an opportunity for individuals and businesses to voluntarily disclose any undisclosed income or correct inaccuracies without […]