Understand the differences in residential status under the Income Tax Act and FEMA for Indians working abroad. Know tax implications and account status changes.
Explore the implications of the New Income Tax Bill 2025, including changes to deductions and losses under Section 58(4), aimed at simplifying tax computation while raising concerns over consistency with existing provisions.
This article wishes to bring to the notice of the concerned authorities a major inconsistency that exist between the provisions of section 44 AB and the Audit Report Utility available in the Income Tax E filing website.
Equity investors had a long tax holiday as the capital gains were not taxed and were exempt under section 10(38) until assessment year 2018-19. But Capital Gains on sale of equity shares in a listed company or unit of an equity oriented mutual fund (hereafter both are referred to as shares in this article) held […]
