Income Tax : The case highlights how expanded benami provisions expose informal family arrangements to confiscation and penalties. Courts stres...
Income Tax : Tax-loss harvesting helps investors offset losses against gains to reduce tax liability. The key takeaway is that strategic timing...
Income Tax : Many tax-saving investments carry hidden costs like STT, expense ratios, and exit loads. The analysis highlights that these charge...
Income Tax : The Supreme Court clarified that tax planning is valid only when backed by real commercial substance. It held that artificial stru...
Income Tax : Tax loss harvesting allows investors to sell loss-making shares to offset capital gains and reduce tax liability. This strategy he...
Income Tax : Trusts and institutions carrying out charitable activities will face more stringent taxation regime when the new direct taxes code...
Finance : Money managers, who have historically used dividends as a ploy to lure investors to tax-saving stock funds, are shying away from p...
Income Tax : Bhoruka Steel Limited (BSL) was incorporated in the year 1969. The company became a sick industrial company within the meaning of...
Income Tax : Wallfort Shares & Stock Brokers, a Five Member Special Bench of the Tribunal (96 ITD 1 (Mum) (SB)) and the Bombay High Court (310 ...
This question come in the minds of many how to save tax when we sale or transfer residential house property and then invest those amount to buy any other asset. Income tax provides tax exemptions to individual or HUF who sold his old house and from the sale proceeds he purchased another house. Under Section […]
♦ Tax Avoidance is one of the most important method resorted to by the taxpayers as here they try to look after the loopholes present or existing in the tax law may be in the form of lack of proper jurisdiction to hear case or in the form of lack of proper stringent and vigil […]
If you want to sell your house property there are certain income tax implications that will help you to save your tax and help to build a better decision about selling your house. 1. If a property is sold within three years of buying it, any profit from the transaction is treated as a short-term […]
Common tax-saving mistakes: ♦ Not exhausting all the tax-saving avenues: -There are various investment schemes notified under section 80C along with certain expenses, do cover all in your checklist. -Apart from 80C, one must look at section 80CCC (included under the section 80C limit) and section 80D allows medical insurance premium installments. ♦ Section 80C […]
Effective income tax savings tips to help in tax planning. Learn how to efficiently reduce tax outgo and make informed decisions between the old and new tax regimes.
Who doesn’t want to save tax? So, in this article we are discussing about how a salaried Individual can save tax through tax planning. Salaried Individuals have comparatively limited options available when it comes to saving tax. Nevertheless, if we utilize what we have efficiently, a significant amount of tax saving can be achieved. Tax […]
Tax Incentive to Business / Service sector/ Industry on salary of new employees On Salary of Rs. 100/- avail tax benefit on Rs. 190/- :- Any business / service sector/ manufacturing industry can claim additional deduction of 30% of salary paid to additional employees, subject to fulfilment of certain conditions. This deduction of 30% of […]
Paying tax is an important responsibility of an individual towards a nation, however, at the same time, with financial planning you can save your taxes while fulfilling your responsibility by using the tax saving schemes given by the government. Tax planning is an integral part of a financial plan that helps in the reduction of […]
Sure, it’s an investor’s duty to pay their taxes in full and in a timely manner, but they also have an option to save on tax. Nobody likes the extra influx of cash from their pockets. The government encourages individuals to invest in tax-saving investments by offering them tax benefits in form of tax deductions […]
As we are approaching end of the financial year, there are certain tasks which we need to complete by 31st March 2021. Some of such task includes Submitting the details of salaries received from earlier employer, Submit the proof of expenses to your employer, Verifying quantum of deductions available from your bank records, Payment of […]
