Section 54F and Capital Gains: Budget 2025’s Hidden Changes for Property Investors
Introduction: Understanding Capital Gains Tax on Property Investments Capital gains tax can significantly impact your property investment returns, especially when selling long-term assets. Capital gains are profits earned from selling a property at a price higher than its purchase cost. These gains are classified into two categories: Short-term capital gains: Properties held for 24...
What Is Form 15H and Why It Matters for Smart Investors in India?
A comprehensive strategy guide for investors to maximize investment returns through smart TDS management. Introduction: Why Form 15H Matters for Investors As an investor, every percentage point of return matters. While you focus on portfolio diversification and asset allocation, one often-overlooked area can significantly impact your net returns: Tax Deducted at Source (TDS) on your...
ESOP Taxation in India: All You Need to Know
Have you ever wondered what those three letters—ESOP—mean? They’re more than just a corporate buzzword. ESOP stands for Employee Stock Ownership Plan, a brilliant way for companies to reward their employees by giving them a slice of the business they’re building together. Sounds exciting, right? But here’s the catch: while ESOPs are a fantastic opportunity, they come with...
How to File ITR 2 online FY 2022-23?
The Income Tax Department has issued 7 different types of ITR forms to categorise taxpayers based on their source of income, residential status, and a few other factors. Let us understand the eligibility of filing ITR 2 and how to file it online. Who can file ITR 2? The ITR 2 is a form that can be filed by individuals and HUFs who are Residents (ROR/RNOR) or non-residents earning income...
What are ITR Notices And How To Reply
The more awareness, the lesser the confusion, and the better the situation. As per a study, there has been a significant reduction in the quantity of ITR notices. While the specific number of such cases is not mentioned, experts believe that enhanced data collection and thorough investigation are the two main factors contributing significantly to this positive development. The...
Income Tax Refund: How to check and claim Income Tax Refund
As per Section 237 of the Income Tax Act, of 1961, taxpayers can claim a refund on their ITR for any extra tax paid. However, many people are unaware of their eligibility to claim a refund. So, let’s find out what exactly is an ITR refund, how to check if you can claim it, and how to claim it. What is an Income Tax Refund? Have you ever encountered a situation where you’ve paid...
Common Mistakes to Avoid while filing ITR
As the ITR filing due date is almost nearing, many taxpayers are hurrying to file their ITRs. While it is crucial to get your ITR filed before 31st July 2023, it is also essential to ensure you don’t rush into it. Usually, individual taxpayers prefer handling their tax filing on their own. So, complications in understanding the tax laws and the last-minute filing pressure can cause taxpayers...
NPS Tax Benefits As Per The New Tax Regime And Old Tax Regime
Following the Budget 2023, there has been some confusion regarding the tax benefits of the National Pension System (NPS) under both the new tax regime and the old tax regime. This is largely due to the government’s emphasis on promoting the new tax regime over the old one. To clear up this confusion, let’s take a closer look at the NPS tax benefits in both regimes. Everyone...
How can NRIs avoid double taxation in India?
You work hard to earn money and take every possible step to save for the future. After all the efforts, you probably do not wish to lose a substantial part of your income to taxes. Even though taxes are necessary for the economy, they often come across as a burden, especially for people who are imposed with a heavy tax liability. Now imagine if you had to pay these taxes, twice...