A Complete Guide To Income Tax Declaration
It is that time of the year when you’re supposed to share your investment declaration proofs with your employer. While there are sufficient ways to make tax-saving investments, you will need to declare it to your employer by submitting the required proofs or supporting documents to claim these deductions. But what proofs are required to be submitted? And what happens if you fail...
How To Save Tax On Sale Of Residential Property In India?
Selling a property is usually a high-ticket deal, and hence the tax outflow on its profit generated could be heavy. The Indian Government has provided property sellers with many tax exemptions that can help reduce tax liability and, in some cases, even eliminate one’s taxes to be paid on such capital gains. In this blog, we will discuss the ways in which a seller of residential...
Set-Off Of Capital Gains – FFC episode 42
You can set off your losses from property sale against long-term capital gains (LTCG) from shares. It is now perfectly legal to set off tax liability across asset classes. A tribunal has held that LTCG from one asset class could be set off against another and such tax planning are undertaken to reduce the tax burden is legal. To know about LTCG in shares and can how it be set...