Income Tax Articles
Taxation of Immovable Property Sales by Non-Residents in India
Understanding the details of selling immovable property as a non-resident is crucial when it comes to taxes. Immovable property, commonly known as real estate, includes land, buildings, and permanent fixtures attached to the land. For non-residents looking to sell such assets in India, understanding the tax implications is vital.
Section 194K: TDS on Mutual Fund Income
FM Nirmala Sitharaman proposed the addition of Section 194K in the Union Budget 2020. This section includes a tax deduction on the amount paid on the units of mutual funds.
Who is our "Sankatmochan" during Financial "Sankat"?
We'll be celebrating Hanuman Jayanti, honoring Lord Hanuman, known as Sankatmochan, the one who removes troubles. With his incredible strength and devotion, he has always been a symbol of hope during difficult times. Today, in our lives, especially when we face money problems, who acts as our Sankatmochan?
Intimation u/s 143(1) of the IT Act
Intimation under Section 143(1) is a notification which is sent from the IT Department after processing a taxpayer's income tax return. Usually, it informs the taxpayer about any discrepancies between their filed return and the department's computation.
Tax Rules for NRIs Working Remotely from India
In this article, we'll explore these tax rules for NRIs who work remotely from India for foreign companies. We'll look at what NRIs need to think about and what it all means.
Filing ITR is Mandatory despite Income below Exemption Limit
According to the Income Tax Act of India, individuals are mandated to file an Income Tax Return (ITR) only if their annual income surpasses the basic exemption limit.
Capital Gain Tax on Shares: Calculation of Income Earned For FY 23-24
As we all know nowadays Stock trading & investments are increasing rapidly & it is important to know about the taxability of these transactions.
Guide to Buyback of Shares in India under Companies Act & Tax Considerations
With the flourishing economic conditions in India and the government’s proactive measures to ensure that there is ease of doing business, various foreign institutional investors, foreign multinationals companies have been making investments in the country.
Did You Receive TDS SMS Alert From IT Department
Once a taxpayer receives SMS alert from the income tax department regarding TDS, taxpayers should verify the information provided in the SMS with their office salary slips or other relevant documents to ensure accuracy.
Debt Mutual Fund Taxation
Debt mutual funds are those investments that are primarily invested in fixed-income securities such as bonds, debentures, and other money market instruments. These funds focus on generating returns through interest income and capital appreciation from bond investments.
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