F and O: Taxation for Futures & Options Traders FY 2024-25
F and O – Futures and Options is a non speculative business which are types of financial derivatives used in […]
Updated Return vs Revised Return: What’s the Difference?
Filing income tax returns is a crucial responsibility for every taxpayer. However, it’s not uncommon to realize errors or omissions
Set Off And Carry Forward Of Losses
Set off and Carry forward of losses refer to adjusting losses incurred under one head of income or in one
Capital Gain On Sale Of Property: From Sale to Tax
Selling property in India involves tax implications under the Income Tax Act, 1961. Understanding the nuances of capital gains taxation
Leave Encashment Calculation: Formulas and Examples
Leave encashment refers to the payment an employee receives in lieu of unutilized earned leave. This lump sum payment is
Differences Between Exemption and Deduction in Income Tax
Exemptions refer to specific income components excluded from taxation. For example, the House Rent Allowance (HRA) and Leave Travel Allowance
GST on Hotel Dining: New 18% Rate May Spike Your Food Bill
From April 1, 2025 restaurants inside hotels will have to charge 18% GST from customers instead of 5% previously if
GST for Freelancers and Independent Professionals
The implementation of the Goods and Services Tax (GST) in India has significantly changed the way businesses operate, and freelancers
Standard Deduction on Salary: Latest Updates for FY 2024-25
Union Finance Minister Smt Nirmala Sitharaman on July 23rd, 2024 under new tax regime, hiked the standard deduction to Rs.
UPI Transaction Limit 2025: How Much Can You Transfer?
Use Interface Payments (UPI) is the most famous method of payment in the new digital India. The volume of transactions