Section 148A of Income Tax Act – Complete Guide to Section 148A
Section 148A of Income Tax Act – Complete Guide to Section 148A Section 148A of the Income Tax Act was introduced in Budget 2021 and brought major changes to the…
What is a Hindu Undivided Family (HUF)? Features & Tax Benefits
What is a Hindu Undivided Family (HUF)? Features & Tax Benefits HUF stands for Hindu Undivided Family. It is treated as a separate legal entity under the Income Tax Act…
Tax on Intraday Trading in India: Gains, Losses & ITR Rules
Tax on Intraday Trading in India: Gains, Losses & ITR Rules Understanding the tax treatment of intraday trading is important for every trader involved in buying and selling shares within…
What Happens if You Don’t File Your Income Tax Return (ITR)
What Happens if You Don’t File Your Income Tax Return (ITR)? Filing your Income Tax Return (ITR) within the due date is mandatory for eligible taxpayers. Failure to file your…
NRO Account Taxation in India: Interest, TDS & ITR Filing Rules
NRO Account Taxation in India: Interest, TDS & ITR Filing Rules Non-Resident Indians (NRIs) can continue to maintain bank accounts in India even after moving abroad. Among the available options,…
Short-Term Capital Gains Tax on Property – Rates, Calculation and Exemptions
Capital gain refers to the profit earned from transferring a capital asset. Capital assets include both movable and immovable properties such as land, buildings, and residential houses. Any profit arising…
NRE and NRO Account: Meaning, Difference and Taxation
Under the Foreign Exchange Management Act (FEMA), Non-Resident Indians (NRIs) are not permitted to continue operating a regular savings account in India after becoming non-residents. They must convert their existing…
Foreign Liabilities and Assets (FLA) Annual Return
The Foreign Liabilities and Assets (FLA) Annual Return is a mandatory compliance requirement for companies, LLPs, and specified entities that have received foreign investment in India or made investments outside…
Taxation of YouTubers and Social Media Influencers
Taxation of YouTubers and Social Media Influencers With the rapid growth of social media and digital marketing, influencers have become a key part of the online ecosystem. From brand promotions…
Section 69: Tax on Unexplained Investments
Section 69: Tax on Unexplained Investments Section 69 of the Income Tax Act applies to investments made by an assessee where the source of funds cannot be satisfactorily explained to…
Tax Treatment of Employee Stock Purchase Plans (ESPPs)
Tax Treatment of Employee Stock Purchase Plans (ESPPs) Interested in Employee Stock Purchase Plans (ESPPs)? These schemes allow employees to build wealth while aligning their interests with the company’s growth.…
ESIC Registration: Process, Benefits & Required Documents
ESIC Registration: Process, Benefits & Required Documents ESIC is a government-established statutory body functioning under the Ministry of Labour and Employment, Government of India. The ESI scheme provides social security…
Capital Gains Tax for NRIs in India: Complete Guide
Capital Gains Tax for NRIs in India: Complete Guide Non-Resident Indians (NRIs) have to pay tax in India only on the income they earn from Indian sources. This can include…
Unified Form 141 for PAN-Based TDS Payments
Unified Form 141 for PAN-Based TDS Payments In a significant move to simplify tax compliance, the Income Tax Department has introduced a unified system for PAN-based TDS payments through Form…