All about cost inflation index FY 2023-24 (AY 2024-25)
All about cost inflation index FY 2023-24 (AY 2024-25)
Cost inflation index for the financial year 2023-24 is 348.
All about tax benefits of Mediclaim premium, health expenses, and Life insurance premium
You can receive two benefits for the price of one if you have health insurance. They provide you with the much-needed financial security you require in the form of a…
All About the Equalisation levy
All About the Equalisation levy
The Indian IT sector has grown dramatically in the last decade or so because of the global increase in IT usage. Equalisation Levy is nothing but Taxing Cross-Border E-commerce transactions.…
Indian payroll taxes and statutory compliances
Indian payroll taxes and statutory compliances
In this manual, you'll discover the fundamentals of Indian payroll taxes and statutory compliances, including why it's important, how to execute it, what a good payroll process looks like, and…
Withholding tax rates as per DTAA
Withholding tax rates as per DTAA
The Double Taxation Avoidance Agreement assists NRIs who work abroad in avoiding paying double taxes on income received in both their home country and India. India has this arrangement with…
K M GATECHA & CO LLP
All about taxation of expatriate employees in India
The Income Tax Act of 1961 does not define the term "Expatriate Tax." However, in general, an expatriate is someone who lives outside of his country of origin or in…
K M GATECHA & CO LLP-CA in Ahmedabad
New and old Income Tax Slabs FY 2021-22 (AY 2022-23)
Every year, the finance minister announces income tax slabs in India. There are currently two different Income Tax regimes. Tax breaks are no longer available under the new regime. Tax…
All about FSSAI annual return
All about FSSAI Annual Return
The Food Safety and Standards Act, 2006 was implemented by the Government of India in order to regulate and prevent the food industry. The Food Safety and Standard Act of…
Capital gain tax on sale of under-construction property in India
Capital gain tax on sale of under-construction property in India
It is true that owning a property in a construction project has more benefits than purchasing a ready-to-move-in property. In this article, you will learn about the numerous rules relating…
Form 10IE- New Tax Regime, Taxability, Time-Limit
Form 10IE- New Tax Regime, Taxability, Time-Limit
On February 1, 2020, Finance Minister Nirmala Sitharaman presented the Annual Budget 2020. The new tax regime was first implemented in the preceding budget. In this article, you will learn…
K M GATECHA & CO LLP-CA in ahmedabad
TAX ON SALE OF PROPERTY RECEIVED AS GIFT
Definitive Tax on Sale of Gifted Property in India: Latest Capital Gains Rules, Exemptions and ExamplesThe tax on sale of gifted property is one of the most misunderstood areas in…
Income tax implications for NRI selling property in India
Income Tax Implications for NRI Selling Property in India (Updated Easy Guide)Non-Resident Indians selling property in India face mandatory tax deduction, complex capital gains computation, surcharge exposure, and foreign remittance…
Tax benefits on purchase of electric vehicle in India
Tax benefits on purchase of Electric Vehicle in India
Introduction: Over the past decades, the growing concern over climate change, energy independence, and securities of energy supply have accelerated the path to the decarbonization of the transport sector. this…
Residential Status as per Income Tax Act, 1961
Residential Status as per Income Tax Act, 1961
Taxation of individuals in India is primarily based on their residential status in the relevant tax year. The taxability of an individual in India depends upon his residential status in…