Old Tax Regime if Your Company Opted for the New Tax Regime Understanding the Old and New Tax Regimes Old Tax Regime if Your Company Opted for the New Tax Regime Taxpayers often face confusion when selecting the most suitable income tax regime. With the introduction of the New Tax Regime as the default option … Read more
ITR-U Filing Alert ITR-U Filing Alert The Income Tax Department has issued a warning to taxpayers regarding claims under Section 80GGC for donations to political parties. Many taxpayers, including salaried individuals, have received SMS alerts advising them to verify their claims and file an Updated ITR (ITR-U) by March 31, 2025, if any discrepancies exist. … Read more
Loan Be Claimed Against Dividend Income Loan Be Claimed Against Dividend Income Investors often borrow funds to invest in stocks, mutual funds, or other securities to earn dividends or capital gains. A common question that arises is whether the interest paid on such loans can be claimed as a deduction against dividend income under the … Read more
Transactions Under Income Tax Surveillance Transactions Under Income Tax Surveillance The Income Tax Department in India has ramped up its efforts to monitor certain transactions that could indicate undisclosed income or tax evasion. With advancements in technology and integration with various financial institutions, the department has increased its scrutiny on high-value and suspicious transactions. This … Read more
Transactions Are Checked During Income Tax Scrutiny Transactions Are Checked During Income Tax Scrutiny When it comes to income tax compliance, taxpayers often wonder which transactions might catch the attention of tax authorities. The Income Tax Department continuously monitors various financial transactions to ensure taxpayers declare their income accurately and pay the appropriate taxes. Here’s … Read more
