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
Income Tax Department to Take Action Against Fraudulent Refund Claims Income Tax Department to Take Action Against Fraudulent Refund Claims Filing Income Tax Returns (ITRs) accurately and transparently is a cornerstone of financial compliance. However, many taxpayers unknowingly jeopardize their financial well-being by engaging in fraudulent refund practices, often facilitated by non-professional agents. The Income … Read more
Income tax on cash spending Income tax on cash spending The Indian Income Tax Department has implemented stringent rules to regulate cash transactions and promote a digital economy. These measures aim to curb tax evasion, increase transparency, and ensure compliance with income tax laws. Income tax on cash spending Excessive use of cash can lead … Read more
