Gift Deed and Income Tax Gift Deed and Income Tax A gift deed is a legal document used to transfer ownership of property or money from one person (donor) to another (donee) without any monetary consideration. While gifting property or other assets may seem straightforward, there are legal and tax implications you need to be … Read more
Understanding Section 271H of the Income Tax Act Understanding Section 271H of the Income Tax Act When it comes to filing Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) returns, the Indian Income Tax Act lays out stringent compliance rules. Failing to meet the deadlines or making errors in submission can result … Read more
Understanding the Consequences of Delayed E Verification and Tax Demands Understanding the Consequences of Delayed E Verification and Tax Demands Income Tax Return (ITR) filing is a crucial process for every taxpayer in India, but it’s only considered complete when the e-verification step is successfully done. If you’ve filed your ITR but haven’t verified it … Read more
Maximizing Tax Savings with Capital Losses Maximizing Tax Savings with Capital Losses Capital losses are an inevitable part of investing. Whether you’ve invested in stocks, mutual funds, property, or other capital assets, sometimes the value of these investments falls, leading to a loss. While capital losses can be disheartening, they can also be an opportunity … Read more
How to File a Non Taxable Return How to File a Non Taxable Return Filing income tax returns can be a complicated task, especially when your business turnover is in crores but your actual income is lower. This is where the presumptive taxation scheme under Section 44AD of the Income Tax Act comes to your … Read more
