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
Understanding Tax Audit Limits under Section 44AD Understanding Tax Audit Limits under Section 44AD and 44ADA of the Income Tax Act For small businesses and professionals in India, taxation can often feel like a maze of rules and regulations. Two important provisions under the Income Tax Act—Section 44AD and Section 44ADA—offer relief by simplifying tax … Read more
Understanding the New Direct Tax Code Understanding the New Direct Tax Code The Indian government’s efforts to reform the tax system have led to the introduction of the New Direct Tax Code (DTC), aiming to simplify the tax structure and make it more equitable. One of the key features of this new code is its … Read more
11 Special Cases Where Filing Income Tax Returns is Mandatory 11 Special Cases Where Filing Income Tax Returns is Mandatory Filing income tax returns (ITR) is a responsibility that every eligible taxpayer must fulfill. While many people are aware of the basic criteria for filing ITR, certain special cases often go unnoticed. These situations mandate … Read more
