Category: Taxation

It is almost impossible to avoid taxes these days. Most of us pay taxes directly or indirectly.  If you are an NRI with investments in India, any income generated from your investments is subject to taxation. You might also be earning income in the country you’re living and working in. This means that you can […]

In the recently launched budget for the year 2024-25, the central government of India has proposed to bring down the long term capital gains tax from 20% to 12.5%. However, this would accompany indexation benefits. The fresh tax rates are slated to become effective from July 23, 2024. For those who bought their homes before […]

If your refund has failed, you can submit “Refund Reissue Request” on the Income Tax Department’s e-filing portal as applicable. To raise your Refund Reissue Request, follow this step-by-step guide as prescribed by the Income Tax Department: Step 1: Login into the e-filing portal, then go to the services menu and then select the refund […]

In the successful economy of any country, the role of taxes is quite crucial. Whether you are a salaried individual or a businessman, you are governed by the applicable tax laws set by the government. The government does not only update these regulations from time to time, but it also makes provisions to help taxpayers […]

Hindu Undivided Family (HUF) is considered as a separate legal entity. Due to this, forming a HUF can be an effective tax-saving mechanism for your family. A HUF has its own PAN and files ITR separately from its members. Not only Hindu families, but also Jains, Sikhs and Buddhists can form HUFs. In this article, […]

The ITR filing deadline is a really important date which needs to be kept in mind by all the taxpayers of India. It is a legal obligation for all the taxpayers to file Income Tax Return (ITR) of their income earned up to 31st July of the Assessment Year (AY) relevant to the Fiscal Year […]

The Finance Minister Smt. Nirmala Sitharaman presents the Interim Union Budget 2024-25 on February 1st. The mantra behind the budget was ‘Sabka Saath, Sabka Vikas and Sabka Vishwas’ and ‘Sabka Prayas’.  In the budget 2024 speech, FM Nirmala Sitharaman highlighted the Centre’s various programmes for women, youth, poor and farmers. They are the four major […]

In recent times, the ecommerce sector in India has witnessed exponential growth as several online portals have come up in the country that provide a wide range of products to consumes all across the country. Considering the rapid growth of ecommerce domain, the government of India has introduced a special guideline and provision for ecommerce […]

After the launch of GST in India, the indirect taxes came under one tax. The businesses get the benefits of lower taxes. However, to obtain the benefits, businesses are required to obtain the GST registration. In this, they have to file the registration application to the GST authority.  With the application, the required documents should […]

In 2017, the Government of India decided to replace Value Added Tax (VAT) with Goods and Service Tax (GST). This major move aimed to reduce the limitations of VAT and achieve some specific economic goals. The main reason behind the introduction of GST was to eliminate the cascading effect of taxes, simplify tax regime, increase […]