300 words Crisp articles on various topics related to Finance
Section 87A rebate in India is a tax benefit designed to reduce the tax burden for individuals with modest incomes. This rebate is a boon for salaried and small-income earners. How does it work, and who qualifies? Let’s break it down. What Is Section 87A Rebate? Section 87A rebate in India provides taxpayers a direct …
#315 – Section 87A Rebate: Maximize Your Tax Savings Read More »
TDS on interest income in India is a mechanism to collect tax at source on interest earned from bank deposits, bonds, or other investments. Understanding TDS rules is crucial for taxpayers. How does it work, and what are the implications? Let’s break it down. What Is TDS on Interest Income? Tax Deducted at Source (TDS) …
What are perquisites and how are they taxed in India? Perquisites, or “perks,” are benefits provided by employers to employees beyond salary, such as housing or car facilities. With India’s workforce growing—formal employment up 6% in 202, understanding perquisite taxation is key for salaried individuals. Let’s break it down. Defining Perquisites: In India, perquisites (often …
What are fractional shares in India, and why are they generating buzz? With 34.5 million demat accounts opened in FY22, per Stockal, and mutual fund AUM at ₹59.31 lakh crore in September 2024, per AMFI, retail investing is booming. Fractional shares could democratize access to high-priced stocks like MRF (₹1.25 lakh), but they’re not yet …
Section 54F of Income Tax Act in India offers tax relief on long-term capital gains from selling non-residential assets by reinvesting proceeds into residential property. With real estate transactions rising—housing sales up 15% in 2024, per IBEF, this exemption is a key tax-saving tool. How does it work, and who qualifies? Let’s break it down. …
Clubbing of income under Section 64 of Income Tax Act in India prevents tax evasion by attributing income earned by certain family members or entities to the taxpayer. Understanding these rules is crucial for compliance. What does Section 64 entail, and how does it impact you? Let’s break it down. What Is Clubbing of Income? …
Life insurance policy taxation in India offers significant tax benefits, making insurance a vital financial tool for protection and savings. However, recent tax changes have altered the landscape. How are life insurance policies taxed, and what should you know? Let’s break it down. Tax Deductions Under Section 80C: Section 80C of the Income Tax Act …
Section 54B capital gain on sale of agricultural land in India offers tax relief for farmers and individuals selling agricultural land by reinvesting proceeds into new agricultural land. With rising land transactions—rural land prices up 10% in 2024, per IBEF—this exemption is vital. How does Section 54B work? Let’s break it down. What Is Section …
#305 – Section 54B: Capital Gain on Sale of Agricultural Land Read More »
Tax loss harvesting in India is a strategic approach to minimize tax liability by selling investments at a loss to offset capital gains. This tactic is gaining traction. How does it work, and can it boost your returns? Let’s break it down. What Is Tax Loss Harvesting? Tax loss harvesting in India is the practice …
#304 – Tax Loss Harvesting: Optimize Your Investments Read More »
The types of registration under GST cater to diverse business needs, thus ensuring compliance with the GST regime. With GST collections reaching ₹2.10 lakh crore in April 2024, understanding these registrations is crucial for businesses. Let’s see some of the types in detail. Regular Registration: This applies to businesses whose aggregate turnover exceeds the prescribed …