Any profits or gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 54, 54B, 54D, 54E, 54EA, 54EB, 54F, 54G and 54H be chargeable to income-tax under the head "Capital gains"
Cash transactions have long been a subject of scrutiny by the Indian Income Tax Department due to their potential for tax evasion and unaccounted money circulation. It is important for taxpayers to know these limits in order to make sure their expenditure does not get disallowed under the Income Tax Act
The Indian gaming market saw a significant surge, reaching $2.6 billion in FY22, and is anticipated to escalate to $8.6 billion by FY27
Let's look at the basics of what you should know about reporting any online casino or other gambling winnings on your annual taxes.
Analyzing The Liberal Nature of Buyback Provisions Under Section 115QA And Section 10(34A): Budget 2024's Response To Curb Potential Misuse And Tax Arbitrage
Here's a point-to-point summary of the article about cases where no income tax rebate under Section 87A is allowed, even if the total income is below Rs 7 lakh
The goal of the DTC is to create a tax system that is easier to understand, more equitable, and capable of generating revenue efficiently without causing undue hardship to taxpayers.
The last date to file the Tax Audit Report is 30th September of the assessment year. It is crucial to adhere to the deadlines to avoid any penalties
The Central Board of Direct Taxes (CBDT) has introduced a new e-DRS (Electronic Dispute Resolution Scheme) to streamline the process of resolving income tax disputes.
As a business owner, staying compliant with various statutory requirements is essential for smooth operations and to avoid penalties. For the month of September 2024, there are several key due dates that you should be aware of.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
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