Ashish

Understanding Hindu Undivided Family (HUF) and Its Tax Benefits What is an HUF? A Hindu Undivided Family (HUF) is a distinct legal entity recognized under Indian tax law. It consists of all members of a Hindu family, including those by marriage (e.g., daughter-in-law and mother). HUFs are treated separately for tax purposes, providing unique advantages

Section 112A: Long-Term Capital Gains on Listed Shares and Equity-Oriented Funds Long-term capital gains (LTCG) arise when a long-term capital asset is transferred. The taxation of LTCG under the Income Tax Act, 1961, is categorized into two key provisions: Section 112 and Section 112A. Section 112A specifically addresses the taxation of LTCG on listed shares,

TDS Changes Effective from 1st October 2024: A Detailed Overview The Income Tax Department has introduced significant changes to the Tax Deducted at Source (TDS) framework, effective from 1st October 2024. These modifications, primarily focusing on reducing TDS rates across several key sections, are intended to reduce compliance burdens and ease cash flows for individuals

The 54th GST Council Meeting, chaired by Union Finance Minister Nirmala Sitharaman on 9th September 2024, brought forward significant reforms aimed at simplifying GST compliance, offering sector-specific relief, and addressing ambiguities in existing regulations. These decisions are expected to impact various sectors, such as insurance, healthcare, transport, and R&D, while also setting the stage for