Finance

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

Introduction The concept of a Hindu Undivided Family (HUF) is an age-old tradition in India, rooted in Hindu law, and offers a unique opportunity for tax savings. This blog delves into the nuances of HUF, its formation, tax implications, advantages, disadvantages, and relevant laws. By the end, you’ll have a comprehensive understanding of how HUFs

Introduction The Indian taxation landscape is continuously evolving to ensure equitable tax collection. One of the significant updates in Budget 2024 is the introduction of Section 194T, which brings a new dimension to the tax deduction at source (TDS) provisions by including payments made by partnership firms to their partners. This article explores Section 194T

Amendment to Provide Relief for Real Estate under LTCG Regime The Indian government has introduced an amendment to the Long-Term Capital Gains (LTCG) regime to provide relief for taxpayers concerning the taxation of immovable property. This amendment offers taxpayers the flexibility to choose between a lower rate of 12.5% without indexation or a higher rate