BUSINESS
F&O taxation: What you need to know about turnover, losses, and ITR filing
Non-speculative losses, such as those from F&O trading, can be set off against any income (except salary) within the same year, and can be carried forward for up to eight years.
BUSINESS
Capital Pains: Accurately reporting capital gains across multiple brokers
Each brokerage provides its own capital gains statement. However, these are siloed and may not factor transactions across different accounts.
BUSINESS
Digital Form 16: How to access, download, and use it for e-filing your income tax returns
ITR Filling 2025: Thanks to digitisation, accessing and using Form 16 for filing one’s returns has become more straightforward and convenient.
BUSINESS
Understanding Digital Form 16: Why it's important for your ITR filing
Digital Form 16 streamlines tax filing for salaried individuals, ensuring accuracy, speed, and security, while also promoting paperless filing.
BUSINESS
How new share buyback tax rules affect shareholders, corporates
Since share buyback amount is now taxed at potentially higher individual rates, the post-tax return for shareholders is reduced. This makes buybacks less beneficial as a method of returning capital compared to earlier when the tax burden was borne by the company
BUSINESS
ITR filing last date: Disclosing foreign assets in your ITR? Bear these points in mind
ITR filing 2024: If a resident individual acquires a foreign asset in July 2023 in a country that follows the calendar year for tax filing, the individual must report it in the ITR for FY 2023-24. Similarly, foreign assets acquired in February 2024 must be reported in the ITR for FY 2024-25.
BUSINESS
ITR filing 2023-24: Find out if you still owe taxes even after TDS has been paid
Even if your employer has deducted taxes from your salary, you may still be liable to pay taxes if your tax liability exceeds the TDS withheld.
BUSINESS
ITR filing 2024: Here are the rules that NRIs must be aware of, and save on taxes
Your taxability depends on your source of income and tax residency status. Besides being taxed in India, you may also be taxed in the country of which you are a tax resident. Unless you avail of the DTAA, if there’s one
BUSINESS
ITR filing: How to report F&O trading income in your income tax returns
Income tax: People with F&O income or losses should report it in ITR-3, which is for Individuals/HUF. Those opting for the presumptive taxation under section 44AD have to file ITR-4.
BUSINESS
ITR filing 2023-24: Why you must file Form 10-IA for claiming disability deductions
Income tax filing: It’s crucial to understand that deductions under Sections 80DD and 80U cannot be claimed without a valid certificate of disability. If the certificate expires, a new one must be obtained and submitted with the return to continue receiving the deductions.
BUSINESS
ITR filing 2024: Avoiding double-taxation: How Form 67 can help you claim foreign tax credit
ITR filing: Form 67 is a crucial document that aligns with global taxation principles. Filing of this form is necessary to ensure that taxpayers with foreign income do not come under double taxation.
BUSINESS
Income Tax Returns: Pre-validating your bank account can help expedite refunds
ITR filing 2024: By pre-validating, you eliminate potential hurdles that might delay your refund. The income tax department can directly deposit your refund in your pre-validated account, reducing processing time and avoiding failures.
BUSINESS
How to claim tax deductions on Ram Temple donations
Donations made towards the temple in Ayodhya are eligible for tax deductions, but not if you pick the new tax regime.
