BUSINESS
Infosys buyback: Should you participate or skip it this time?
Under the current tax regime, the entire amount received under a buyback is taxable as dividend income in the hands of the shareholder, with no deduction allowed for the cost of acquisition of the shares.
BUSINESS
Joint ownership and rent: How income should be split between co-owners
Income from an asset is taxable in the hands of the person who is its beneficial owner that is, the one who has actually funded the purchase.
BUSINESS
Married daughters are equal coparceners in HUF; partial partition has no tax validity
A partition of an HUF is valid under income tax laws only if it is a complete partition both in terms of all assets and all members.
BUSINESS
Buying property in wife’s name: Tax implications and clubbing rules explained
Clubbing provisions under Section 64 will trigger and any income arising to your wife from the assets gifted or acquired from the gifted assets will be taxed in your hands.
BUSINESS
Is alimony taxable? Understanding tax rules on lump sum and monthly maintenance payments after divorce
In the case of recurring alimony payments, no specific exemption is available under the Income Tax Act.
BUSINESS
Is sale of agricultural land taxable? Capital gains exemption explained
The taxability of capital gains on the sale of farm land depends on whether the land qualifies as rural or urban agricultural land
BUSINESS
Can capital gains exemptions be claimed for the same house under both Section 54 and Section 54F of the Income Tax Act?
There is no explicit restriction in the Income Tax Act that prohibits claiming exemptions under both 54 and 54F sections in respect of the same residential house.
BUSINESS
NRI returning to India: When does your NRE account lose tax-free status?
A person becomes a resident under FEMA once they return to India for employment, to start a business or profession, or with the intention of staying in India for an indefinite period.
BUSINESS
Can mutual fund units held in non-demat form be gifted or transferred?
Mutual fund investors can gift or transfer units held in non-demat mode (SoA format). The facility is available across all mutual fund schemes except ETFs
BUSINESS
Buying property from an NRI? TDS deduction is mandatory even if you take a home loan
Under Section 195 of the Income Tax Act, the buyer is required to deduct tax at source at 12.5 percent if the seller is a non-resident for tax purposes.
BUSINESS
Are donations received for medical emergencies taxable under income tax laws?
The money received by you, though referred to as a donation for medical purpose, is treated as a gift under income tax laws.
BUSINESS
Can rental property loans help reduce income-tax burden?
For a 'let-out property', you can claim the full interest paid on a home loan as a deduction under Section 24 without an upper limit
BUSINESS
PPF rules for NRIs: Can parents fund a daughter’s account after she moves abroad?
According to PPF rules, an individual cannot deposit more than Rs 1.5 lakh in total across their account and those of their children
BUSINESS
How are gifts to Hindu Undivided Family taxed? Key rules every taxpayer should know
The threshold limit of Rs 50,000 applies only to gifts received by the HUF from non-specified relatives during a financial year. If the total value of such gifts exceeds Rs 50,000, then the entire amount becomes taxable in the hands of the HUF.
BUSINESS
Can you claim both HRA, home loan deduction if you rent out first home?
Tax benefits on a home loan do not depend on whether it is your first or second house. It depends on whether the property is self-occupied or let out/deemed to be let out
BUSINESS
How to claim capital gains exemption under Section 54F when buying a new house
Section 54F exemption is available only if the taxpayer does not own more than one residential property on the date of sale of the asset(s), other than the new house being acquired.
BUSINESS
Is employer annuity taxed as salary? Here’s how standard deduction applies
Pension received from an ex-employer is taxable under the “salaries” head and is eligible for standard deduction
BUSINESS
Selling your old house? Here is how to choose between 20% tax with indexation or 12.5% without indexation to reduce capital gains liability
Benefit of indexation is available only for computing the final tax liability and not for other purposes, such as the amount to be invested for claiming exemptions or the amount of loss to be carried forward for set-off against income in subsequent years.
BUSINESS
When your minor child starts earning - who pays the tax?
If the income is earned by the child through her own manual work or by using her special talent and expertise, the clubbing provisions will not apply, and such income shall be taxed in her own hands.
BUSINESS
Gifting shares to children: Know the tax rules on transfer and sale
The shares transferred by your father to your demat account are to be treated as a gift, and hence, there is no tax implication at the time of transfer. If you sell these shares, you will be have to pay LTCG
BUSINESS
Missed the September 16 ITR deadline? Here’s how you can still file your return and what it means
If the deadline of September 16 is missed, one can still file a belated return by 31 December 2025, which is the last date under normal provisions.
BUSINESS
How gifts are taxed and when they are not; How clubbing provisions differ for a son-in-law and a daughter-in-law
When a daughter-in-law receives gifts from her parents-in-law, or a wife receives gifts from her husband, there will be no tax liability at the time of receiving the gift, but any income earned from the gifted asset will be added to the donor’s income.
BUSINESS
Income from inherited agricultural land is tax-exempt but could push up your tax bracket; HUFs enjoy additional benefits
Agricultural income is fully exempt under Section 10(1), but it must be included for rate purposes. This means that it is added to your total income to compute the tax rate applicable to your regular income, effectively increasing your average rate of tax.
BUSINESS
Filing ITR after the deadline: Can you still opt for presumptive taxation under Section 44ADA?
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