Capital Asset includes movable and immovable, tangible and intangible, right, and securities (equity, bonds, etc.). Gains from such assets on its transfer are taxable under […]
Category: Tax Planning
Tax Planning
Capital Gains Tax on Real Estate
Real Estate includes land and building, which are always appreciated. Hence, awareness regarding capital gains tax on real estate is significant. The holding period of […]
GST on the sale of land in India – Definitions, Indirect Tax, Sale on land
Real Estate is an important sector for the economy’s growth. GST from real estate sector in India is a major source of revenue for the […]
Types of Residential Status
To determine whether income is taxable in the hands of the assessee or not, one needs to know his residential status. Moreover, the taxability depends […]
Computation of Income from Salaries
Before learning about the computation of income from salaries, let’s understand the sections covering the same. Income is of two types- taxable and exempt. Exempted […]
List of Exempted Incomes
Given below is the list of exempted incomes under section 10 of the Income Tax Act: Agriculture Income (Section 10(1)) Agriculture income is on the […]
Set Off and Carry Forward of Losses
Losses are hard to digest, but the Indian tax law provides benefits when a firm or company incurs losses. The provisions are Set Off and […]
GST Structure in India – Tax Planning, Indirect Tax, Indian Tax System
Introduction GST is known as the Goods and Services Tax. It is an indirect tax which has replaced many indirect taxes in India such as […]
Succession Certificate – Definition, Users
A Succession certificate is issued to the successor of a deceased individual who has not prepared a will. It establishes the legitimacy and authenticity of […]
How to save tax on the sale of property in India
Land is a capital asset that always gets appreciated. Hence, the owner makes huge capital gains on the sale. However, agricultural land in India is […]