Introduction Tax planning can be a complex process, especially for Non-Resident Indians (NRIs) who decide to return to India. As you prepare to transition back to your home country, understanding the tax implications is crucial to ensure you don’t end up overpaying or...
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Navigating Tax Implications in Collaborative Property Sales to Dealers in India
Introduction:The collaborative approach to property sales in India, where sellers join forces with dealers, offers a unique set of advantages in terms of market reach and efficiency. However, both sellers and dealers must understand the tax implications associated...
Tax Law of India: Direct and Indirect Tax Laws
A tax may be defined as a pecuniary burden laid upon individuals or property owners to support the Government, a payment exacted by legislative authority. A tax is not a voluntary payment or donation, but an enforced contribution, exacted pursuant to legislative...
Benefits of filing income tax returns – Tax consultant in India
Here are some advantages of filing ITR: Loans Having filed the ITR will help individuals, like the one in the example above, when they have to apply for a vehicle loan (two-wheeler or four-wheeler). All major banks can ask for a copy of tax returns. State Bank of...
File your Income Tax Return for Assessment Year 2014-15 and 2015-16 by 31st March 2016
The Central Board of Direct Taxes (CBDT) has notified the Income Tax Returns (ITR) for Financial year 2014-15 (Assessment Year 2015-16). The new ITR forms have been released by CBDT for FY 2014-15 Income Tax Returns Filing. What is Assessment Year & Financial...
Swachh Bharat cess of 0.5% on taxable services
Government might get Rs.400 cr in financial year 2016 via this levy The government will impose a Swachh Bharat Cess of 0.5 per cent on all services presently liable for service tax, with effect from November 15, the finance ministry stated on Friday. The proceeds are...