Income Tax

There was a time when Long Term Capital Gain on the sale of shares was exempt from tax and we thoroughly enjoyed that era as investors in the stock market. Most of my investments always were and are invested for the long term with very little shifting between stocks. And then there came a big …

Unfold my secret recipe to Save Tax on Long Term Capital Gain on Shares Read More »

You may have sold or are planning to sell your residential house property for various reasons. Either you have permanently shifted out of the city, State or country, in need of funds to buy another residential house property, looking to invest in newly constructed house and wanting to dispose off old ancestral property. Whatever the …

How to Calculate Long Term Capital Gain on Property Read More »

F&O Losses may be irreversible, but what if they could offer you some tax savings in the current year and the years to come? -Tanuja Gupta Many Salaried employees are unaware of the benefits of claiming the F&O business loss while filing their income tax returns against all other incomes except Salary Income. This lapses …

Convert F&O Trading loss into Tax Savings by carry forward for 8 years Read More »

Who welcomes losses even if they might be the gateway to mastering the art of trading in F&O? Yet, could F&O losses be less daunting if they come with the silver lining of tax savings? Recently, the Securities and Exchange Board of India (SEBI) issued a report, stating that 9 out of 10 individual traders …

F&O loss set off: How Salaried Employees can Save Tax Read More »

You as a small business or Professional generally have to maintain Books of accounts to compute your Profits and Gains from Business & Profession but if you qualify for the Presumptive Taxation scheme subject to certain limits and conditions, then you can easily compute your Profits and gains from your business or profession at a …

Who Can Benefit from Presumptive Taxation for Small MSME Businesses and Professionals? Read More »

Taking Housing loans is a very common practice when you buy your house. Housing loans are not only to fund 70-80% of your house value but help you in reducing your tax liability too. Principal repayment, interest paid, along Pre-occupation interest are allowed as a deduction with certain limits & conditions but some taxpayers out …

Five Smart Strategies to claim Home Loan Tax exemption Read More »

Get Income Tax Benefits as per your salary slip which includes 3 salary components earnings, allowances, and deductions. A penny saved is a penny earned but only if done correctly. Salaried employees are no doubt the major chunk of taxpayers in India and have to pay flat taxes as per tax slabs that you fall …

7 worst mistakes to avoid by salaried when filing income tax returns Read More »

The other day I was on a walk with a friend (Priyanka) in her 40s. The topic for that day was her income and taxes applicable. She is a very hard-working girl with a fixed salary income, some consultant fees out of her side hustle on weekends as a freelancer, rental income from a house …

Do I Need to File ITR If TDS is Already Paid? Read More »

“There are nearly 80 million investors out of which around 50 million unique household investors, which is 17 percent of India’s all households put together and they are directly investing in the Indian stock markets” –Business Today India is worldwide known either through cricket, Bollywood, or its stock market. Equity is one of the most …

Explained: How to minimize capital gain tax on equity and MFs Read More »