Legally Save Lakhs: Selling Ancestral Property: Capital Gains & Tax Exemptions (2026 Guide) Does selling an ancestral property attract tax in India? Yes, the sale of inherited or ancestral property attracts Long-Term Capital Gains (LTCG) tax if held for more than 24 months. Taxpayers can choose between a 12.5% rate without indexation or a 20% […]
Buying Property Abroad: The 2026 Compliance Blueprint for Indian Residents Investing in global real estate—whether a villa in Dubai, a flat in London, or a vacation home in Southeast Asia—is a significant financial milestone. However, since the transaction involves sending money outside India, it is governed strictly by the RBI and the Income Tax Department.
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MCA Launches Companies Compliance Facilitation Scheme, 2026 (CCFS-2026) The Ministry of Corporate Affairs has introduced the Companies Compliance Facilitation Scheme, 2026 (CCFS-2026) to promote ease of doing business and allow companies to clear their backlogs with significantly reduced financial burdens. Since July 2018, companies have been facing a steep additional fee of ₹100 per day
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Is Your Tax Strategy Built on a Social Media Link? Here’s Why It’s Risky In recent period, social media platforms are flooded with links and snippets of “landmark” judgments from various Tax Tribunals (ITAT/CESTAT), High Courts, and the Supreme Court. While staying informed is excellent, there is a dangerous trend emerging: the belief that a
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Section 44AD: The Definitive Guide to Presumptive Taxation for Small Businesses (FY 2025-26) The Indian Income-tax Act, 1961, is often perceived as a maze of complex compliance and exhaustive bookkeeping. However, for small business owners, Section 44AD stands as a beacon of simplicity. By opting for the Presumptive Taxation Scheme, eligible taxpayers can shift their
Blocked Credit u/s. 17(5) of the CGST Act, 2017 – ITC That Cannot Be Claimed The fundamental principle of the Goods and Services Tax (GST) is the seamless flow of Input Tax Credit (ITC). However, this flow is not absolute. Section 17(5) of the CGST Act, 2017 specifies certain supplies where ITC is “blocked,” meaning
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Income-tax on Compulsory Acquisition of Land – A Complete Guide Compulsory acquisition of land is a subject that brings together law, tax, public policy and personal finance. For most landowners, the acquisition of their property by the Government is not a routine event. It is often sudden, involves large sums of money, and raises immediate
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1. What is a Section 133(6) Notice? A Notice under Section 133(6) of the Income-tax Act, 1961 is an important tool used by the Income-tax Department (ITD) to gather information that is relevant or necessary for any inquiry or proceeding under the Act. It is fundamentally an information-seeking notice, not an assessment or scrutiny notice
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About this Tool This tool helps manufacturers, traders, and retailers quickly calculate the revised Maximum Retail Price (MRP) of goods whenever there is a change in the GST rate. By entering the old MRP and tax percentage, you can instantly find the new base price, updated GST amount, and the new MRP to ensure compliance
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Taxability of Superannuation on Retirement Vs Termination / Job Change Taxability of Superannuation on Retirement Vs Termination / Job Change Superannuation is a popular retirement benefit extended by employers to ensure long-term financial security for employees. However, the tax treatment of superannuation fund payouts varies significantly depending on the reason for cessation of employment. This
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Income Tax Department Cracks Down on Fake Deductions and Exemptions in ITRs The Central Board of Direct Taxes (CBDT) has launched a massive verification drive across the country targeting fraudulent claims of deductions and exemptions in Income Tax Returns (ITRs) filed for Assessment Year 2025–26. This action comes as part of the government’s enhanced efforts
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Income Tax Filing 2025: A Complete Guide – File early for benefits Understanding Income Tax Basics What is Income Tax? Income tax is a direct tax that individuals, HUFs, and entities pay to the government based on their income earned during a financial year. In India, the Income-tax Act, 1961 governs this taxation. Who Needs
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Do Freelancers Need GST Registration? Income Tax Guide for Freelancers in India for 2024-25 Freelancing is booming in India, and more professionals are choosing flexibility and remote work over traditional jobs. But along with independence comes the responsibility of handling your own taxes. Two of the biggest questions every freelancer faces are: 👉 Do I
🚫 Supreme Court Cracks Down on Cash Transactions Above ₹2 Lakhs Landmark Judgment in RBANMS Educational Institution vs. B. Gunashekar & Another – Civil Appeal No. 5200 of 2025 The Hon’ble Supreme Court, in a recent judgment dated 16th April 2025, has delivered a significant verdict impacting real estate and financial transactions involving cash payments
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Gift from Relatives – Income Tax Exemption Explained [Section 56(2)(x)] Are you wondering whether gifts received from your family members are taxable? The good news is – gifts received from relatives are exempt from tax under the Indian Income Tax Act. But who exactly qualifies as a “relative” under the law? In this comprehensive guide,
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