Diwali Special: Exploring Section 111A, off-market transactions and the Section 87A rebate Diwali is a time to celebrate prosperity, welcome new beginnings and look forward to financial well-being. For some investors, the festive season may bring an unexpected bonus in the form…
The proportion of Indian taxpayers declaring gross income of more than Rs 50 lakh (about US$52,900) has nearly doubled over the past three assessment years. NEW DELHI – India is witnessing a steady rise in the number of individuals reporting higher annual…
Section 236C of the Income Tax Ordinance requires sellers to pay advance tax at the time of property transfer, with exemptions for specified government allottees and overseas Pakistanis. The Federal Board of Revenue (FBR) has outlined rules for the collection of…
Buyers of goods and properties sold through public auctions or tenders will be required to pay advance tax under Section 236A of the Income Tax Ordinance, 2001. The Federal Board of Revenue (FBR) will collect advance tax on the sale of goods…
Traders must also account for brokerage, Securities Transaction Tax, exchange fees, stamp duty, GST and SEBI charges. A profitable trade on the screen may therefore produce a smaller net return after all costs are deducted. This guide explains the tax…
QUESTION: I own agricultural land on the edge of a town and have recently been approached by a property developer who is interested in acquiring part of it for housing. The price being discussed is considerably more than the agricultural…
cfo.economictimes.indiatimes.com New Delhi, Indians are increasingly diversifying their income beyond traditional salaries towards income from side hustles, freelancing, trading, and business ventures, as a significant percentage of self-filers on the ClearTax portal reported income from non-salary sources…
1. Prepare a one-page chronology from the last purchase or construction through each death, will, succession, partition, release and sale. 2. Place certified or legible copies of title instruments in chronological order and mark the ownership fraction at every stage. 3. Create separate…
A tax bill can arrive for gains you never chose to take, and the window to fight back closes December 31. Knowing which moves to make before year-end, and which ones quietly void your losses, separates investors who absorb the… Tax…
Selling appreciated stock or property before year-end opens a tax-deferral option, but the exact date you fund the investment splits into two very different outcomes, one of which barely defers anything at all. Tax Master desk. Editor: Vilma Rios. If…
Holding periods, tax lots, harvesting losses, and dividend types.
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