Category: Taxation

images
images
Income Tax on Gifts in India – Exemptions, Limits & Taxability

Income Tax on Gifts in India – Exemptions, Limits & Taxability

Gifts are exchanged between friends and families to carry deep meaning and goodwill. A significant part of our Indian culture of showing love and joy is to give a gift on every occasion, whether it is a wedding, a festival, or a birthday. In India, gifts bring  twists. If the value of your gift exceeds

Learn More
Key Updates in ITR-3 & ITR 4 for AY 2025-26

Key Updates in ITR-3 & ITR 4 for AY 2025-26

The Income Tax Department of India has updated the ITR forms for the assessment year 2025-26. These amendments aim to enhance transparency and improve the reporting and monitoring system for income tax in India. A significant change has been introduced in the ITR-3 and ITR-4 disclosures, and taxpayers need to stay informed about these updates

Learn More
Long Term Capital Gains under section 112A of Income Tax Act 1961

Long Term Capital Gains under section 112A of Income Tax Act 1961

If you invest in stocks or mutual funds, you’ve probably heard the term “Long-Term Capital Gains,” or LTCG. But what does it actually mean? And how much tax do you need to pay on it? That’s where Section 112A of the Income Tax Act comes in. This rule was reinstated in 2018 and altered how

Learn More
Transfer Pricing Rule 10D

Transfer Pricing Rule 10D: Documentation, Penalties & Best Practices

Are you also a company that is trying to establish a subsidiary company in a foreign country, or have you already established such companies? Then you must have heard the term ‘transfer pricing‘—an essential concept for cross-border transactions. So, if your company is operating in India, you must comply with transfer pricing regulations. For this,

Learn More
Old Tax Regime vs New Tax Regime

Old Tax Regime vs New Tax Regime

Since 2020, taxpayers in India have had the option to choose between two income tax regimes: old and new tax regime. Both offer unique advantages depending on your income structure, financial habits, and investments. Choosing the right regime is crucial. It directly affects your tax liability, and making an uninformed choice could cost you money.

Learn More
ITR Forms: Which one should you file

ITR Forms: Which one should you file?

Filing your Income Tax Return (ITR) is not just a practice that is scheduled to be done, but it is a financial responsibility that demands your complete awareness and clarity. There are several ITR forms available on the portal, but you must choose the one that is suitable for you to stay compliant with the

Learn More
Tax implications / Benefits under India & US tax treaty

Tax implications / Benefits under India & US tax treaty

In our previous blog, we explored the concept of the Double Taxation Avoidance Agreement (DTAA) and highlighted the tax rates India shares with key countries. This time, we’re zooming in on the India–US treaty -DTAA—one of the most crucial tax treaties for individuals and businesses navigating cross-border income. Are you living in India and earning

Learn More
15CA / 15CB: Applicability, dos, and don’ts

15CA / 15CB: Applicability, dos, and don’ts

As global business grows, so do cross-border payments. And with that, the Indian government has laid down some compliance rules, especially when you’re making payments to someone outside India. One of the key rules? You may need to fill out Form 15CA and Form 15CB. Now, if you’ve ever tried sending money overseas, you’ve probably

Learn More
Introduction to 15CA & 15 CB

Introduction to 15CA & 15 CB

Have you also made a foreign payment recently, or are you planning to do so in the near future? If yes, you might be surprised to know that it’s not just about sending money through the bank and staying happy. There are certain filings that you need to keep in mind. Whether you’re a business

Learn More
1 2 12
images

Ready to assist with your Queries