• All You Need to Know About Taxation on Sales of Agricultural Land in 2021

    As India is primarily an agrarian economy, persons who make a living from agriculture are granted a variety of incentives and benefits. For instance, farmers in India are exempted from paying any tax on their income from agricultural land under the country’s income tax regulations. However, this does not mean that no tax is levied…

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  • How Can the DTAA Provide Benefits to NRIs in India On Double Taxation?

    The residential status of an individual is critical in determining the way how his or her income will be taxed in India for that year. It is common to see non-resident Indians (NRIs) and persons of Indian origin (PIOs) carefully planning their stay in India for the specified year so that their income does not…

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  • Top 5 Reasons To File Your Tax Returns Even If Your Income Is Not Taxable

    Tax filing is a mandatory requirement for anyone with a taxable income of Rs 2.5 lakhs and above. It is also mandatory for cases mentioned below If you are an individual who has paid an electricity bill over Rs 1 lakh or Spent Rs 2lakh and above in travel abroad. The aggregate of deposits in…

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  • How Gains From Foreign Stock Markets Are Taxed In India

    Understanding how your investments are taxed is critical when investing in the stock market. Before investing in international stocks from India, here’s everything you need to know. In general, gains derived from the sale of foreign stocks would be taxed as capital gains in the hands of the Indian investor. For tax purposes, foreign stocks…

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  • What Is The Annual Information Statement

    Annual Information Statement is a record of all financial transactions done by you during the financial year. Details that can be seen on your AIS Salary paid to you Dividend received Interest from the savings account, recurring deposits, FDs, debentures, etc Interest from Income tax refund Sale and purchase of equity shares, bonds, mutual funds,…

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  • Filed ITR But Havent Received Refund Yet? Heres What You Need To Do

    If the IT department determines that taxpayers taxes paid to the department exceed their actual tax responsibilities, a refund is initiated. An intimation notice under section 143 (1) with the amount of the refund and a refund sequence number is sent to the taxpayer via SMS and an email. However, taxpayers must file an income…

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