Category: News
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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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Tax Treatment Of Listing Gains From An IPO
As many IPOs are listing at a good premium, many investors look at booking profits on listing as this proves to be a good way to earn sizeable returns in a short period. Did you know there are tax implications that you should take into consideration? Check out what’s the right way listing gains are…
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Learn how medical bills of senior citizen parents can save your taxes
Learn how medical bills of senior citizen parents can save your taxes Maintaining good health is undoubtedly the theme of the season. With the second wave of COVID going on in full swing, health insurance looks like an unavoidable necessity that also allows you tax benefits under Sec 80D. But the catch here is –…
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Income Tax Return & GST filing Due Date Extended: COVID-19 Effect
Amidst the complete shutdown in almost the entire country as a precautionary measure against the highly contagious covid -19 virus, the honorable Finance Minister of India Mrs. Nirmala Sitharaman had announced a series of measures on 24th March 2020 to combat the economic turbulence in India. Various reliefs in compliance and filing extensions put forth…
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Advisory on Coronavirus (Covid-19) Outbreak
Dear Tax2Win Team, As you may be aware that our country now has reported more than 175 positive cases from coronavirus. Last night, our Rajasthan government also imposed section 144 in the state in order to take precautionary measures from spreading this disease. It is necessary that we all observe precautions to minimise the risk…
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Investments proof
Deduction under section: Deduction for: Investment proof to be submitted Maximum Limit of Deduction 80C Life Insurance PPF Principal Repayment of Housing Loan ELSS/Mutual Fund (Tax Saving) Children Tuition Fees (up to 2 children) NSC Unit linked Insurance Scheme / Plan Fixed Deposits (Tax Savings) Sukanya Samriddhi Account Deferred Annuity Plan Subscription to any deposit…
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Major Highlights of 38th GST council meeting
38th GST Council Meeting was held on 18th Dec 2019, the key highlights include: Grievance redressal committees (GRC) will be constituted at the Zonal/State level to address grievances of the specific/general nature of taxpayers at the zonal/state level. Due date of annual return (GSTR 9) & reconciliation statement (GSTR 9C) for F-Y 2017-18 further extended…
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GST & Customs Communication to be quoted with DIN – CBIC
CBIC on 5 November 2019 issued a circular instructing the procedure which needs to be followed for the generation and implementation of DIN ( Document Identification Number) on all GST and custom communications with taxpayers, effective from 8 November 2019. Objective of implementing DIN under GST Act In accordance with the government’s objective to…