In India, there is a popular belief that agricultural land is a lucrative investment option since no capital gains tax means the returns are higher. H...
Clubbing Of Income Under Section 64
Clubbing Of Income Under Section 64 Introduction: When it comes to taxation, the Indian Income Tax Act, 1961, is replete with provisions aimed at prev...
What is presumptive taxation?
Presumptive Taxation Scheme In order to make tax filing simpler for small businessmen and professionals, the presumptive taxation scheme was introduce...
What changed in the minimum threshold for TDS in online gaming?
Online gaming organisations must deduct TDS at the rate of 30% on any winnings drawn by a user from winning online games if it exceeds the threshold o...
Kind Attention Taxpayers!
Why To Link PAN With Aadhaar The Income Tax Department has issued a fresh notification, asking the regular taxpayers to link their Permanent Account N...
I own two houses. One is a farmhouse that I visit every week, and the other is my residence. Can both these residences be treated as self-occupied?
Until Assessment Year (AY) 2019-20, only one property could be claimed as self-occupied for tax purposes. 🏠 From AY 2020-21 onwards, both houses ca...