In India, the Income Tax Act categorizes various sources of income for taxation purposes. While most people are familiar with income from salaries, business, and investments, there is a category called “Income from Other Sources” that encompasses diverse earnings not covered under the other specific heads. This blog aims to shed light on what constitutes income from other sources and how it is taxed in India.… Read more

Section 115JD of the Income Tax Act, 1961, was introduced to provide relief to certain taxpayers who have accumulated long-term capital gains (LTCG) but wish to convert their capital assets into new assets. Under this section, taxpayers can claim credit for the taxes paid on LTCG, subject to certain conditions. In this blog, we will explore the provisions of Section 115JD, its applicability, and the claiming procedure for the tax credit.… Read more