The Income Tax Appellate Tribunal (ITAT) ruled in January 2020 that reinvesting the entirety of long-term capital gains (LTCG) inside a partner’s call qualifies for exemption under the capital profits exemption rules. The decision was reached after an applicant’s claim was turned down by the evaluating officer. The sale earnings of an asset held for […]
Category Archives: Tax Guide
How can I avoid paying capital gains tax on the sale of a home?
In Lucknow, incorrect property tax self-assessment will result in penalties.
The Lucknow Municipal Corporation (LMC) has warned that inaccurate information entered into the property tax self-assessment software would result in a warning. The offender will be penalised four times the gap between the current property tax and the amount paid. LMC’s self-assessment programme, designed to eliminate the misconduct, is set to be released shortly. The […]
Everything About Road Tax in India
How can I pay the Vasai-Virar VVMC property tax?
The Vasai Virar City Municipal Corporation’s (VVMC) internet site provides a platform where people may pay their property taxes quickly. Furthermore, it may be used with the help of consumers to publish various provider demands. The Vasai Virar City Municipal Corporation (VVMC) levies a tax on all immovable properties within its jurisdiction. Every year, the […]
All You Need to Know About CGST, SGST, IGST and UGST
All About Section 115BAC New Tax Regime
What exactly is Land Tax?
When intending to buy a land/plot or a developed property, it is essential to consider extra charges like stamp duty and registration fees to properly handle money. Land tax, on the other hand, is a regular expenditure that is paid bi-annually or annually. As a result, it must be completely comprehended before making a real […]
All about Taxation in India
While direct taxes are charged on taxable gains made via the use of individuals and business organizations, the burden of deposit taxes falls on the assessees. Oblique taxes, on the other hand, are collected on the sale and provision of items and services, with the burden of collecting and depositing taxes falling on the dealers […]
Basics Of Determining The Status Of An Income Tax Return
If you paid more tax than your actual tax burden during a fiscal year, you may be entitled to an income tax refund upon completing your income tax return (ITR) for that year. Nevertheless, you will not get your income tax refund until the tax department analyses your ITR and sends you an indication letter.
