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Most valuable assets you own are considered capital assets, such as property, shares, or bonds. When these assets are sold for a profit, the earnings are subject to capital gains…
Tax is a compulsory charge imposed by the government on individuals and entities, serving as a major source of revenue to finance development and welfare projects. In India, taxation is…
Section 112A deals with the taxation of long-term capital gains (LTCG) arising from the sale of listed equity shares, equity-oriented mutual funds, and units of business trusts. From 23rd July…
If you have lost or forgotten your Permanent Account Number (PAN), there are multiple safe and quick methods to recover it. Below is a summary of both online and offline…
The GST framework for old and refurbished cars has been streamlined, bringing more clarity and ease for both dealers and buyers. Following the 55th GST Council meeting, a uniform 18%…
Earning revenue is the primary objective of every business. There are different ways to achieve this, and to keep track of performance, businesses generally prepare two major financial statements: the…
India’s total debt has become a key economic indicator, reflecting how effectively the nation handles its financial responsibilities. As of early 2025, the country’s total debt is estimated at around…
Under GST, the event of Supply is treated as the basis for charging tax. The tax liability arises at the time of supply of goods or services. Therefore, identifying whether…
As per Section 194J of the Income Tax Act, any person (other than an individual or a Hindu Undivided Family) who makes a payment to a resident for professional or…
Leave Travel Allowance (LTA) is provided by an employer to cover an employee’s travel expenses, usually for a vacation. As per Section 10(5) of the Income Tax Act, LTA is…