Indexation: Meaning, Benefits, Calculation and More
Indexation refers to adjusting the impact of inflation on the value of an asset or transaction. In the context of income tax, it means recalculating the cost of an asset…
Indexation refers to adjusting the impact of inflation on the value of an asset or transaction. In the context of income tax, it means recalculating the cost of an asset…
Advance Tax is a system where income tax is paid in installments during the financial year instead of paying the entire amount at the end of the year. Any taxpayer…
A Permanent Account Number (PAN) card is a vital document for every Indian citizen. Apart from serving as proof of identity, it is required for filing Income Tax Returns, opening…
Launched in 2004 as part of the post office savings initiatives, the Senior Citizen Savings Scheme (SCSS) was designed to ensure financial stability for retirees by offering them a steady…
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…
Missed the deadline for filing your income tax return? Don’t worry—you can still submit your return after the due date, though it may attract a penalty. This guide explains belated…
Under the Income Tax Act, depreciation is allowed as a deductible expense for computing taxable income. Depreciation can be calculated using two methods: the Written Down Value (WDV) method and…
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…