Brokerage paid to transfer a capital asset can generally be deducted when computing capital gains, but Securities Transaction Tax (STT) cannot, according to tax and investments expert Nishant Shanker. The deduction for…
Agricultural land in India is generally not a capital asset unless it falls within urban limits defined by population and distance from a municipality or cantonment board. For a reader who inherited…
Software engineers earning additional income by developing and selling mobile applications as a side business can opt for the presumptive taxation scheme under Section 44ADA to simplify tax compliance, reports Livemint. Under…
Selling old gold jewellery triggers capital gains tax, and using the proceeds to buy new jewellery does not automatically make the gain tax-free. The income tax department treats jewellery as a capital…
The Income Tax Appellate Tribunal has deleted tax additions in two separate cases involving disputed property transactions, both rulings published by Livemint. In the first, the Mumbai ITAT set aside a Rs…
Indian professionals working overseas risk losing billions of dollars in social-security contributions when returning home, a loss often called an 'exit tax', though it is not a tax but forfeited deferred pay.…
Taxpayers who start building a new house before selling their old one can still claim the Section 54 capital gains exemption, provided the construction is completed within three years of the sale.…
If you sold agricultural land, whether you must pay capital gains tax depends on the land's location. Rural agricultural land is exempt from capital gains tax as it is not considered a…
Crypto gifting is legal in India, according to CoinDCX finance head Pranav Pagaria. Virtual digital assets are recognised under the tax framework. Gifts from specified relatives, such as spouses, parents, children, and…
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has ruled that the fair market value (FMV) of ESOP shares on the exercise date can be treated as the cost of…
Ashin Xavier: interesting
IO Repro: Repro test v4 after fix 2 Oct. Safe to trash.
IO Repro: Repro test v3 after fix 2 Oct. Safe to trash.
IO Repro: Repro test after fix 2 Oct. Safe to trash.