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The Central Board of Direct Taxes (CBDT) has specified that no tax deduction at source (TDS) under Section 194Q of the Income Tax Act, 1961, will be required for purchases made from units of International Financial Services Centres (IFSC), provided b

Here’s a real- lesson from July 2024: Many salaried employees, while filing their ITR, realized too late that they had missed out on crucial tax planning and investment opportunities because the financial year had already closed. Don’t let this hap

Understanding Taxation: Salary vs. Income Hey there! Let’s talk about something essential in finance—taxation—and the difference between salary and income. First off, your salary is the fixed amount you earn from your employer, usually detailed in

₹1 Cr salary? You take home ₹65L after taxes. ₹1 Cr business profit? You keep ₹80L after deductions. ₹1 Cr in stock growth? ₹₹87.65L remains after 12.5% tax. The system wasn’t designed for workers. It was built for owners. Still chasing promotions

Filing Your ITR? Save on Taxes with Us! If you're planning to file your Income Tax Return (ITR), here's some good news: My organization is 80G certified! This means you can claim tax exemptions for donations made to us under Section 80G of the India

HR: What is your current salary? Candidate: ₹9,00,000 HR: What is your expected salary? Candidate: 12,75,000 HR: Great. We have a budget of ₹13,00,000 Candidate: But, I don't have the budget to pay taxes. I am happy at 12,75,000. This conversat

Income Tax Return Filing When tax liability rises due to the receipt of arrears or additional payments, it typically happens because these amounts are added to the individual’s total income for the current financial year. This increase in incom

For Individuals & Partnership firm only (not LLP) . Know when 𝐓𝐚𝐱 𝐀𝐮𝐝𝐢𝐭 is applicable to you & about 𝐩𝐫𝐞𝐬𝐮𝐦𝐩𝐭𝐢𝐯𝐞 𝐭𝐚𝐱𝐚𝐭𝐢𝐨𝐧 For FY 2023-24, the presumptive taxation limits are as follows: If you fall within the limits and pa

Greetings everyone! So in a previous post, I spoke about the tax system let's take a deep dive into it! India follows a progressive taxation system, i.e. tax is imposed on their income, but this isn't fair, especially for paid employees! It's becau

𝗪𝗵𝘆 𝗨𝗻𝗶𝗰𝗼𝗿𝗻𝘀 𝗮𝗿𝗲 𝗦𝗵𝗶𝗳𝘁𝗶𝗻𝗴 𝗧𝗵𝗲𝗶𝗿 𝗗𝗼𝗺𝗶𝗰𝗶𝗹𝗲 𝗕𝗮𝗰𝗸 𝘁𝗼 𝗜𝗻𝗱𝗶𝗮 ?? Recently, unicorn Groww completed its reverse flip, shifting its domicile to India from the U S. accounting for around $60 Mn-$70 Mn (approx. IN