Life insurance is the most popular insurance product in the market today. It is a must in any individual’s financial portfolio. It provides life cover to the policyholder for a sum assured in exchange for an annual premium (it can...

If the professional receipts of a person are more than Rs. 50 Lakhs – the benefit of Presumptive Tax under Section 44ADA cannot be taken. In such a case, the person would be required to prepare a Profit & Loss...

Flat 30% Tax has been levied on the sale of cryptos in India from 1st April 2022. Some people have started finding unique ways to legally save this tax and the same is explained below in detail. Topics Covered 30%...

There are several benefits of setting up a company in Dubai and one of the most important benefits is the low tax rates. Infact, in some areas (namely freezones) in Dubai – there is No Tax and that is why...

On the death of a person, his/her property is distributed amongst the persons as specified in the will. However, in case a person who dies without leaving a will (i.e. he dies intestate), in such cases the property would be...

A Standard Deduction is basically a deduction allowed in Income Tax irrespective of the expense incurred or the investment made by the Individual. No Disclosures/ Investment Proofs/ Expense Bills are required for this type of Income Tax Standard Deduction as...

Savings account is the most widely used account to park your savings. The withdrawal flexibility is what makes it the most preferred account. And Fixed deposits are popular in terms of returns. But most of us don’t know how the...

The maximum benefit of Home Loan which can be claimed as a Deduction in India is as follows:- Section Deduction allowed Allowed for Section 24 Rs. 2,00,000 Interest repayment Section 80C Rs. 1,50,000 Principal repayment Section 80EEA Rs. 1,50,000 Interest...

Capital Gains Exemption can be claimed under the Income Tax Act by reinvesting the amount in either purchasing/ constructing a Residential House or by reinvesting the amount in Capital Gain Bonds. The seller of the asset either has the option...

Capital Gains Tax on Sale of Property in India is levied depending on the duration for which the property was held by the seller. If the property was held for less than 2 years – it would be classified as...