Category: Income Tax

post-How to save Tax on Sale of Bitcoin & Cryptos in 2022 (Legally)?
How to save Tax on Sale of Bitcoin & Cryptos in 2022 (Legally)?

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%...

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post-My Company Setup Experience in Dubai Freezone (from India)
My Company Setup Experience in Dubai Freezone (from India)

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...

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post-2 Types of Standard Deduction in Income Tax for 2022
2 Types of Standard Deduction in Income Tax for 2022

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...

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post-How to avail Max Home Loan Tax Benefit in India in 2022?
How to avail Max Home Loan Tax Benefit in India in 2022?

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...

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post-Section 54, 54EC, 54F: Capital Gain Tax Exemption in 2022
Section 54, 54EC, 54F: Capital Gain Tax Exemption in 2022

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...

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post-Capital Gains Tax on Sale of Property in India in 2022
Capital Gains Tax on Sale of Property in India in 2022

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...

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post-How to open Capital Gains Account in India in 2022?
How to open Capital Gains Account in India in 2022?

If a person is claiming Capital Gains Exemption, he is required to deposit the money in a Capital Gains Account before the due date of filing of ITR. This article explains in detail about How to open a Capital Gains...

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post-TDS on Sale of Property by NRI in 2022 [Complete Guide]
TDS on Sale of Property by NRI in 2022 [Complete Guide]

This article covers in detail the applicability of TDS on Sale of Property by NRI in India. In this article, the following topics have been explained in detail. Applicability of TDS on Sale of Property by NRI What is the...

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post-Practical Issues regarding Double TDS  – Section 206AB
Practical Issues regarding Double TDS – Section 206AB

In order to encourage taxpayers to file ITR and discourage non-filers of ITR, new provisions of the Income Tax Act will get applicable from 1st July 2021 under which TDS would get applicable at double rates for specified category of...

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post-1% TDS on Sale of Property u/s 194IA in 2022 (Detailed Guide)
1% TDS on Sale of Property u/s 194IA in 2022 (Detailed Guide)

TDS on Sale of Property is levied @ 1% on transaction of all properties where the total transaction value is more than Rs. 50 Lakhs. The manner of levy of TDS on Property has been explained in detail in this...

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