Category: Income Tax

The first thing to consider before registering a company in Dubai or in any other emirate of UAE is whether you should incorporate a company in the Mainland or in the Freezone. In some cases, Freezone companies are considered to...

If you are planning to register your company in a foreign land, then here is the list of the Top 15 Tax-Free Countries in the World. These are the countries where there is completely Zero Tax. Neither do they levy...

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%...

A lot of Indians opt for Dubai Company Formation as it is not only tax free but it doing International Business from Dubai is also easier as compared to doing it from India. However, before a person starts the process...

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...

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...

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...