Category: Income Tax

post-Capital Gains Tax on Sale of Property in India in 2023
Capital Gains Tax on Sale of Property in India in 2023

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 2023?
How to open Capital Gains Account in India in 2023?

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 2023 [Complete Guide]
TDS on Sale of Property by NRI in 2023 [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 2023 (Detailed Guide)
1% TDS on Sale of Property u/s 194IA in 2023 (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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post-Income Tax on Rent earned by NRI’s in India
Income Tax on Rent earned by NRI’s in India

A Large No. of NRI’s settled abroad now own property in India and many of them have even given such properties on Rent. In this article, we would be focusing on the levy of Income Tax on Rent received by...

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post-Income Tax Form 13 for Lower Deduction of TDS: Section 197
Income Tax Form 13 for Lower Deduction of TDS: Section 197

As per the provisions of the Income Tax Act, TDS is required to be deducted at the time of making any payment. This TDS is deducted by the person who is making the payment and is required to be deposited...

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post-Tax Saving Fixed Deposit: Should you opt for it?
Tax Saving Fixed Deposit: Should you opt for it?

To give a boost to the declining interest in fixed deposits of retail investors, the Finance Ministry in the year 2006 announced that all Fixed Deposits with a maturity of not less than 5 years shall be eligible for deduction...

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post-Points to consider before opting for a Term Insurance Plan during Covid-19
Points to consider before opting for a Term Insurance Plan during Covid-19

An insurance policy is more than an investment for an individual. It is a symbol of assurance for the family of the individual that they would be well taken care of in the unfortunate event of an individual’s death. And...

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post-NRI TDS Certificate – Should NRI opt for it? (Practical Analysis)
NRI TDS Certificate – Should NRI opt for it? (Practical Analysis)

Whenever an NRI receives any payment, TDS is required to be deducted on such payments. The person who is making the payment to the NRI deducts some amount (technically called as TDS) and makes the balance payment to the NRI....

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