Received Money for Withdrawing a Property Case – Do You Always Pay Tax?
A Simple Lesson from the Shireen J. Dastur Case When people hear that someone received ₹15 crore, the first reaction is usually: 👉 “Surely tax must be payable on this!”
ODI through LRS Route for Individuals
Investing outside India has become easier for resident Indians, thanks to clear rules under FEMA (Foreign Exchange Management Act). Here’s a handy guide to Overseas Direct Investment (ODI), Liberalised Remittance
Long Term Capital Gain on Depreciable Asset and Concessional Tax Rate?
Introduction Under the Indian Income-tax Act, 1961, depreciable assets such as buildings, machinery, and furniture are grouped into ‘blocks of assets’ for the purpose of claiming depreciation. When such assets
Smart Tax Planning for NRIs: Save on Capital Gains Using Section 115F
If you’re an NRI selling shares of an Indian company and dreading that long-term capital gains tax bill—take a deep breath. There’s a legal way to save tax, and it’s
Understanding the RoDTEP Scheme: A Comprehensive Guide for Exporters
The Remission of Duties and Taxes on Exported Products (RoDTEP) scheme, launched by the Government of India in January 2021.RoDTEP is a export incentive scheme that replaced the Merchandise Exports
Share Buyback vs Dividend vs Salary: What’s the Best Tax-Efficient Option Amidst Finance Act (No. 2), 2024?
In a significant shift brought by the Finance Act (No. 2), 2024, the taxation regime for share buybacks in India has undergone a major transformation. With the repeal of Section
TDS on Partner’s Remuneration and Interest – New Section 194T
What is Section 194T? Section 194T mandates TDS at 10% on the following payments made by a firm (including LLPs) to its partners: Salary or remuneration Interest on capital Commission
Amendments to Section 40(b) of the Income Tax Act, 1961: Implications for Partner Remuneration
The Finance Act 2024 has introduced significant amendments to Section 40(b) of the Income Tax Act, 1961, which governs the deductibility of remuneration paid to working partners in partnership firms
10 Things You Must Know Before Using HUF as a Tax Planning Tool
A Hindu Undivided Family (HUF) is a unique entity under Indian tax laws that can be effectively used for tax planning. However, before you take this step, it is crucial
Applicability of GST on Commercial Premises Co-operative Societies
The implementation of the Goods and Services Tax (GST) has had a significant impact on various sectors, including co-operative societies. While there is a general understanding of GST applicability to