Is Tax Planning Legal or Illegal Tax planning is a crucial part of managing personal and business finances, but questions often arise about its legality. In this brief blog, we’ll clarify whether tax planning is legal or illegal and explain why it matters. What is Tax Planning? Tax planning involves arranging one’s financial affairs to… Read More »
What is meant by net proceeds in taxation In the context of taxation, net total proceeds represent the total revenue obtained from a specific transaction or event, taking into account all applicable expenses, taxes, and deductions. To visit https://www.gst.gov.in/ For instance, let’s consider the scenario where an individual sells a property for Rs. 50 lakhs.… Read More »
What is a tax exemption? A tax exemption refers to the exclusion of certain income, investments, or expenses from being subject to taxes. Governments grant tax exemptions to encourage specific activities or provide benefits to particular groups of taxpayers. For instance, in India, under Section 80TTA of the Income Tax Act, the interest earned… Read More »
