Deadlines for GST Tax Payments The specific deadlines for GST tax payments vary based on the taxpayer’s category and the frequency of their filinga Here are some general guidelines for GST tax due dates in India: Monthly GST Return Filers: For businesses that file their GST returns on a monthly basis, the tax due… Read More »
Introduction Futures trading is an attractive option for investors looking to hedge risks or speculate on price movements. However, traders often overlook the tax implications associated with futures contracts, which can significantly impact profits and financial planning. Understanding these tax rules is essential for traders to maximize gains while ensuring compliance with… Read More »
Tax planning for property Sale Tax planning for property sale, Capital gains tax: As an 80-year-old individual who is selling his own earn immovable property. May be liable to pay capital gains tax on the sale, depending on the specific details of the transaction. Capital gains tax is a tax levy on the profit earn… Read More »
Terminal tax It refers to the ultimate tax payment that must make by an individual or entity prior to the conclusion of a tax period. This scenario commonly arises for businesses or self-employed individuals who obligate to pay provisional tax throughout the year, estimated based on their projected income. When the tax year concludes, the… Read More »
Introduction Filing an Income Tax Return (ITR) is a crucial financial responsibility for individuals and businesses alike. Many people perceive it as a tedious task, but it offers significant benefits that go beyond mere compliance. Whether you are a salaried employee, a business owner, or a freelancer, filing your ITR can help in financial planning,… Read More »
What is advance tax Advance tax is the taxes paid in advance on the estimated income of the current financial year. It is a way of paying tax on an ongoing basis rather than waiting until the end of the year. In India, individuals and businesses require to pay advance taxes if their tax liability… Read More »