To ensure smooth tax payments, the Income Tax Act has set up rules for paying advance tax. Taxpayers must pay their advance tax in four installments. If there’s any delay in these payments, a penal interest will be charged under Section 234C of the Income Tax Act.What is Section 234C?Section 234C of the Income Tax Act requires taxpayers to pay their advance … [Read more...] about Interest on Delayed Advance Tax Payments: Section 234C Explained
Interest on Late Advance Tax Payments: Section 234B Explained
According to the Income Tax Act of 1961, if someone doesn't follow the tax rules, they may have to pay penalties. These penalties include interest on unpaid tax amounts. Section 234 outlines these penalties, and specifically, Section 234B deals with interest charged for not making advance tax payments on time, especially if the taxpayer fails to pay online.Understanding … [Read more...] about Interest on Late Advance Tax Payments: Section 234B Explained
T+1 Settlement Cycle Explained: How Stock Trades Settle Faster in India Now
I bought shares yesterday. Why aren’t they showing in my Demat account?I sold my stocks today—when will I actually get the money?T+1? Is that a tax code or a railway ticket class?If questions like these have ever crossed your mind, you’re not alone—and you’re definitely not the only one who felt too shy to ask.For many Indians stepping into the stock market for … [Read more...] about T+1 Settlement Cycle Explained: How Stock Trades Settle Faster in India Now
Your Guide to Income Tax Notices: 8 Alerts Every Taxpayer Should Know!
The income tax department may send you a tax notice if they find any errors in your tax return. These notices are a way for the tax authorities to alert you about mistakes that need to be corrected. Depending on what the issue is and how you respond, the tax officer might take further action.It’s crucial to understand why you might get a tax notice and how to handle it. … [Read more...] about Your Guide to Income Tax Notices: 8 Alerts Every Taxpayer Should Know!
Understanding How New Share Buyback Tax Rules Impact Shareholders and Corporations
The Indian government's new tax rules for share buybacks have created quite a buzz since they came into effect on October 1, 2024. These changes, announced in Budget 2024, will affect both shareholders and corporate strategies in significant ways.If you're wondering how these changes might impact you or the companies you invest in, you're in the right place.This article … [Read more...] about Understanding How New Share Buyback Tax Rules Impact Shareholders and Corporations