Capital Gain Tax Harvesting is a legal strategy used by investors to minimize taxes by selling capital assets to take advantage of tax exemptions.Here's a breakdown of how it works:How to Save Tax through Capital Gain Tax HarvestingIf someone doesn’t have long-term capital gains in a year but has unrealized gains from shares, they can sell shares to realize a gain … [Read more...] about Is Capital Gain Tax Harvesting Legal in India? Your Essential Guide
Income Tax
Capital Gains Tax on Property Sales in India: Your Essential Guide
Selling property is a major financial decision, and understanding the tax implications is crucial for anyone involved in real estate. Under the Income-tax Act, 1961, capital gains tax can significantly affect your profits. Whether you've recently sold a property or are planning to, it's important to know how these taxes work.In this article, we’ll break down the … [Read more...] about Capital Gains Tax on Property Sales in India: Your Essential Guide
Comprehensive Guide to TDS on Interest Income: Section 194A
In India, Tax Deducted at Source (TDS) is a method the government uses to collect taxes directly from your income before you receive it. This applies to different types of income, like salaries, dividends, bonuses, commissions, and interest from deposits.Section 194A of the Income tax act, 1961, talks about tax to be deducted on interest payments. Interest payments … [Read more...] about Comprehensive Guide to TDS on Interest Income: Section 194A
Impact of Selling Listed Equity Shares on Your Tax Obligations
When it comes to investing in equity shares in India, knowing how selling your stocks affects your taxes is crucial. The taxation on equity shares depends on the duration for which you hold them and is classified into Short-Term Capital Gains (STCG) and Long-Term Capital Gains (LTCG).This guide will help you understand the tax rules for listed stocks and equity mutual funds … [Read more...] about Impact of Selling Listed Equity Shares on Your Tax Obligations
TDS on Payments to Contractors and Professionals: Section 194M
Since September 1, 2019, individuals and Hindu Undivided Families (HUFs) must deduct Tax Deducted at Source (TDS) under Section 194M when paying over ₹50 lakh to contractors, professionals, or for commissions and brokerage within a financial year. The deduction occurs at the time of payment or when the amount is credited, whichever happens first. Under Section 194M, a 2% … [Read more...] about TDS on Payments to Contractors and Professionals: Section 194M