Understanding Taxation on Online Income in India: A Comprehensive Guide
In today’s digital age, online platforms have become a significant source of income for many individuals. From freelancers and bloggers to affiliate marketers and online trainers, earning a living through the internet has never been more accessible. However, with the growing popularity of online earnings, it is essential to understand […]
A Complete Guide to Taxation of Income from House Property
Owning a house is more than just a milestone; it’s also a doorway to various tax benefits under the Income Tax Act. Whether you reside in your home, rent it out, or own multiple properties, the taxation rules for income from house property differ based on its usage. These rules apply to residential […]
A Complete Guide to Section 10 of the Income Tax Act: Exemptions You Should Know
Exemptions work a big favor where saving on taxes is involved. Perhaps one of the key sections of the Income Tax Act, 1961, is Section 10. It grants a comprehensive set of incomes that are completely or partly exempt from taxation. By utilizing these exemptions, taxpayers have the option of […]
How to Use Tax Harvesting to Maximize Mutual Fund Returns
Tax harvesting is a smart way to reduce the taxes you pay on your mutual fund returns. By using your losses from poorly performing funds to offset gains from profitable ones, you can lower your overall tax bill. In 2024, this strategy can help you keep more of your earnings. […]
How to Save Tax on Capital Gains from Selling a Residential House
Selling a house can be a big financial decision, and it often involves paying taxes on the profit you make. However, there are ways to reduce or even avoid paying these taxes by using the exemptions provided under Section 54 and Section 54EC of the Income Tax Act. This blog explains […]
Demystifying ESOP Taxation in India: A Comprehensive Guide
Employee Stock Option Plans (ESOPs) have become a popular way for companies to reward employees by giving them a share in the company’s success. But to truly benefit from ESOPs, it’s essential to understand their tax implications. Let’s break down ESOP taxation in India in a simple way. What are […]
Budget 2024: How Your Equity & Debt Investments are Taxed Now
The Union Budget 2024-25 brought some major changes in how capital gains are taxed. These changes especially impact how mutual funds are taxed, creating a bit of confusion, especially with hybrid funds. While we’re still waiting for official guidelines from the Income Tax department, we’ve gathered information from fund houses […]
What is Income Tax Return?
Every citizen of India has to pay tax on their income to the Government of India as per the Income tax rules and regulations. Whether you are an individual, association or a firm, LLP, local authority or a Hindu undivided family, your income for each financial year is taxed in accordance […]
Tax on Mutual Funds
Mutual Funds are typically regarded as one of the most profitable investment options because they help you easily reach your financial objectives. The fact that mutual funds are tax-efficient investment vehicles is one of their most significant benefits. Your investment in a Mutual Fund may yield tax-efficient returns. However, you might […]
How to Maximize Tax Benefits on Charitable Donations in India
Charitable donations not only allow you to contribute to important causes but also offer significant tax benefits under India’s Income Tax Act. Here’s a simple guide on how you can claim deductions on charitable contributions: Section 80G: Deductions on Donations to Charitable Institutions Section 80G of the Income Tax Act […]