If you paid more tax than your actual tax burden during a fiscal year, you may be entitled to an income tax refund upon completing your income tax return (ITR) for that year. Nevertheless, you will not get your income tax refund until the tax department analyses your ITR and sends you an indication letter.… Read more
All about Taxation in India
While direct taxes are charged on taxable gains made via the use of individuals and business organizations, the burden of deposit taxes falls on the assessees. Oblique taxes, on the other hand, are collected on the sale and provision of items and services, with the burden of collecting and depositing taxes falling on the dealers rather than the assessees directly.… Read more
About Tax on Commercial Property
It cannot be stressed that commercial real estate is a costly proposition since you have a chance of gaining the double benefits of capital price appreciation and predictable month-to-month income via leases. However, there are few notable differences between residential and industrial dwellings in terms of obtaining tax benefits.… Read more
What exactly is Land Tax?
When intending to buy a land/plot or a developed property, it is essential to consider extra charges like stamp duty and registration fees to properly handle money. Land tax, on the other hand, is a regular expenditure that is paid bi-annually or annually. As a result, it must be completely comprehended before making a real estate commitment.… Read more
All About Section 115BAC New Tax Regime
During his Budget 2020 address, India’s Finance Minister announced the addition of a new section 115BAC to the Income Tax Act of 1961. Section 115BAC of the Income Tax Act becomes effective in FY 2020-21, and it provides a new and non-obligatory gains tax system for HUFs and individuals.… Read more
