The income tax slab rates differ between the old and new tax regimes. Furthermore, the old tax regime divided the slab rates into three categories. What Is Income Tax Slab? Individuals in India are taxed based on a slab system,…
Section 112A of Income Tax Act is a section that deals with the tax on long-term capital gains from the sale of certain assets like: These assets should be held for more than one year to be considered as long-term…
The Indian government has introduced taxability regulations for virtual digital assets through the Finance Bill 2022, effective from April 1, 2022. This article explores the tax consequences arising from the transfer of virtual digital assets by assesses. Understanding Virtual Digital…
Discover the game-changing Annual Information Statement (AIS) introduced by the Income Tax Department for individuals and Hindu Undivided Families (HUFs). This comprehensive article unveils the key points and benefits of AIS, replacing the previous Form 26AS. Get ready to simplify…
