Tax Returns: What To Keep In Mind
Filed your returns yet? Here are last-minute tax tips from the Mint Money team
Sold house in last 2 years? You may get both indexation benefit and lower 12.5% tax rate
The government has not made amendments in section 54, as a result of which a tax-saving opportunity has arisen for some property sellers
3 min read27 Jul 2024Selling property: Will your taxes skyrocket by 1,000% post Budget announcement?
Decoding real estate gains and losses under the revised long-term capital gains (LTCG) tax structureNew rules have no provisions of booking losses if the market value falls below the purchase price at a post-inflation basis
6 min read26 Jul 2024For property investors, one step forward and two steps back
The long-term capital gains tax on real estate has been slashed, but property sellers could still end up paying higher tax without the benefit of indexation, or adjusting for inflation.The removal of indexation has made real estate less tax-efficient, likely steering investors to other options.
4 min read24 Jul 2024Income Tax: How can you escape paying tax on ₹10 lakh in annual income?
For income up to ₹10 lakh, the old tax regime is generally more beneficial in terms of tax savings. This is because it provides a wider range of exemptions and deductions.
3 min read26 Jul 2024Donations, winnings from online gaming, previous bank accounts: ITR forms seek more disclosures
It's the right time to file ITR as your Annual Information Statement (AIS) must have been updated by now. However, you must know these changes in ITR forms.
4 min read20 Jun 2024Reporting foreign stocks Esops in ITR the right way
These assets are to be disclosed in Schedule FA every year
1 min read4 Jul 2024Tax FAQs for NRIs: Schedule AL, India-Germany DTAA decoded
Under the India-Germany DTAA, India has the source taxation rights for taxing capital gains derived from sale of Indian shares.
2 min read2 Jul 2024F&O, intraday and delivery trading: How different types of trading are reported in ITR
All types of trading income are to be reported in income tax returns, even when the taxpayer has made only losses. We give you a rundown of how the different types work
6 min read19 Jul 2024Why MNC employees with Esops are on taxman’s radar
Employees have to report all stock options exercised by them in the income tax returns
6 min read21 Jun 2023Here's how to accurately declare assets in Schedule AL of your ITR
Taxpayers with incomes exceeding ₹50 lakh must declare their assets in Schedule AL of ITR forms 2 or 3, including immovable property, financial assets, and liabilities
5 min read17 Jun 2024Wait for it…
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