by CA Chinmay Shirish Agate | May 21, 2024 | Taxation
The Capital Gain Account Scheme (CGAS) in India is a tax saving investment provision offered by the Income Tax Act, 1961, to enable taxpayers to save on capital gains tax arising from the sale of assets like property or securities for a particular timeframe. It...
by CA Chinmay Shirish Agate | May 21, 2024 | Taxation
Reporting Goods and Services Tax (GST) details in income tax returns in India is crucial for businesses that are registered under the GST regime. One crucial aspect is reporting GST details in income tax returns. Understanding this process is essential for businesses...
by CA Chinmay Shirish Agate | May 21, 2024 | Taxation
Investing in a property has always been a dream of every individual, but it is very often that these individuals are unaware of the tax benefits they might enjoy with investing in a property. Sections 54 and 54F of the Income Tax Act provides exemptions from tax to...
by CA Chinmay Shirish Agate | May 21, 2024 | Taxation
While filing income tax returns for assessees having income from businesses, it is mandatory to follow certain guidelines as specified in the respective applicable acts. Business expenditures will be disallowed if such conditions are not fulfilled. One of such...
by CA Chinmay Shirish Agate | May 21, 2024 | Taxation
Co-operative society means a society registered under Co-operative Societies Act, 1912 or any other law in force in any State for the registration of co-operative societies. The Finance Act 2023 has introduced a new tax scheme under section 115BAE for the resident...
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