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Source: Live Mint The income tax department carefully monitors high-value cash transactions, so taxpayers should exercise caution when engaging in them. Section 269ST of the Income Tax Act prohibits receiving cash payments of ₹2 lakh or more in a single day for a single transaction or related transactions on a single occasion. If this limit…
Source: Live Mint The transition to October will bring multiple changes in rules and regulations related to income tax, Aadhaar Card, and TDS on mutual funds, rents, and futures and options (F&O). As only a few days are left in the arrival of October, know the key rules changing from next month. Aadhaar Card rule…
Source: Live Mint Starting October 1, 2024, significant changes will be implemented in the taxation of share buybacks, shifting the tax burden from companies to shareholders. Companies are taxed at 23.296 per cent on buyback transactions, covering surcharges and cess, while shareholders face no tax on the buyback proceeds. Under the new rules, buyback proceeds…
