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Source: Live Mint Money rule changes from April 1 2025: March 2025 is coming to an end, ushering the beginning of a new financial year from April 1. The financial year 2025-26 will start from April 1, affecting citizens and taxpayers across India. New income tax rule changes, credit card rule change, UPI rule change…
Source: Live Mint Though the announcement was widely welcomed, it failed to address a critical question – does income from capital gains affect a person’s eligibility for the rebate? In other words, if a person with a ₹12 lakh salary earns an additional ₹1 lakh from capital gains, will they lose the rebate or will…
Source: Live Mint Is long-term capital gain from the sale of jewellery taxable for an individual whose income is lower than the basic exemption limit? If yes, what is the rate of tax on such capital gains? Answer: Jewellery is treated as a capital asset, and any profit made from the sale of a capital…
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…
