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Source: Live Mint Remember, not all tax-saving allowances are created equal. Some more than others can provide substantial tax benefits, significantly impacting your take-home salary and tax outgo. According to chartered accountant Vijaykumar Puri, partner at VPRP & Co. Llp, the first critical step is understanding your salary structure. “The key is ensuring all allowances…
Source: Live Mint I have worked outside India for 12 years but I will be relocating back to India in April for a better employment opportunity at an MNC. I have one residential property in India from 2010 which I will sell and instead purchase a bigger one after I return. Approximately how much tax…
Source: Live Mint NEW DELHI : Artificial intelligence (AI) threatens to replace many jobs, especially in research and writing. However, the question of how reliable AI chatbots are remains. A recent tax order from the Bengaluru bench of the Income Tax Appellate Tribunal (ITAT) believed to have been based on ChatGPT research, is a case…
Source: Live Mint Selling a stock, bond, mutual fund, or real estate at a loss may feel like a setback, but it can actually work in your favor at tax time. The Income Tax Act allows taxpayers to use capital losses to offset gains, reducing their tax burden. Even if you can’t use the entire…
Source: Live Mint Budget 2025: Finance Minister Nirmala Sitharaman, in the Union Budget 2024, had proposed to revamp the Income Tax Act, 1961, to make it concise and easier to understand. It is expected that in the upcoming budget session on February 1, a new Income Tax Act may be proposed. The government may introduce…
Source: Live Mint Investing in US stocks allows Indian investors to own a slice of the world’s most influential companies, while global exchange-traded funds (ETFs) provide an avenue to diversify portfolios beyond domestic markets. While India’s mutual fund (MF) industry has hit the Reserve Bank of India’s $7 billion cap for overseas investments, platforms such…
Source: Live Mint Is it necessary to get the help of a professional estate planner? Engaging a professional estate planner, such as an estate planning attorney with specialized expertise in the field, is extremely important. These professionals provide invaluable guidance through the often complex and nuanced legal and financial aspects of estate planning. Their knowledge…
Source: Live Mint Rent can be an additional source of income for salaried individuals who have invested in property. While real estate as an investment may have its challenges in terms of liquidity and high capital requirement, rental income can complement one’s salary. However, rental income is taxed at the individual’s slab rate. But there…
Source: Live Mint The young financial analyst bought these properties with his savings from salary and a loan that he has already repaid. Sonthalia’s net worth runs into several crores of rupees, including liquid savings of about ₹1 crore, in all of five years of his career. Here’s what made this possible. Sonthalia works in…
Source: Live Mint Stock market losses are never pleasant—whether through direct equities or mutual funds—but they offer a rare silver lining: the potential to reduce your tax liability through capital loss set-offs. Here’s how savvy investors can use this to their advantage. Set-off against gains Capital losses can be set off against capital gains, allowing…
