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Cryptocurrencies, a revolutionary digital asset class, have gained significant traction globally, including in India. But what exactly are cryptocurrencies—are they a currency or an asset? The tax implications depend on this classification. In India, not all crypto transactions are taxed, but understanding which ones are, such as trading, mining, staking, gifting, or even airdrops, is […]

Dividend income is a key source of earnings for many investors, encompassing payouts from shares, mutual funds, and equity-linked investments. However, the tax implications of such income often spark questions. Under the old provisions, dividend income was largely exempt in the hands of investors due to the Dividend Distribution Tax (DDT) paid by companies, but

Income from other sources is a vital category under the Income Tax Act that includes earnings not covered under primary heads like salary, house property, or business income. One common inclusion is interest earned on savings accounts, which offers financial security and steady returns. The interest is calculated on the daily balance and credited periodically,

Income from profits and gains of business or profession is a critical aspect of taxation in India, governed by Section 28 of the Income Tax Act. This section serves as the cornerstone for assessing taxable income generated from trade, commerce, or professional activities. Whether you’re an entrepreneur running a startup, a seasoned professional offering specialized

When it comes to managing your finances and investments, understanding Capital Gains Tax in India is crucial. Whether you’re selling property, trading in mutual funds, or inheriting assets, capital gains tax impacts the net returns on your investments. In this guide, we delve deep into the intricacies of capital gains taxation, starting with the fundamentals

When it comes to taxation, understanding the nuances of Income from House Property is crucial for homeowners, landlords, and even salaried individuals. This category of income, governed by specific rules under the Income Tax Act, plays a significant role in determining your taxable income. Whether you own a self-occupied home or earn rental income from

In the context of taxation, income is classified under five major heads as per the Income Tax Act, 1961. One such head, Income from Other Sources, serves as a catch-all category for earnings that do not fall under the other specified heads of income. In this blog, we’ll explore what this head entails and which

The Annual Information Statement (AIS) is a significant development in tax compliance and transparency in India. Introduced by the Income Tax Department, AIS is a comprehensive summary of a taxpayer’s financial transactions for a particular financial year. This blog explores the key aspects of AIS, including its purpose, uses, features, types of information it contains,

Form 26AS is an essential document for taxpayers in India, offering a consolidated view of tax-related information. It plays a pivotal role in simplifying the process of filing income tax returns (ITR) and ensuring tax compliance. In this blog, we will explore: What is Form 26AS? The uses of Form 26AS Components of form 26AS

Tax Deducted at Source (TDS) is an integral part of India’s taxation system. It ensures that taxes are collected at the very source of income, thereby reducing tax evasion. Whether you’re an individual, a business owner, or a salaried professional, understanding TDS is crucial for managing your finances effectively. What is TDS? TDS is a