Tax Payment for Overseas Investors Without an Indian Bank Account As an overseas investor who has sold shares in an Indian company, you are required to pay capital gains tax on the income from the transaction. If the buyer did not deduct tax at source (TDS), the responsibility to pay the tax falls on you. … Read more
A ₹1.87 Lakh Mistake: Are You Losing Money on Your Property Sale? Selling a property? You could be making a costly mistake that’s quietly draining lakhs from your pocket. Sujit Bangar, the founder of taxbuddy.com, shared a real-life example of a taxpayer who nearly overpaid their capital gains tax by ₹1.87 lakh, simply by failing … Read more
Decoding Long-Term Capital Gains Tax for ITR 2025 (FY 2024-25) Taxpayers who sold capital assets, such as property or jewellery, during the financial year 2024-25 (Assessment Year 2025-26) are liable for capital gains tax. Significant changes to these provisions, effective July 23, 2024, streamline holding periods and introduce new tax rates. Understanding Long-Term Capital Gains … Read more
The recent Budget 2024-25 has significantly altered the tax landscape for Non-Resident Indians (NRIs selling property in India. Previously, NRIs enjoyed an indexation benefit for long-term capital gains (LTCG), which adjusted the purchase price for inflation, reducing taxable gains. This benefit has now been removed for property sales occurring on or after July 23, 2024. … Read more
Did you miss India’s July 23rd tax rule change? You might be overpaying capital gains on your ITR 2025! If you’ve sold a house, shares, gold, or other capital assets recently, especially during the Financial Year 2024–25, pay close attention. A major shift in India’s capital gains tax structure, introduced by the Finance (No. 2) … Read more
As a retired senior citizen in India, navigating your taxes, especially with income from interest and capital gains, can feel like a maze. Let’s simplify how your tax would be calculated for the Financial Year 2024-25 (Assessment Year 2025-26), keeping your specific income in mind. Your Income Breakdown You’ve got a mix of income sources: … Read more
Selling property and looking to dodge that hefty 12.5% capital gains tax? Many rush to 54EC bonds, thinking it’s a smart, safe move. But what feels like a savvy tax hack could silently cost you lakhs in lost returns over five years. The 54EC Lure: A Closer Look Under Section 54EC, you can invest up … Read more
Important Tax Alert for Retail Investors: Capital Gains Can Now Erase Your ₹7 Lakh Tax Exemption New Delhi: A critical update to the Income Tax Return (ITR) utility, effective July 23, 2024, means that the widely publicized “zero tax on income up to ₹7 lakh” under the new tax regime is no longer universally true … Read more
Understanding how capital gains tax applies to your mutual fund investments is crucial, especially when filing your Income Tax Return (ITR) for FY2024-25. Many taxpayers find this area confusing due to the different types of funds and holding periods. Let’s break down what you need to know. Key Changes for FY2024-25 The Union Budget 2024 … Read more
Tax-savvy investors now have a greener option: bonds issued by the Indian Renewable Energy Development Agency (IREDA) are officially designated as “long-term specified assets” under Section 54EC of the Income-tax Act, 1961. This means that, effective July 9, 2025, investing in IREDA bonds can help you gain an exemption from capital gains tax, while simultaneously … Read more