STCG

₹7 Lakh Tax Exemption Gone? New ITR Rules Hit Retail Investors with Capital Gains

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₹7 Lakh Tax Exemption Gone? New ITR Rules Hit Retail Investors with Capital Gains

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

Warning to Indian Investors: Is Your “Profit” Really Tax-Exempt

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Warning to Indian Investors: Is Your “Profit” Really Tax-Exempt

“₹7 lakh in trading gains, ₹74,000 tax hit.” Sounds like a bad dream, right? For thousands of Indian investors, it’s a brutal reality. Many are learning the hard way that a profit under ₹12 lakh doesn’t automatically mean tax exemption. Sujit Bangar, founder of TaxBuddy.com, recently highlighted a case that perfectly illustrates this common pitfall. … Read more