Diksha Garg

What are Major Changes with Faceless Assessment? Will it Actually Help Taxpayers or Add Any Woes? 2 min read

• Income Tax

What are Major Changes with Faceless Assessment? Will it Actually Help Taxpayers or Add Any Woes?

Diksha Garg 3 weeks ago

Every administrative department of the government is on the road to digitalization. Old practices are now being done online to achieve efficiency, and optimally utilize... Read More

What High Value Transactions are Reported to the Income Tax Department? 2 min read

• Income Tax

What High Value Transactions are Reported to the Income Tax Department?

Diksha Garg 4 weeks ago

 With the increase in instances of transactions in higher denominations, the Income Tax Department is working in solidarity with other government departments to trace those... Read More

Will Faceless Assessments Reduce Taxpayer Harassment? 3 min read

• Income Tax

Will Faceless Assessments Reduce Taxpayer Harassment?

Diksha Garg 4 weeks ago

The taxpayers have always expressed their concern over the power vested with the assessing officers, which in many cases has led to corruption and harassment.... Read More

Adjust Capital Gains Against Basic Exemption Limit to Reduce Income Tax 2 min read

• Income Tax

Adjust Capital Gains Against Basic Exemption Limit to Reduce Income Tax

Diksha Garg 4 weeks ago

It is necessary to understand the basic terms related to income tax: What is Capital Gain? The Excess income from the sale or exchange of... Read More

Capital Gain in Conversion of Capital Asset into Stock in Trade 2 min read

• Income Tax

Capital Gain in Conversion of Capital Asset into Stock in Trade

Diksha Garg 4 weeks ago

According to Section 45(2) of the IT Act, when an assessee converts a capital asset into stock-in-trade of his business, it is considered as a... Read More

Allowances, Exemptions and Deductions under Income Tax Act for Salaried Individuals 2 min read

• Income Tax

Allowances, Exemptions and Deductions under Income Tax Act for Salaried Individuals

Diksha Garg 2 months ago

The contribution of salaried employees towards the overall tax collection is quite significant owing to their large numbers. Allowances and deductions allow them to reduce... Read More

Should you be Investing in an Annuity? 2 min read

• Income Tax

Should you be Investing in an Annuity?

Diksha Garg 2 months ago

An annuity is one of the stipulated tax-saving tools that allow one to reduce his taxable income, and further the tax liability. However, lower returns,... Read More

Which is Better Old vs New Income Tax Regime? 4 min read

• Income Tax

Which is Better Old vs New Income Tax Regime?

Diksha Garg 2 months ago

if you are investing more than 175,000 in various items eligible for deduction, you must stick to Old Tax Regime, New Tax regime is only good for those, who do not intend to invest in any tax saving option... Read More

Trust Formation and its Taxability in India 3 min read

• Income Tax

Trust Formation and its Taxability in India

Diksha Garg 2 months ago

A trust is a relationship among three parties where a trustee/group of trustees holds some assets on behalf of a beneficiary. This relationship is formed... Read More

New Income Tax Arrangement: Queries Regarding the New Amendments 2 min read

• Income Tax

New Income Tax Arrangement: Queries Regarding the New Amendments

Diksha Garg 2 months ago

If you are working with an MNC in the present financial year 2020-2021 and your salary and earnings from investments add up to a round... Read More