Suraj Nangia

Articles By Suraj Nangia

59 Articles

Explained: Is EPF withdrawal taxable if service is not for 5 years continuously?

Whenever a property is sold in India, the seller makes capital gains which are taxed as income in his/her hands.

Explained: Is EPF withdrawal taxable if service is not for 5 years continuously?

PPF account and NRIs: Here is what Public Provident Fund rules say

Non-Resident Indians (NRIs) are not eligible to open an account under the provident fund scheme as per Rule 3 of the Public Provident Fund Scheme.

PPF, PF account, PPF account, PPF rules, public provident fund, provident fund rules, NRI PF accounts, NRI PPF Accounts

Income Tax queries: How to save LTCG tax

The capital gains so compu-ted are then charged to tax at applicable rates (20%). Any gain on sale of a capital asset other than a residential property shall be exempt under Section 54F, in full, if the entire sale proceeds

Income Tax, Income Tax queries, LTCG tax, commercial office property, Transfer of Property Act

Income Tax: No LTCG exemption if new house construction starts 2 years before date of transfer

To claim tax exemption on capital gains arising from transfer of residential property, taxpayer has to invest capital gains either for purchase of another residential house property within one year before or two years after d

ltcg exemption, how to save tax, how to save tax on ltcg, tax saving tips

Income tax returns (ITR) filing: If your tax dues are over Rs 10,000, here is what you should do

Advance tax is calculated by estimating the current year income and then applying the tax rates in force. TDS is also deducted to arrive at advance tax liability.

Income tax, Income tax returns, ITR, Income tax returns filing, tax dues, advance tax, TDS, tax liability, annual tax 

NRIs do not need to link pension account in India with Aadhaar

As per gazette notification of Ministry of Finance, resident individuals are required to provide Aadhaar number for linking all their bank accounts before March 31, 2018.

Karnataka cabinet, Aadhaar, Karnataka cabinet approves bill, unique identification scheme, Parliament, T B Jayachandra

Why you need to submit your travel bills to claim LTA-Everything explained here

The employer will allow the deduction/ exemption only if proofs are furnished by the employee.

LTA, all about LTA, why one need to submit travel bills, india, CGAS, latest news on LTA, Finance Act, recent amendments to the Finance Act, HRA, bills for travel

Income Tax: Why you should invest LTCG in specified bonds within six months of asset sale

Capital assets includes jewellery and sale of jewellery will be subject to tax under the head “Income from capital gains”. The gain on jewellery sales are taxed as long term or short term capital gains depending on the ho

Income Tax, invest LTCG, LTCG, tax, bonds, asset sale, income tax return, bonds, National Highways Authority of India, Capital Gains Account Scheme, gold jewellery 

Income tax returns (ITR) filing: What is tax liability on sale of housing society flat

My housing society has been allotted land. My share is 200 sqmtr, which I want to sell after registration at the prevailing circle rate.

Income Tax Returns (ITR) filing: Demat accounts and capital gains tax; see how transfer of shares works

Transfer of shares from one demat account to another of same person has no tax implication

Income Tax Returns, Income Tax Returns filing, Demat accounts, capital gains tax

Property market in India: What is joint development agreement and what triggers income tax liability

Under a typical joint development agreement, land owner contributes his land and enters into an arrangement with the developer to develop and construct a real estate project at the developer’s cost.

Property market in India,  joint development agreement, income tax liability, income tax, Joint Development Agreements, JDA, land owner

Income tax returns (ITR): On sale of property, here is what you should know

Once your return is processed and an intimation is issued under section 143(1), the refund shall get processed and paid into your bank account mentioned in your ITR.

Income tax returns, ITR, sale of property, property sale, tax liability, PAN, IT department, income tax e filing portal, income tax

Income tax returns filing: No tax on gift received from relatives in form of cash

Capital gains on debt mutual funds are chargeable to tax depending upon your period of holding.

Income tax returns filing alert: Taxman can even attach your bank accounts; know why

An individual domiciled in India traveling outside India, is required to file an intimation with the tax authorities furnishing his PAN, purpose of visit and estimated period of stay.

Income tax, Income tax returns, Income tax returns filing alert, Taxman, bank accounts

GST impact on employees: How employer, staff relationship has got complicated

The GST laws have tried to address several ambiguities that prevailed under earlier tax laws leading to unnecessary litigation.

GST, GST impact, input tax credit

GST impact on online shopping, tax breaks: All you to know about the changed rules in 7 brief points

On July 1, India moved on to a new era of taxation with the rollout of Goods and Services Tax (GST). It has now subsumed 17 central and state indirect taxes and 23 cesses into a single tax regime.

gst, gst impact, online shopping, gst impact on online shopping, gst impact on tax breaks

How to avoid mistakes while filing income tax returns; 5 points to know

Due to lack of knowledge and fear that a mistake in income tax returns (ITR) may entail interest, penalty and even prosecution, people prefer to file their tax returns through professionals.

income tax, income tax returns, how to file income tax returns, filing income tax returns, ITR, No tax liability, tax liability, debt funds, Form 16, what is Form 16, e-filing acknowledgement

Draft rules for ITAT aim for speedier disposal of tax appeals

The Income Tax Appellate Tribunal (ITAT) is the highest fact finding authority and the only specialised tribunal to decide on disputes between a taxpayer and the income tax department.

ITAT, tax rules, disposal of tax appeals, Income Tax Appellate Tribunal, income tax department, increase in tax disputes, pendency of appeals, e-filing, Appellate Authority, international taxation, pendency of appeals

Income tax returns: Good news – no tax on notice period pay cut

The Ahmedabad bench of Income Tax Appellate Tribunal has recently held that since an employee receives salary after deduction of notice period pay, only actual salary received is taxable

Preventing tax exemptions abuse: Changes in laws will make charitable trusts transparent

A trust is considered charitable if the object of the trust is directed to the benefit of the community or a section of the community and not for an individual or group of individuals.

Budget 2017: Arun Jaitley must stimulate real estate demand; 5 top changes that can power up sector

REAL estate sector is one of the biggest employment generating sectors in India and accounts for a large portion of employment in the unorganised sector.

Budget 2017: Income Tax incentives likely to offset demonetisation pain

The Indian economy was growing at a rapid pace, with a GDP growth of around 7.6%, and with the introduction of GST was expected to grow at even a faster rate.

Income tax benefits: Here’s how you can give so you can get back

There are many schemes of the government which make it possible to avail income tax benefits and donations to religious and charitable institutions stand among one of them.

income tax, income tax return, income tax filing, income tax filing online, income tax efiling

Going abroad for employment? Check out the taxation rules first

TAXABILITY of an individual in India is based on the source of income as well as residential status. Residential status is determined on the basis of one’s physical presence in India during the financial year gone by.

Income-tax returns: 6 essentials to keep in mind while filing

The due date of filing income tax return is soon approaching. Accordingly, it is very important for the tax payer to keep in mind these few essentials while filing income tax return.

Income tax return

Tax Talk: New law to set India’s realty sector in order

Real estate is the single-largest investment people make in India. The sector is largely unregulated and the worst hit are home buyers.

Tax Talk: New law to set India’s realty sector in order
Income Tax Calculator, Budget 2019, How to Calculate Income Tax


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