High Capital Gain Tax
A detailed calculation showing how LTCG reduction without indexation is not good news for people. “Suppose you bought an apartment in January 2009 for Rs 50 lakhs. Fifteen years later, you sold it today for Rs 1.5 crore. With indexation, the Rs 50 lakhs you paid 15 years ago is considered to be worth Rs […]
GST Update
GST Update. The GST Council has recommended extending the deadline for availing input tax credit (ITC) on any invoice or debit note under Section 16(4) of the CGST Act. This extension applies to any GSTR 3B return filed for the financial years 2017-18, 2018-19, 2019-20, and 2020-21, with the new deadline deemed to be 30.11.2021. […]
7 Things to Keep in Mind While Filing Your ITR
### *By CA Dhwanik Shah & Co.* ### **1. Review Your AIS (Annual Information Statement)** Ensure all your income sources and high-value transactions are correctly reflected and match with your actual records. — ### **2. Carry Forward Capital Losses (STCG/LTCG)** Report short-term and long-term capital losses on time to carry them forward for future tax […]