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Moving to the UAE? Your Indian Tax Residency Depends on Days, Not Documents Many Indians moving to the UAE assume that obtaining a residence visa, Emirates ID, tenancy contract, or opening a UAE bank account automatically makes them a non-resident for Indian tax purposes. However, these documents only establish where you live. They do not …
ICAI vs. ICMAI: Who will do the statutory audit eligibility? The Ongoing Debate on Statutory Audit Eligibility: ICAI vs ICMAI: Professionals, regulators, and industry stakeholders continue to debate who should be eligible to conduct statutory financial audits in India, making it one of the most discussed issues in the accounting profession. The debate focuses on how …
Guide on F&O Turnover Calculation for ITR Filing (AY 2026–27) One of the most misunderstood aspects of income tax compliance for traders is the calculation of futures & options turnover. Many traders incorrectly assume that turnover means the total value of contracts purchased or sold. However, for income tax and tax audit purposes, turnover is …
ITR FILING DEADLINE 2026 AY 2026–27: Are You Ready? Income Tax Return Filing Deadlines for AY 2026–27 in India. ITR FILING DEADLINE 2026 AY 2026–27.. Deadline Calendar 2026 Key Dates taxpayer Can’t Miss. lists important ITR-related due dates: Date Applicable To 31 July 2026 Salaried individuals, pensioners, ITR-1 & ITR-2 (No Audit) 31 August 2026 …
Income Tax Return AY 2026-27: Reporting of Non-Taxable Receipts Made Easier For AY 2026-27 (FY 2025-26), the income tax Dept has introduced a significant disclosure change in the ITR utility. A new disclosure field “Receipts not in the nature of income” has been introduced under Schedule EI (Exempt Income) to Other Incomes. The earlier residual …
Analysis of the Tax Regime Comparison Chart compares the old tax regime vs. the new tax regime for salaried taxpayers and highlights how choosing the wrong regime can significantly increase tax liability. Following are Tax Comparison Table Gross Salary Old Regime Tax New Regime Tax Tax Saving Under New Regime INR 10 Lakh INR 59,800 …
ITR Guide to Capital Gains: Reporting Equity and Debt Investments in ITR How to Report Equity and Debt Capital Gains in ITR Taxpayers with capital gains from shares, equity mutual funds, debt mutual funds, or bonds should generally use ITR-2 (or ITR-3 if they have business/professional income). Capital gains must be reported under Schedule Capital …