Last Updated: June 2026 — FY 2025-26 (AY 2026-27) Under Section 194IA, the buyer of an immovable property (other than agricultural land) must deduct TDS at the time of payment if the property value is Rs. 50 lakh or more. TDS on Property Sale – Section 194IA (FY 2025-26) Detail … Continue reading
Income Tax Return filing last date is 31st july 2014 for non- Audit cases. There is lot of confusion among tax payers, which is the correct income tax form. Whether I should use ITR 1 or ITR 2. Who can use ITR 1 ITR–1 Form is to be used by … Continue reading
The Central Board of Direct Taxes (CBDT) has specified a value for the cost inflation index (CII) for 2014-15. A cost inflation index helps reduce the inflationary gains, thereby reducing the long-term capital gains tax payout for a taxpayer. Last year, the index was ‘939’, and this year it is … Continue reading
Last Updated: June 2026 — FY 2025-26 (AY 2026-27) ITR-2 is used by individuals and HUFs who have income beyond salary and cannot use ITR-1. Who Should Use ITR-2 for FY 2025-26? Income exceeding Rs. 50 lakh Capital gains from shares, mutual funds, or property More than one house property … Continue reading