Tax planning is a crucial component of personal finance, enabling taxpayers to minimize liabilities while complying with legal obligations. With significant changes introduced by the recent Finance (No. 2) Act 2024, understanding how to optimize tax planning for the Financial Year (FY) 2024-25 (Assessment Year 2025-26) is essential. In this article, we will discuss effective … Read more
I am 45 and I have invested in 5 new fund offers in July and August. How are NFOs taxed? Is there are changes introduced in Union Budget 2024? Name withheld on request How much tax do I have to pay? Calculate now Reply by CA (Dr.) Suresh Surana The taxation of NFOs, like other … Read more
The Central Board of Direct Taxes (CBDT) on Tuesday clarified that all Indian citizens are not required to obtain an income-tax clearance certificate (ITCC) before travelling to other countries. The statement was issued after an amendment was made to the Income Tax Act 1961 through the Finance Bill 2024, wherein the Black Money Act has been … Read more