ITR filing: Taxpayers with foreign income or assets must disclose them by December 31, 2024, to avoid penalties under the Income Tax and Black Money Acts. The Income Tax Department has outlined the necessary steps for taxpayers to meet this obligation. Previously, the Income Tax Department underscored the significance of reporting assets held overseas or income … Read more
There is a significant discussion surrounding the intersection of divorce and financial management for couples who decide to separate. Divorce costs can be substantial, particularly for the ultra-wealthy, where settlements may amount to millions or even billions of dollars. However, middle-class couples, especially those facing “grey divorces” in later life, can also feel significant financial … Read more
ITR filing 2024: The deadline for individuals to submit their Income Tax Returns (ITR) is July 31, 2024, which is just a little over a month. It is essential to compile and organise pertinent documents such as salary or income records, bank statements, and previous tax returns in preparation for filing. When filing taxes, it … Read more
ITR FY2024: P2P Lending or Peer-to-Peer Lending is one of the upcoming and somewhat most trusted ideas to earn passive income. P2P lending, also known as social lending, is an innovative financial model that has seen considerable growth in recent years. This approach provides individuals with an alternative means of securing funds without the need … Read more
By Vivek SinghIncome tax, by its very nature, is based on a delicate social contract between the government and the taxpayer. Complexity of tax laws, high element of discretion in tax administration, and undue focus on search, seizure and probe have sometimes disrupted this social contract and made the process of tax collection somewhat adversarial … Read more