[ad_1] If a person is claiming capital gains exemption, he is required to deposit the money in the capital gains account before the due date of filing ITR. This article explains in detail about how to open a capital gains account, its tax benefits and features. For example: Mr. A sold a residential property in […]
Shanghai moves towards ending 2-month COVID-19 lockdown
[ad_1] Shanghai officials say they will take some big steps Wednesday toward reopening China’s largest city after a two-month COVID-19 lockdown that has choked the national economy and left millions of people at large. locked up in their homes. In a daily news conference on the city’s outbreak, Vice Mayor Zong Ming said on Tuesday […]
Unemployment, Retirement, and Reporting | tax policy center
[ad_1] Tune in this afternoon for TPC Prescription: Talking Unemployment Benefits Reform with Michelle Evermore. The deputy director of policy at the U.S. Department of Labor Office for Unemployment Insurance Modernization will speak with TPC’s Howard Glickman about efforts to streamline and improve unemployment insurance systems. Register and Tune Here, Yellen lowers expectations, Treasury Secretary […]
Extension of Interest Equalization Scheme on Pre and Post Shipment Rupee Export Credit for exporters
[ad_1] RBI circular no. RBI/2021-22/180 DOR.STR.REC.93/04.02.001/2021-22 continue on 8th March 2022 Expands interest equalization scheme for rupee export credit before and after shipment From 1st October, 2021 and 31. will endscheduled tribe March 2024 or till next review, whichever is earlier. The Interest Equalization Scheme for providing Rupee Export Credit before and after shipment to […]
Capital gains tax on sale of property in India in 2022
[ad_1] Capital gains tax on sale of property in India is levied on the basis of the period for which the property was with the seller. If the asset was held for less than 2 years – it will be classified as short term capital gain and if the property was held by the seller […]
Former BJP MLA who gave up his seat for Yogi Adityanath in the party’s Rajya Sabha from UP
[ad_1] Former BJP MLA Radha Mohan Das Agarwal, who left Gorakhpur urban area to contest the recent Uttar Pradesh assembly elections to contest Yogi Adityanath, has been nominated by the party for the Rajya Sabha elections. Agarwal had represented Gorakhpur Urban in the UP assembly elections from 2022, but made way for Adityanath in the […]
Ukraine aid, school taxes and federal prison
[ad_1] Ukraine’s aid passed through the Senate $40 billion in emergency aid The package approved by the Senate right on time. The Pentagon almost ended its funding for sending weapons to Ukraine. Eleven Republicans opposed the measure. The House passed the bill last week. There is no offset involved. Schumer and Manchin Are Talking Expenses […]
Amendment in existing FDI policy
[ad_1] The Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, vide its Press Note No. 1 (2022 series) has amended the FDI policy to allow investment in Life Insurance Corporation of India (LIC) and provide clarifications on various . The highlights of the major amendments introduced through the Press Note […]
The standard deduction for employees | With Automated Income Tax Arrears Relief Calculator U/s 89(1) for the F.Y.2022-23 and A.Y.2023-24
The deductions in the Income Tax Law give taxpayers a reason to smile because they help reduce tax liability. One of those fun provisions for salaried people in IT law is the “standard deduction.” As its name implies, a standard deduction allows you to deduct a certain amount from your gross wages so that your total taxable […]
Capital Gain Tax Exemption in 2022
[ad_1] Capital Gains Exemption can be claimed under the Income Tax Act by reinvesting the amount in either purchasing/ constructing a Residential House or by reinvesting the amount in Capital Gain Bonds. The seller of the asset either has the option to claim exemption or pay 20% Long Term Capital Gains Tax. (Refer: Computation of […]