March, 2024 - My Tax Support

Residential Status of Companies in India: A Complete Guidance

Residential Status of Companies in India Indian Companies: An Indian company is always considered resident in India. It doesn’t matter where it is controlled from or where its major shareholders reside. If a company is incorporated in India, it is automatically

Residential status for Hindu Undivided Families (HUFs): Complete Guidance

Residential Status of HUF The residential status of an HUF depends on its place of control and management and the residential status of its Karta (the head of the HUF) during the previous year. Here are the key categories: Resident HUF:

Residential Status for Individuals in India: A Complete Guidance

Residential Status for Income Tax – Individuals & Residents The residential status of an individual plays a crucial role in determining their tax liability. It is essential to understand the different categories of residential status: Resident and Ordinarily Resident (ROR): An

Type of Capital Gains: Tax Calculation on Capital Gain

What is Capital Gain? Capital gain refers to the profit earned from the sale of capital assets such as equity shares, debentures, mutual funds, and other investments. It is calculated by subtracting the purchase price (including any associated expenses)

Ensuring Timely Payments to MSMEs: A Guide to Section 43B(h) of the Income Tax Act

Section 43B(h): Section 43B(h) was introduced by the Finance Act of 2023 and came into effect from the assessment year 2024–2025, which corresponds to the Financial Year 2023-24. This clause primarily deals with deductions related to payments owed to

Maximizing Your HRA Deduction: Tips and Important Points

HRA stands for House Rent Allowance. It is an allowance provided by employers to employees to meet their rental expenses for accommodation. HRA is a component of salary and is included in the total salary structure of an employee.

Month: March 2024

Residential Status of Companies in India: A Complete Guidance

Residential status for Hindu Undivided Families (HUFs): Complete Guidance

Residential Status for Individuals in India: A Complete Guidance

Ensuring Timely Payments to MSMEs: A Guide to Section 43B(h) of the Income Tax Act

Maximizing Your HRA Deduction: Tips and Important Points

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Month: March 2024

Residential Status of Companies in India: A Complete Guidance

Residential status for Hindu Undivided Families (HUFs): Complete Guidance

Residential Status for Individuals in India: A Complete Guidance

Type of Capital Gains: Tax Calculation on Capital Gain

Ensuring Timely Payments to MSMEs: A Guide to Section 43B(h) of the Income Tax Act

Maximizing Your HRA Deduction: Tips and Important Points

Explore

Contact

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