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Important Tax Updates for NRIs and OCI Card Holders Buying and Selling Property in Goa
This blog post focuses on recent amendments affecting Non-Resident Indians (NRIs) and Overseas Citizenship of India (OCI) card holders buying and selling property in the state. We’ll delve into tax implications, income tax return filing processes, and the importance of voluntary compliance.
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What Goan NRIs, OCI card holders should remember before buying properties in Goa?
Most news papers in Goa reported on 11th June 2024 about relaxation in procedures by Government of Goa for NRIs, OCI card holders and some other categories while buying properties in Goa.
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Who should choose new tax regime and who should choose old tax regime in 2024. Explain with simple illustations.
Choose the Old Tax Regime if you can fully utilize deductions under Section 80C, 80D, home loan interest, and other exemptions. This regime is beneficial for individuals with high deductions and those who are comfortable with detailed tax planning. Choose the New Tax Regime if you prefer simplicity, cannot maximize deductions, or if the lower…
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Unlocking Income Tax Secrets: Your Guide to Navigating Gifts from Relatives!
Unlocking Income Tax Secrets: Your Guide to Navigating Gifts from Relatives!
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Save your thousands of Rupees using marginal tax relief.
Marginal tax relief is a provision that ensures individuals crossing into a higher tax bracket by a small margin don’t end up paying a disproportionate amount of tax on that excess income
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Payments to MSMEs
If you don’t pay an MSE within the stipulated time, the amount you owe becomes ineligible for tax deduction in the current financial year.
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Ticking Clock! File Your FY 2022-23 Income Tax Return Before December 31st (Avoid Tax Time Tears!)
The clock is ticking, fellow taxpayers! If you haven’t filed your income tax return (ITR) […]
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How much tax does Kaun Banega Crorepati winners pay?
n addition, a surcharge of 10% is applicable on the winning amount if the amount is more than Rs. 10 lakh
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Taxpayers Beware! Up to 200% Penalty for Faking Rent Receipts
Taxpayers who submit fake rent receipts in order to claim a deduction for house rent allowance (HRA) could face penalties of up to 200% of the tax that would have been payable if the deduction had not been claimed.