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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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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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Tips where tax audit can be avoided
A tax audit can be a time-consuming and costly process for taxpayers, hence this topic
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No need to deduct TDS, while buying property if…
While rule is that TDS is to be deducted for consideration paid or payable for the property, there are several exemptions and exceptions.
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5 Tips to Avoid Income Tax Notices for Property-Related Transactions
If you are planning to buy, sell, or gift property in Goa, it is important to be aware of the income tax implications. By following these 5 tips, you can avoid income tax notices and penalties:
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Top Five Reasons Why Filing Income Tax Returns within the Due Date is Crucial
Filing Income Tax Returns (ITR) on time is important for taxpayers in Goa to avoid penalties and fines, interest on tax amounts due, and to avail various benefits such as revising returns and carrying forward losses.
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Maximize Your Tax Savings:
Maximize Your Tax Savings. In this article, we will explore ten important points to consider when filing your income tax returns under the old tax regime.