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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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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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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.
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Deadline to File Updated Income Tax Return for AY 2020-21 is 31st March 2023
The Income Tax Return (ITR) for Assessment Year (AY) 2020-21 was required to be filed […]
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Last date to file Income Tax return for AY 22-23
31 December 2022, is the last day to file the belated and revised income tax returns (ITRs) for FY 2021-22 (AY 2022-23). Under income tax laws, an individual who has missed the last date to file an original income tax return can file a belated ITR.
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Thinking of buying property? Read this
According to the Income Tax Act, if you are buying immovable property other than agricultural land, and amount to be paid is more than Rs.50 lakh, then you have to deduct 1% TDS