506 articles on Income Tax, authored by the Finin2min editorial team. Page 8 of 13.
Normally, claiming tax exemption on Leave Travel Concession (LTC) requires you to actually travel and submit travel bills. The LTC Cash Voucher Scheme…
When a business is sold as a whole, undertaking and all, for a single lump-sum price without putting a separate value on individual assets, the tax law treats…
As a proprietorship grows, many owners eventually convert it into a private limited company for limited liability, easier fundraising and a more credible…
Almost every salaried employee at some point uses a company laptop, a work phone, or gets to keep an old company device after an upgrade. Whether any of this…
Not every ESOP grant ends with a payday. Options can lapse unexercised, vested grants can be forfeited when you leave a company before a cliff, and sometimes a…
The Post Office Monthly Income Scheme is popular with retirees and conservative savers for its steady monthly payout and government backing. But many investors…
Many employees of Indian subsidiaries of multinational companies get the option to buy shares of the foreign parent company at a discount through an Employee…
Property deals fall through more often than buyers and sellers like to admit, and when they do, the earnest money or token advance the seller had collected…
An individual inventor, author or creator who monetises a patent or copyright can find the income falling under any of three different tax heads, capital…
When an Indian athlete wins an Olympic medal, the cash rewards that follow come from multiple sources, government schemes, state governments, sports…
A sudden large deposit in your bank account, an investment that does not match your declared income, or jewellery found during a search that you cannot account…
Selling jewellery that has been in the family for decades raises a question many people get wrong: what is the cost for tax purposes when you yourself paid…
Medical emergencies that require treatment abroad bring both a health crisis and a financial one, often involving large foreign currency remittances. Two…
When partners decide to wind up a firm, or even when a single partner retires and takes assets in settlement of their capital account, the firm itself can end…
Members of the Indian Armed Forces, while subject to the same broad income tax framework as other salaried individuals, are entitled to a set of specific…
Many investors hold old paper share certificates inherited from parents or bought decades ago, often before demat accounts existed. Converting these into…
Whether a director is paid through salary, sitting fees, or a professional fee arrangement changes which TDS section applies, which ITR head the income falls…
A landlord who rents out a fully furnished flat, a shop with fixtures, or a factory shed along with machinery, often receives one combined rent cheque every…
A one-time settlement with a bank can feel like a fresh start, but the portion of the loan that gets waived is not automatically tax-free. Whether it counts as…
A plot of land bought years ago as an investment, later used by its owner to launch a small real estate development venture, does not need to be sold to an…
Crowdfunding platforms have made it easy to raise money for a creative project, a medical emergency, or an early-stage business idea. But the Income Tax Act…
Losing a job is stressful enough without having to figure out whether the compensation you receive on the way out is taxable. Retrenchment compensation gets a…
An airdrop that lands free tokens in your wallet feels like a windfall, and from a tax perspective, that is exactly how it is treated, twice over. Once when…
Years after booking a flat, many homebuyers finally get possession along with a cheque for 'delay compensation', sometimes under a builder-buyer agreement…
Many buyers book a flat in an under-construction project and, before it is even built, decide to sell their booking to someone else through a nomination or…
Renting out a spare parking slot in your apartment complex or a godown attached to your factory seems like simple rental income, similar to renting out a flat…
For decades, interest earned on your Employees' Provident Fund balance was simply tax-free, full stop. That changed a few years ago for high earners, and the…
A car is one of the few valuable things most people own that almost always loses value over time, which is exactly why nobody worries about capital gains tax…
An employer offering to fund an employee's executive MBA, a professional certification, or a specialised training programme sounds like a pure win for the…
Many salary structures include a basket of 'reimbursement' components, medical bills, fuel, telephone, books and periodicals, that employees assume are…
If your PAN has become inoperative because it was never linked to Aadhaar, the consequences go well beyond a vague compliance warning. It can mean tax deducted…
A mobile tower or a small solar installation on a corner of your land can mean a steady monthly cheque for years. Before that income gets bundled into 'rent'…
Getting a tax refund with a little extra interest tacked on feels like the rare occasion the tax department pays you. But that interest component is itself…
Domain flipping, selling an established blog or a monetised YouTube channel, or exiting a small online business entirely, these are increasingly common ways…
A PAN is meant to be a permanent identifier, the 'P' literally stands for Permanent, but the details linked to it, your name, address, date of birth spelling…
Most of our coverage of cross-border taxation looks at it from the perspective of Indian residents earning abroad. This article flips that around: when a…
Every SIP instalment you invest creates a separate 'lot' of units, each with its own purchase date and price. When you redeem only part of your holding, the…
A gift hamper around Diwali, a gift card for a festival, or a small token given on a work anniversary all feel like goodwill gestures rather than 'salary'. But…
A parent transferring shares to an adult child, or a grandparent gifting mutual fund units to a grandchild, is usually a tax-free event at the time of the gift…
Someone who owns a generator, a JCB, or factory machinery and rents it out when not in use is earning income that does not fit neatly into the house property…