Investing in property is a popular choice in India, whether for owning a home or making a profit by selling it later. However, it’s crucial to know that any profit from selling a property, or other assets like stocks and bonds, is subject to taxation under the “Capital Gains” category. Let’s break down what capital […]
What is Capital Gains Tax in India Read More »
When managing your taxes, understanding the rules around setting off and carrying forward losses is crucial. Here’s a simplified guide to help you navigate these rules: Intra-Head vs. Inter-Head Adjustments: Before adjusting losses against income from different heads, taxpayers must first adjust losses within the same head of income. Speculative vs. Non-Speculative Business Losses: Losses
Overview of Rules for Set Off and Carry Forward of Losses Read More »
Court: HIGH COURT OF CALCUTTA Citation: W.P.A. NO. 15304 OF 2024 Parties: Cart Infralog Ltd. v. Assistant Commissioner of CGST & CX Facts: The assessee, Cart Infralog Ltd., filed GSTR-3B returns late for the period December 2018 to March 2019, missing the deadline of 20th October 2019 and filing on 31st October 2019. An adjudication