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Tax on Foreign Stocks, Mutual Funds and Real Estate

Jan 7, 2023

One can spread out your risks not only in terms of asset classes but also across geographies, as many Indians have started doing. But one should be aware of the Tax rates too as Tax rates on gains made on the sale of equity shares listed abroad, for instance, are...

Updated ITR, ITR U: What is it? How to file it?

Jan 5, 2023

If you have missed December 31 deadline for filing your belated tax return or revising your filed ITR, then you have the option to file an updated ITR, ITR-U, under Section 139(8A) with some penalty and extra tax. An updated ITR, is an updated return that allows you...

Top 8 Tax-Saving Instruments To Add In Your Portfolio

Nov 30, 2022

Almost every taxpayer is on the hunt to arrange their finances in a way that helps them save taxes. If you are one of them, know that there are options that act as tax-saving instruments that you can purchase. While their core benefits may differ, these products can...

New draft Common Income Tax Return Form

Nov 5, 2022

At present, depending upon the type of person and nature of income,  taxpayers are required to furnish their Income-tax Returns in ITR-1 to ITR-7. Income Tax Department, proposes to introduce a common ITR by merging all the existing returns of income except ITR-7....

How to Prevent an ATO Audit

Oct 21, 2022

Unfortunately, not every individual does what’s right when it comes to dealing with tax returns. To ensure everything remains on track, the ATO reaches out to over two million taxpayers yearly to assess their review, even though not all of them will be subjects...
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