India

direct-tax-collections

Zone Wise Direct Tax Collection in India FY25: Regional Revenue Patterns and Economic Insights

Introduction The zone wise direct tax collection in India FY25 presents a fascinating landscape of economic activity and revenue generation across different regions. Understanding these patterns provides crucial insights into India's economic geography, business concentration, and regional development dynamics. The latest data reveals significant variations in tax contributions, with Mumbai maintaining...

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tax-rebate

Section 87A Rebate from Special Rate Incomes in New Tax Regime: A Comprehensive Analysis for FY 2023-24 & FY 2024-25

Introduction: Understanding the Section 87A Rebate Controversy The Section 87A rebate from special rate incomes in the new tax regime has emerged as one of the most contentious issues for taxpayers in FY 2023-24 and FY 2024-25. This comprehensive analysis explores the complex landscape where legal provisions clash with administrative implementation,...

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ITR-filing

Complete Step-by-Step Guide to Fill FSI, TR, and FA Schedules in ITR Filing 2024-25

Introduction Filing Income Tax Returns (ITR) with foreign income and assets requires careful attention to three critical schedules: FSI (Foreign Source Income), TR (Tax Relief), and FA (Foreign Assets). These schedules are mandatory for Indian tax residents who have earned income from outside India, paid taxes abroad, or hold foreign assets....

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understanding-54f-exemption

What is the 54F exemption?

If you have ever sold a financial asset, you must have paid CGT, the Capital Gains Tax. Acquiring a financial asset is the goal of most people who consider financial planning as an important aspect of life. When you do successfully acquire an asset that appreciates, any profits that you...

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