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ITR forms include an AY since the revenue for a certain FY is computed and taxed in the evaluation year, which is the following year. Thus, we now have a clear and understandable summary of Financial Year and Assessment Year, along with their definitions and other key points. Understanding the terms used in taxes is a good start because financial literacy is crucial in the modern world.
𝐋𝐚𝐭𝐞𝐬𝐭 𝐔𝐩𝐝𝐚𝐭𝐞𝐬 𝐢𝐧 𝐏𝐅 & 𝐄𝐒𝐈𝐂, & HR related Judgement and update 🚨 Staying updated on the latest developments in… Read More
Retrospective Amendment on ITC for Construction Costs What’s Changing : A retrospective amendment, effective from July 1, 2017, prevents entities—like… Read More
NPS: Extending Your Tax-Exempt Limit Beyond INR 12,00,000/-. In Budget 2025, Finance Minister Nirmala Sitharaman announced a no-tax limit for… Read More
Liberalized Remittance Scheme (LRS) & TCS Changes in Budget 2025 The Union Budget 2025 has introduced key adjustments that affect… Read More
Which Regime is More beneficial New/ Old: Budget 2025 The Most Asked Question after Budget 2025 i.e Question: Which Regime… Read More
Tax on LTCG for FIIs raised to 12.5%: Budget 2025 This increase in the LTCG tax rate for FIIs from… Read More