The salary is taxable on the basis of “due” or “receipt”, whichever is earlier. Since he retired in February 2024, the entitlement of the leave was due to him from February 2024 onwards. While section 10(10AA) of the Income Tax Act, 1961 provides an exemption for “payment” for entitlement of leave received, one should read … Read more
On July 18, around 4.2 million of WazirX’s 16 million users suffered a massive attack on the cryptocurrency exchange, which wiped out 40-50% of their cryptocurrency balances. The majority of the affected users were Indian. However, in the month and a half since the $230 million attack, no legal or regulatory action has been taken … Read more
For most of us, securing our family’s future is a top priority. In addition to purchasing insurance and making investments, there is one more critical step in this: estate and succession planning to ensure that our family inherits our assets without delay, difficulty or confusion. However, this aspect is often neglected due to the anxiety … Read more
As September 2024 approaches, several key events are set to take place that will impact personal finances, with changes ranging from LPG cylinder costs to new credit card regulations. Staying up to date on these changes can help you manage your budget more effectively and avoid unexpected financial challenges. Here are the top five changes … Read more
I made a long-term capital gain (LTCG) from the sale of an ancestral urban farmland. How can I save taxes on those long-term capital gains? With respect to the sale of capital gains from agricultural land, which is taxable because it is not agricultural land and is not considered a capital asset for tax purposes, … Read more
I want to buy a property in the name of my husband and wife. The value of the property is more than 50 lakhs. The husband insists that the TDS on the proceeds from the sale of the property The tax will be deducted in your name and your name will be mentioned in Form … Read more
When you reimagine a cult classic, it’s only natural to compare it to the original, which was visually and aurally mind-blowing, and came with the baggage of the much-loved young action star’s accidental death in a story that resonates across generations. James O’Barr wrote the comic as a cathartic exercise, after he lost his fiancée … Read more
The all-India house price index (HPI) moderated to 3.3 per cent in the June quarter of 2024-25 from 5.1 per cent in the year-ago period, according to data released by the Reserve Bank of India on Friday. He Reserve Bank of India publishes transaction-level HPI-based data received from registration authorities in 10 major cities. The … Read more
Unified Payments Interface (UPI), which has become the world’s most popular alternative payment method (APM), processed transactions worth ₹80.8 lakh crore ($964 billion) in April-July 2024, a sharp year-on-year increase of 37% compared to the same period last year. Transaction metrics and global comparison UPI processed a staggering 3,729.1 transactions per second and 117.6 billion … Read more
The Mutual Funds Association of India (AMFI) recently laid down guidelines for fraudulent and pre-selling transactions. The AMFI move, which comes nearly a month after SEBI’s push in response to allegations of pre-selling against Quantitative MFIt is an attempt to tighten regulations to achieve greater transparency. Despite the proactive role of the market regulator, mutual … Read more
