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Introduction:The 80GGC deduction under the Indian Income Tax Act allows for tax deduction on contributions made by Indian taxpayers to political parties or electoral trusts. In India, people usually support a political as per their political beliefs, however, this support…

Introduction:Buying a property of their own is a dream of almost every independent individual. But, this comes with various legal compliances on part of every buyer. This often creates confusion in the minds of people regarding how to fulfil these…

Introduction:High-value transactions in income tax typically refer to financial transactions or activities that involve significant amounts of money. These transactions are usually subject to closer scrutiny by tax authorities due to their potential impact on tax liabilities. These transactions are…

Hindu Undivided Family (HUF) is defined as a separate tax entity that consists of individuals lineally descended from a common ancestor and includes their wives and unmarried daughters. HUF is recognized as a distinct assessable entity under the Income Tax…

Demonetization period in the Indian economy is considered as one of the most significant event since government had undertaken an important step in curbing out the black money from the Indian market. The demonetization decision came with certain challenges for…

Introduction:Futures and options are derivative financial instruments that derive their value from an underlying asset such as stocks, indices, currencies, or commodities. These instruments are popular among investors and traders for hedging, speculation, and portfolio diversification. Talking in layman’s terms…

Maximizing deductions is a key strategy for saving money on taxes in India. By reducing the amount of taxable income, taxpayers can lower their tax liability and keep more of their hard-earned money. Income tax software can be a powerful…