ITR filing 2024: Taxpayers, it’s time to focus on one of the most crucial tasks: filing your Income Tax Return (ITR). The filing season for Income Tax Returns 2024 has begun, and meeting the July 31 deadline is crucial to avoid penalties. Filing your ITR for the financial year 2023-24 involves essential decisions if you’re…
ITR filing 2024: Taxpayers, it’s time to focus on one of the most crucial tasks: filing your Income Tax Return (ITR). The filing season for Income Tax Returns 2024 has begun, and meeting the July 31 deadline is crucial to avoid penalties. Filing your ITR for the financial year 2023-24 involves essential decisions if you’re…
What are the key differences between a springing power of attorney, which becomes effective upon incapacity, and a current power of attorney, effective immediately? What important factors should one consider when deciding on which type would best protect one’s assets and meet the estate planning goals? —Name withheld on request One should carefully consider the differences between…
Within this framework, family businesses have flourished, leveraging not just financial capital but also familial bonds and shared values to achieve success over generations. Alongside the benefits of familial collaboration come inherent challenges, particularly the complexities arising from cross-holdings and intergenerational dynamics within family-owned enterprises. These complexities can lead to disputes over ownership, management control,…
Venkateswaran (popularly known as Venkat) worked at HDFC Bank before moving to Banyan Tree Advisors, a PMS provider in Bengaluru,and expanding their business significantly. He launched Pygmalion Renaissance in 2018. By this time, many of his long-standing clients from his time at HDFC Bank and Banyan Tree wanted more holistic financial guidance. Today, Venkat’s firm…
Here’s a comprehensive guide on making informed decisions and avoiding legal or financial pitfalls during this transition. Understand your NRI status Once you’ve been out of India for 182 days or more in a year, you are considered an NRI. This change impacts your banking, taxation, and investments. You must update your status with your…
At the time of zeroing in on an investment advisor, investors often get carried away with the testimonials given on the websites of investment advisors. It’s not uncommon for an advisor to claim that one of his clients managed to earn a whopping (say) 30 percent return on the investment made, while another one could…
In the backdrop of inflation and high rates of tax, there is an urgent need for updating the tax slabs as well for enhancing the amount of deductions, says a BankBazaar Primer Budget ‘24. The report argues that since the new tax regime has failed to attract salaried taxpayers, there is an urgent need for…
Banks will remain closed today, July 17, in selected regions of the country on account of Muharram/Ashoora/U Tirot Sing day, according to the Reserve Bank of India (RBI) guidelines. Banks will remain closed in Agartala, Aizawl, Belapur, Bengaluru, Bhopal, Chennai, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, Raipur, Ranchi, Shillong, Shimla,…
Although a range of tax-related changes are introduced every year for taxpayers, a few key changes are ‘radical’ and occur only once every three or five years. The introduction of the ‘new tax regime’ is undoubtedly one such key change that is substantive, and will transform the way income tax is calculated and deductions allowed….
