Selling property often brings the responsibility of paying capital gains tax on the profit earned. Fortunately, Indian tax laws provide exemptions under Sections 54, 54F, and 54B if the gains are reinvested in specified assets. However, many taxpayers find it challenging to reinvest their capital gains before filing their Income Tax Return (ITR). To address this issue, the government introduced the Capital Gains Account Scheme…
Succession planning is more than deciding who will take over your business or manage your wealth. It is about ensuring a smooth, efficient, and sustainable transfer of assets. Without proper planning, successions can lead to high tax burdens, liquidity challenges, and even family disputes. Tax-efficient succession planning helps avoid these issues by creating a well-structured approach that safeguards your wealth, ensures a seamless transition, and…
The 2025 Union Budget brings a major shake-up to the tax system, directly impacting individual taxpayers across the board. One of the most notable updates is the overhaul of the tax regime, designed to simplify taxation and give individuals greater flexibility in managing their finances. With streamlined tax slabs and fewer complexities, this reform aims to make tax filing easier while potentially reducing liabilities for…
As the year draws to a close, it’s the perfect time to pause, reflect, and assess the financial health of your business.
