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The implementation of the Goods and Services Tax (GST) marked a significant transformation in India's taxation system. Initially proposed in 2000 under Prime Minister Atal Bihari Vajpayee, a committee was established to assess its feasibility. The idea was formally introduced in Parliament in 2006, with an initial target launch date of April 1, 2010. However, [...]

Selling agricultural land in India involves considerations of capital gains tax, but specific exemptions and strategies can help mitigate tax liability. This guide explains the tax provisions and methods to save taxes on capital gains from the sale of agricultural land, with a focus on recent amendments and exemptions. Budget 2024 Updates Key amendments effective [...]

Key Budget Update: For cases where PAN is not provided, the TDS rate on the taxable portion of EPF withdrawals has been reduced from 30% to 20% in the 2023 budget. The Employees' Provident Fund (EPF) is a retirement savings scheme designed for salaried individuals. Both employees and employers contribute 12% of the employee's basic [...]

Relocating overseas for enhanced career opportunities and a better lifestyle is a decision many professionals and employees take together. This transition often raises various financial considerations, including the status of your Employee Provident Fund (EPF) account as a Non-Resident Indian (NRI). This article provides an in-depth guide on NRI PF withdrawal, covering tax implications, withdrawal [...]