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In the recent Budget 2024, one of the many proposals announced by Finance Minister Nirmala Sitharaman is the removal of the indexation benefit on long-term capital assets. Since real estate properties are big purchase items, these assets would be significantly impacted. The new rules will also be applicable even for purchases made earlier without any […]

Income-tax Return (ITR) Forms 2 and 3 include a Schedule FA for reporting foreign assets, income, beneficial interest and signing authority. This schedule is widely regarded as one of the most complex sections to fill in the ITR form. Introduced to combat tax evasion and money laundering, Schedule FA has been a mandatory component of […]

In Budget 2024, the first budget in a decade presented by a coalition government, Finance Minister Nirmala Sitharaman announced several proposals that change the existing tax treatment for almost all asset classes. Top among them is the taxation on equity shares and mutual funds. Sitharaman also proposed a few tweaks to the new tax regime […]

It is critical for traders and investors to file their taxes, whether they made a profit or a loss. People often think that they don’t need to file taxes if they’ve made losses, but that’s not true. We also understand that filing your taxes might seem difficult, so we have created reports on Console to […]

1. How is dividend income received from my equity shares and mutual funds taxed? Any dividends you receive from your stock investments and mutual funds are taxable at slab rates and are reported under the head ‘income from other sources’. If your dividend income exceeds ₹5,000, the entity paying you is required to deduct a […]

I have capital gains on the sale of equity shares and mutual funds I bought in 2020. Which ITR form should I choose, and where should I report these gains in the ITR? For listed domestic shares and mutual funds, if the holding period exceeds 12 months, the gains are considered long-term. Since the shares […]

Filing Income Tax Returns (ITR) can be challenging, especially for stock market traders involved in different segments such as Futures & Options (F&O), intraday trading, and delivery-based trading. So here’s a step-by-step guide if you want to file the ITR yourself. Step 1: Go to the e-filing portal > File ITR > Select assessment year […]

India is one of the top countries with the largest diaspora residing in nations like the UAE, the US, and Saudi Arabia. We all have that one friend or a relative living abroad who regularly sends money back to India for family maintenance, investments, medical care, education, and more. Such inward remittance is governed by […]

I have a salary income. I incurred capital gains because I sold some mutual fund units in FY 23-24. I trade once in a while (not a regular trader). I have neither gains nor losses from my trading activity. What ITR form should I use? Individuals with salary and capital gains income are required to […]

You may have heard that setting up a Hindu Undivided Family (HUF) could help save taxes. In this blog, we discuss this in detail. There are fairly low barriers to setting up an HUF—any Hindu (including Jain, Buddhist, and Sikhs) can do so. Only the state of Kerala has abolished the concept of the joint […]

Yes. Indian taxpayers can avail of the tax exemption under section 54F of the Income-tax Act against gains earned from selling foreign shares or ETFs if the money is utilised to buy or build a new residential house, provided the house is located in India. This means they won’t have to pay capital gain tax […]

Whether you’re a seasoned trader or just starting out, understanding the taxation of trading income can make a significant difference in safeguarding your hard-earned capital. In this article, we’ll delve into the intricacies of income tax for traders, shedding light on how understanding the taxation of trading income can make a significant difference in safeguarding your hard-earned capital.

Whether you’re a seasoned investor or just starting out, understanding the tax implications of your investments is crucial for making informed financial decisions. In this blog post, we’ll help you understand everything about income tax for investors.

In the year 2020, the government introduced a new tax regime under which taxpayers can choose to pay tax at lower rates. In this article, we compare old and new tax regimes, and help you understand which one could be more beneficial for you by discussing the differences in tax rates, deductions, and exemptions.

Why should investors and traders pay advance tax? Paying taxes is often seen as an annual ritual during the filing of Income Tax Returns (ITR). In reality, it’s a continuous process, and one aspect of this process that often goes unnoticed is advance taxes. Since the deadline for 3rd instalment of advance tax is approaching […]

Imagine you have diligently filed your Income Tax Return (ITR), well before the deadline, but still receive an income tax notice from the Income Tax Department (ITD). A lot of investors and traders face this situation every year. So we decided to highlight common mistakes that people make while filing their ITR, knowingly or unknowingly. […]

Happy Diwali everyone, if this festive season you are looking to gift something to your loved ones, we think stocks, ETFs, and bonds are the perfect gifts, and they are quite literally gifts that keep on giving. They are also a great way to introduce your loved ones to investing and capital markets and in […]

अगर आप ट्रेडर है तब आपको tax ज़रूर फाइल करना चाहिए, चाहे आपको प्रॉफिट हुआ हो या फिर लॉस। ज़्यादातर लोग ये समझतें हैं की अगर उन्हें लॉस हुआ है, तब उन्हें tax फाइल करने की कोई ज़रूरत नहीं है, लेकिन ऐसा सोचना गलत है। आपको इसके लिए भी नोटिस मिल सकता है। हम जानतें […]

As a trader, it’s extremely important to file your taxes, regardless of whether you made a profit or loss. Most people assume that just because they’ve made losses, it’s not necessary to file taxes, but that’s a mistake—you may get a notice from the Income Tax Department regardless of that. We also understand that filing […]

Traders, If you hold stocks or mutual funds in your portfolio that have unrealised losses, you can set off these losses against realised profits, on which you have to pay taxes. To do this, you can book the losses, effectively reducing the realised gains and hence also reducing the tax payable. This act of booking […]

Traders, If you hold stocks or mutual funds in your portfolio that have unrealised losses, you can set off these losses against realised profits on which you have to pay taxes. To do this, you can book the losses, effectively reducing the realised gains and hence also reducing the tax payable. This act of booking […]

It’s that time of the year when all of us have to sit down and plan our income tax returns. The last date to file your income tax returns for FY 2019-20 is December 31st, 2020, and traders need to file their Income Tax Returns (ITR) on time. Here’s why: the income tax department has […]

Edited: 1st Feb 2022 after the budget announcement that surcharge on LTCG (Long term capital gain) of unlisted companies to be capped at 15%. Overall LTCG for unlisted companies now drops from 28.5% to 23.92%.  We get a lot of credit for bootstrapping Zerodha and building the business without raising professional money. I have always […]

Traders, If you hold stocks or mutual funds in your portfolio that have unrealised losses, you can set off these losses against realised profits on which you have to pay taxes. To do this, you can book the losses, effectively reducing the realised gains and hence also reducing the tax payable. This act of booking […]

Traders, If you are investing or trading, you would need to declare your profits and losses for the financial year (FY) while filing your income tax returns (ITR). All equity investments under the head of capital gains, intraday equity trading as a speculative business, and derivatives trading as non-speculative business income. Check out the Varsity […]