#AY 24-25

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 […]

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 […]