Direct Tax

8

Aug

Direct Tax, NGOs/Trusts & Societies

Paying Extra Tax for Earning a Rupee More? Marginal Relief to the Rescue

The Indian Income Tax Act is designed not just to collect revenue but to do so equitably. Among its lesser-known but highly beneficial provisions is Marginal Relief – a safeguard for taxpayers whose income slightly breaches a surcharge threshold, leading to disproportionately high tax outgo. In this blog, we break…

7

Aug

Share Trading Income-Business Income or Capital Gains?

One of the most frequent questions from stock market participants:Should your share trading income be taxed as Business Income or Capital Gains? This decision impacts:Tax Rate – Slab rates vs concessional 12%/15%Return Filing – ITR-3 (business) vs ITR-2 (capital gains)Compliance – Books of accounts, tax audit applicability Key Principles to…