Introduction Foreign remittance plays a significant role in the global economy, enabling individuals and businesses to transfer funds across borders. However, recent changes in tax regulations have introduced a new requirement known as the 20% TCS (Tax Collected at…
Trading in futures & options must be reported as a business in ITR unless you have only a few trades (say if only 2-3 trades) in the financial year.
As we are aware that under normal circumstances, tax is levied upon the person, who has earned income. The income tax considers him/her as assessee and income tax will be levied on all income he has earned in previous…