📌 Understanding TDS Returns

A TDS Return is a quarterly statement containing critical details required for income tax compliance. Solutronix ensures this information is accurately reflected in your Form 26AS.

Who Should File?

• Companies and employers
• Professionals under tax audit (Section 44AB)
• Government departments
• Individuals deducting TDS on Salary, Interest, Commission, or Property transactions

📌 Tax on Long-term Capital Gain

In India, profits from the sale of assets held for more than 24 months are subject to long-term capital gains tax. The kind of asset and the relevant tax legislation determine the tax rate on long-term capital gains. If long-term capital gains exceed INR 1 lakh, long-term capital gains tax is currently assessed on listed assets at a rate of 12.5%. However, long-term capital gains will not be subject to taxation if securities transaction tax (STT) was paid on the acquisition and sale of the securities. The long-term capital gains tax rate for other assets, such as gold or real estate, is 12.5%, with an indexation advantage. This indicates that the asset's purchase price, adjusted for inflation, determines the tax rate.

📅 TDS Return Filing Due Dates

💰 Long-Term Capital Gains (LTCG) Tax

Profits earned from selling assets held for a longer period (Property, Shares, Mutual Funds, Gold) are taxed as LTCG.

How We Help You Save Tax:

• Section 54: Under Section 54, an individual or Hindu Undivided Family will be exempted from paying long-term capital gains tax if they sell a built-up house and use the capital gain to purchase or construct a new residential property.
• Section 54F: Under Section 54F, when an individual or a Hindu Undivided Family sells any capital asset other than a residential property and utilises the capital gain to purchase or build a house, then the total value will be exempted from taxes.
• Section 54EC: One can also follow Section 54EC to save on long-term capital gains tax by transferring the total amount to acquire bonds issued by NHAI and RECL. The list of these bonds is available on the official website of Income Tax Department of India.
• A capital gain account scheme allows an investor to enjoy tax exemptions without purchasing a residential property. The Government of India allows the withdrawal of funds from this account only to purchase houses and plots.