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Client Background A Mumbai-based individual, who was a tax resident of Singapore, had invested in Indian equity and debt mutual funds over the years. During the relevant financial year, she redeemed and sold these investments, resulting in substantial short-term capital gains. While filing her Indian…
Section 6(1A) of the Indian Income Tax Act, 1961 was introduced by the Finance Act, 2020, and is applicable from the Assessment Year 2021-22. It addresses the issue of stateless individuals (those not liable to tax in any country) and ensures that Indian citizens with significant income in India are…
About the Case This case study highlights the journey of Karan, an IT professional and Futures & Options (F&O) trader, who successfully navigated a complex income-tax assessment for FY 2022–23 with the expert support of CA Mitesh and Associates. In the ever-evolving and intricate landscape…