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Is money received from friend taxable in India?

1) Gifts up to Rs 50,000 in a financial year are exempt from tax. For example, if you receive Rs 50,000 from one friend as a gift and Rs 25,000 from anoth...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

What is a settlement conference order?

A settlement conference is a meeting in which a judge or magistrate assigned to the case presides over the process. The purpose of the settlement conferen...

Can you write off interest on hard money loan?

Although a personal loan is not tax deductible, other private money loan resources do qualify. The interest that you pay on mortgages, student loans, as w...

What can you use to help you budget your finances?

How to budget money Calculate your monthly income, pick a budgeting method and monitor your progress. Try the 50/30/20 rule as a simple budgeting framewor...

Can I take my private pension at 50?

Once you’ve had your 55th birthday you’ll be allowed to release money from your personal or workplace pension. You can withdraw up to 25% of your pot tax-...

Are refinance rates usually lower than purchase rates?

Usually, refinance and purchase rates are the same but during a refinance boom the rate on refinances may become higher than the rate on purchases. How lo...

What is the federal tax rate for foreign owned corporations?

Tax Considerations for Foreign-Owned U.S. Corporations After 2017 Tax Act Following the enactment of the 2017 Tax Act, foreign-owned U.S. corporations are...

How many years can I carry forward capital losses?

5 years For a corporation, capital losses are allowed in the current tax year only to the extent of capital gains. A net capital loss is carried back 3 ye...

Can partnerships file consolidated tax returns?

A partnership may not be included in a consolidated return, even if it is 100% owned by members of an affiliated group, since a partnership is not a corpo...

When to move back in with your parents?

Moving back in with your parents as an adult is always tricky. But, moving back in with your parents when you’ve passed your 30-year mark? Well, that take...