Income Tax on gifts received from parents, son, daughter, friends, family, relatives: Not many of us are aware that some of the gifts received on festivals, if not reported properly, may draw the taxmen's ire.
Revised Income Tax Return: Investments made in schemes like Senior Citizen Savings Schemes (SCSS), National Savings Certificate (NSC), Sukanya Samriddhi Yojana (SSY), Public Provident Fund (PPF) etc. are eligible for deductio
How to read an Income Tax notice under Section 143 (1) ?? The income tax intimation notice informs the taxpayer whether the income tax calculation given by him in the ITR matches with that of the tax department, basis the inf