A short-term loss can be set off against both short-term and long-term gain but a long-term loss can be set…
Expenditure incurred on preventive health check-up for self, spouse, parents and dependent children is eligible for tax deduction of Rs…
The investment period in Section 54EC bonds for saving capital gains tax is within a period of six months from…
As per Section of Income-Tax Act 1961, only one house can be considered as a self-occupied property and the other…
If you are not able to sell the old property after one year from the date of purchase of new…
The application to settlement commission for settlement under Section 245C can be made at any stage of the case if…
For transfer of lease in case of death, the rental income will be taxed in the hands of the legal…
Short-term capital loss is allowed to be set off against both long-term and short-term capital gains.
Rule 4 of Senior Citizens Saving Scheme Rules states that any individual cannot deposit any amount more than what he/she…
As per Section 56(2)(x) of Income Tax Act, if the purchase price of a property is less than the stamp…
Kumar Deduction for tuition fees paid is allowed under Section 80C only if tuition fees is paid to university, college…
Form 31 is for withdrawal of PF upto a certain limit from contributions made in present job.
TDS shall be calculated on complete sale value and not just carpet area and car parking. Further, Central Board of…
Rebate under Section 87A is allowed only when total income does not exceed Rs 3,50,000.
The revised gratuity limit is applicable for retirement after March 29, 2018 and not before this date. Since you retired…
The income earned in the name of minor is taxable in the hands of the parents whose income is greater,…
Know how NRIs will fill up FSI & TR in ITR2 if claiming tax credit on foreign income..
Taxability of income as business income or other income depends upon regularity of transaction, volume of transactions and time and…
