Amit Maheshwari

Articles By Amit Maheshwari

68 Articles

Income tax returns (ITR) filing: How to get capital gains tax benefits on assets in own name

You can get capital gains tax benefit on investing proceeds in assets held in own name.

Income Tax, how to file tax reuturns

While buying property, here is what you can include in acquisition cost

Any expenses which are attributable to the purchase of property are allowed to be added in the cost of acquisition of the property.

stamp duty, freehold charges, fees paid, property acquisition, property acquisition cost, property tax, entry fees in society, index value, stamp duty

Income tax returns (ITR): Here is why you need to pay higher tax on other incomes

Income from agriculture is exempt under income tax. However, while computing the tax on total income, it has to be included as per a certain formula due to which the other incomes are taxed at somewhat higher rate though agri

Income tax returns (ITR) filing: Can prize money be taxed as income? Find out

Such prize money will be treated as income under Section 56 of the Income-tax Act and shall be classified as ‘Winning from Lotteries, etc.,’ Hence, U/S 115BB, such income shall be taxed at 30% (plus applicable surcharge a

Income tax, ITR, ITR filing, Income Tax return, Income Tax returns filing

Income tax returns filing: How to get savings account interest rate deduction of up to Rs 10,000

A deduction under Section 80 TTA up to Rs 10,000 can be claimed against savings account interest, which means that any interest income on savings bank account over and above Rs 10,000 will become taxable.

Income tax, returns filing, Income tax returns filing, Income tax returns, document proof, taxable amount, tax deduction

Are gifts from maternal grandparents liable to income tax? Find out

Gifts received by a person from his/her relatives who are lineal ascendants and lineal descendants do not attract income tax, explains Amit Maheshwari.

income tax, inxome tax returns, filing income tax, how to file income tax, personal finance, gifts from grandparents, gifts and income tax

Money given to spouse does not attract income tax

My wife has a salary income of Rs 10 lakh a year on which she pays tax. Apart from that, I deposit Rs 25,000 every month into her account from my account for household expenses. Will she have to pay tax on the money that I de

Money given to spouse does not attract income tax

Income tax returns filing: Is immovable property part of income of recipient? Find out

Immovable property received by way of inheritance is not considered as income of the recepient

Income tax returns, filing, immovable property, income of recipient

HRA exemption: Can deduction be claimed if rent paid to parent? Find out here

As per the provisions of Income-tax Act, 1961, HRA exemption can be claimed only if the rent is actually paid for the accommodation occupied by you and you should not be the owner/partial owner of the property.

HRA exemption, Income-tax Act, rent agreement, ETF, capital gains, taxability of capital gains, Gold Exchange Trade Funds, PFC infrastructure bonds

Income Tax returns: How to claim deduction of up to Rs 10,000 from savings bank account interest

Under section 80TTA, a corresponding deduction of such interest income up to Rs 10,000 shall be allowed and hence it shall not form part of the income to this extent.

Income Tax: No TDS on NPS maturity proceeds

My National Pension System (NPS) investments will mature next year as I will turn 60. Will PFRDA deduct TDS on the maturity proceeds?

Here’s how to link PAN card with Aadhaar card on Income Tax website incometaxindiaefiling.gov.in

How to link your PAN card with Aadhaar card? Here are easy steps you should follow. Also, July 01 is not the last date to link PAN Card with Aadhaar card.

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Budget 2016: Tax changes would make REITs a reality

Union Budget 2016: Some unresolved issues like stamp duty and capital gain tax may prove to a roadblock, but the DDT exemption could turn out to be a game-changer for REITs.

Real estate showing revival, home buyers going for 1 BHK and Studio apartments

Tax: Why it is important to report your foreign assets and income

Under the I-T Act, 1961, taxpayers are broadly categorised as Ordinary Resident, Not Ordinarily Resident (NOR) and Non-Resident (NR).

Income Tax Calculator, Budget 2019, How to Calculate Income Tax


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