But first check if your employer allows encashment of leaves.
Both co-owners must show payment proof for their share in the house.
An NRI can expect to get only 70-80% of the sale proceeds due to this
In Budget 2023, the finance minister extended the option of presumptive taxation scheme to those professionals with gross receipts of…
Check the withholding tax rate imposed by the foreign country
Gift provided by the employer to their employee is taxable as a perquisite under the head ‘income from salary’. However,…
Section 245 empowers the income tax authorities to adjust any previous year’s demand with the refund amount due to the…
While the pre-filled data makes it easy to file the ITR, the task of verifying and updating the data is…
If an assessee uses the wrong ITR form, the return file will be considered a defective return and may trigger…
An assessee cannot claim credit for TDS on large cash withdrawals under Section 194N in Form ITR 1 even if…
The Budget has further corrected inadvertent drafting errors, brought clarity, and aligned the provision with the intent of the section.
The tax department has consistently sought to disallow expenses incurred by a taxpayer towards gifts provided to business associates.
THE government’s decision to demonetise R500 and R1000 otes has caused a lot of concern and unrest among peoplec. Everyone…
A common misconception is that the tax department cannot monitor everyone and you may escape the tax department’s radar. However,…
With the popularity and value of cashbacks increasing, it is important to analyse the tax implication of these cashbacks in…
Income tax returns filing: Any discrepancies in filling the electronic form may corrupt the ITR utility and make the filing…
