If you haven’t made tax-saving investments by March 31, you can’t claim the exemptions. In such a case, opt for…
Exemption can be claimed in respect of tuition fee of only two children of the individual and the payments must…
Income from freelancing has to be reported under the head “Profits and Gains from Business or Profession”.
Foreign assets include foreign depository accounts, foreign equity and debt interest, foreign cash value insurance contract or financial interest in…
The government, vide Budget 2021,introduced new provisions under Section 206AB/206CCA that prescribe a double rate of TDS/TCS for those, who…
In a bid to reduce the burden of tax payments, one may consider it lawful to claim interest expense incurred…
Identifying the different categories of taxpayers, the Central Board of Direct Taxes (CBDT) has notified seven types of ITR forms…
Budget 2019-20: The limit should be raised from 100 per month to at least Rs 1,000 per child for maximum…
As a part of the project, data mining and Big Data analytics will be used to catch tax evaders by…
The one-time exemption on investing capital gains in two properties should be used only when the need arises to distribute…
Utilising tax deductions such as investments under Section 80C, NPS contribution, medical insurance, housing loan, taxpayers with gross income up…
There is no bar in keeping the cash in the bank lockers but it may attract investigation by the income…
The revised rules for application for allotment of PAN comes into force from December 5
Aadhaar was introduced by the government with the primary objective of providing unique identity to its residents so as to…
Tax incidence on a taxpayer in India depends upon his residential status.
For individuals and HUFs, ITR 1 to 4 are applicable, depending upon the source/nature of income. Understand the changes in…
The new ITR form requires taxpayers to provide detailed information of their income—break-up of salary and income from house property,…
At the end of every financial year, many taxpayers make investments to minimise taxes, without adequate knowledge of the various…
