Neha Malhotra

Articles By Neha Malhotra

40 Articles

Tax Talk: More tax sops for expenses on education needed

Exemption can be claimed in respect of tuition fee of only two children of the individual and the payments must necessarily be made to a university, college, school or any other educational institution situated within India.

Tax Talk: Know how to compute tax on income from freelancing

Income from freelancing has to be reported under the head “Profits and Gains from Business or Profession”.

income tax, freelance income, taxable income, taxes

Your money: Got foreign assets? You have to file income tax return

Foreign assets include foreign depository accounts, foreign equity and debt interest, foreign cash value insurance contract or financial interest in any entity outside India.

Income Tax Returns

Tax Talk: Is it possible for tax deductors to verify if payee has filed ITR in last 2 years?

The government, vide Budget 2021,introduced new provisions under Section 206AB/206CCA that prescribe a double rate of TDS/TCS for those, who despite having a reasonable amount of TDS accruing, do not file income tax returns.

Capital gains: Including home loan interest in cost of acquisition?

In a bid to reduce the burden of tax payments, one may consider it lawful to claim interest expense incurred on acquisition of residential property as a part of cost of acquisition while computing capital gains.

tax, income tax

ITR Filing 2019: Filing income tax returns for FY 2018-19? Here is all you need to know

Identifying the different categories of taxpayers, the Central Board of Direct Taxes (CBDT) has notified seven types of ITR forms for each class of taxpayer

income tax return last date, income tax return 2019-20 last date, how to file income tax return 2019 online, Filing of ITR, cbdt, due date for filing of ITR, salaried taxpayers

Budget 2019: Centre should raise limit for Children Education Allowance to benefit middle class income tax payers

Budget 2019-20: The limit should be raised from 100 per month to at least Rs 1,000 per child for maximum two children.

Budget 2019-20, Budget 2019 India

Income tax evaders beware; govt to keep tabs on your social media profiles

As a part of the project, data mining and Big Data analytics will be used to catch tax evaders by accessing the information on their Facebook and Instagram accounts to identify mismatches between spending patterns and income

Income Tax: Claim capital gains tax benefit on sale of house judiciously

The one-time exemption on investing capital gains in two properties should be used only when the need arises to distribute the property amongst your children.

Painless taxation: How to reduce your income tax outgo with Budget 2019 provisions

Utilising tax deductions such as investments under Section 80C, NPS contribution, medical insurance, housing loan, taxpayers with gross income up to `9.25 lakh will not have to pay any tax

Unaccounted cash in bank locker? Taxmen may knock at your door

There is no bar in keeping the cash in the bank lockers but it may attract investigation by the income tax department. Tax officials may require explanation to understand the source of every receipt or property

Are you aware of these new PAN rules? All you need to know

The revised rules for application for allotment of PAN comes into force from December 5

Aadhaar linkage mandatory for PAN & filing ITR, not for bank accounts

Aadhaar was introduced by the government with the primary objective of providing unique identity to its residents so as to discourage the emergence of any duplicate or bogus identity.

Explained: How your residential status determines tax incidence 

Tax incidence on a taxpayer in India depends upon his residential status.

tax incidence , residential status, residence based taxation system, india, RNOR, Income Tax Act, DTAA

Income Tax Return filing: Pick right ITR form based on your performance; here’s how

For individuals and HUFs, ITR 1 to 4 are applicable, depending upon the source/nature of income. Understand the changes in ITR and their impact, so as to prepare better for the tax filing season.

income tax, income tax deposit, income tax filed, income tax assessment, income tax return, income tax filed, GST, goods and service tax, unified tax, tax returns, tax payment, economy

ITR forms AY 2018-19: Brace for more income disclosure requirements

The new ITR form requires taxpayers to provide detailed information of their income—break-up of salary and income from house property, thereby limiting the reasons for further scrutiny assessment.

ITR forms AY 2018-19, income tax form, income tax return, gst

Tax-saving investments on financial needs, goals – All you want to know

At the end of every financial year, many taxpayers make investments to minimise taxes, without adequate knowledge of the various available options.

tax, income tax, income tax returns, tax saving investments, financial needs, tax saving instrument

Black money, benami property crackdown: Centre turns to tech to catch tax evaders

Tax evasion is not a modern concept since it traces its origins back to when the concept of taxation emerged in Kautilya’s book ‘Arthashastra’ which refers to different types of taxes and punishments as a countermeasure

tax evasion, crackdown over tax evadors, government new plan to catch tax evadors

Income Tax returns (ITR) filing: Rights and obligations of taxpayers have to be balanced; how this impacts compliance

Low tax compliance is a matter of serious concern in developing countries, limiting the capacity of their governments to raise revenues for developmental purposes.

Income Tax, Income Tax returns, Income Tax returns filing, ITR, ITR filing, Rights and obligations of taxpayers, tax administrations, low taxpayer base

Can’t carry forward losses due to late filing of return? Apply to local tax authority for relief

The Income Tax Act provides that losses can be carried forward only if the return has been filed within the time prescribed under the Act.

income tax return, local tax authority

Rs 2 lakh cash transactions ban: Here is all you need to know about the move against black money

In order to address the issue of black money, the government banned cash transactions of Rs 2 lakh and above starting April 1, 2017. Any amount over Rs 2 lakh will have to be paid by account payee cheque, bank draft or electr

Rs 2 lakh cash transactions ban: Here is all you need to know about the move against black money

Income tax returns: Here’s how to use tax sops optimally

One should put the various tax deductions, benefits and exemptions to best use to minimise tax liability. Year-end tax planning strains finances if decisions are made in a hurry.

Income tax, Income tax returns, tax sops, use tax sops, Tax-saving investments, saving taxes

Unable to pay your debt? How bankruptcy code gives faster resolution for creditors

Insolvency is a state or condition of a person who is unable to pay his debts.

Income tax: Here are investment options that can lighten your burden

The financial year is almost coming to its end and many investors will seek various avenues in order to save taxes.

Union Budget 2017 caps large cash transactions; here’s how it impacts you

DEMONETISATION of high-value currency notes was done to clamp down on black money, among other things. As a fallout of this decision, focus also shifted to urging people to move towards cashless transactions.

Union Budget 2017 has made investing in second house tax inefficient; check out the home truths

While finance minister Arun Jaitley duly recognised the contribution of the salaried class to tax revenues in his Budget speech, he did not do much to meet their expectations.

Budget 2017 and black money: Arun Jaitley set to tighten screws on tax evaders

The income tax department is sitting on voluminous data collected by banks and financial institutions after the demoneti- sation drive.

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


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