Page 123 of Income Tax

CBDT has clarified that in the case of senior citizens, no TDS is required to be deducted u/s 194A, where…

Apart from investments, deductions are also given on certain allowances and expenditures, which the salaried persons should know.

Income Tax department wants to make it (processing of ITR form) very fast, maybe in a day or a week.

The Income Tax Department is planning to introduce a slew of measures to ease the process of obtaining a Permanent…

Permanent Account Number (PAN) is the tax identification number mandatory for filing income tax returns and can be applied either…

Even though over the years we have seen a shift in taxation of dividends, it still remains an attractive stream…

However, TDS needs to be deducted @ 20%, if the deductee does not furnish PAN.

The CBDT has issued a fresh directive on ‘limited scrutiny’ assessment cases allowing the tax officials to widen the scope…

As per Section of Income-Tax Act 1961, only one house can be considered as a self-occupied property and the other…

Mumbai based Income Tax Appellate Tribunal has given a judgement stating that any payout received as compensation in case of…

As per the Income Tax Act, PAN is necessary to be quoted in various documents or transactions. However, in certain…

Most people wait for the tax season to set in to buy insurance policies in a bid to save tax.…

If you are not able to sell the old property after one year from the date of purchase of new…

Returns filed by individuals with salary income, which is the largest chunk of e-filers, grew by 45%. Other categories of…

With the change in taxation rules, individuals investing in mutual funds need to comply with the existing tax provisions to…

Before investing, you should keep in mind that the factors like taxation and inflation have negative impact on that seemingly…

Accordingly, if the purpose is to transfer the ownership of the flat to your wife such that she becomes the…