
When an employee is relocated, the tax valuation for accommodation provided by the employer is governed by specific rules.
To mitigate their tax liabilities, many individuals opt to purchase real estate in their spouse’s name. However, can you save…
What are the tax implications for gifts and bonuses received during Diwali under the Income Tax Act, 1961?
The revised rules aim to simplify the compounding process by reducing complexities from multiple existing guidelines and lowering compounding charges.
How do revised penalty and prosecution norms impact TDS deductors regarding their obligations and potential penalties for non-compliance?
The verification process will specifically target instances where multiple ITRs have been submitted using the same email address and exhibit…
The Finance Act 2024 revised the procedure for assessments whereby a case could be reopened beyond three years from the…
According to Section 54 of the Income-Tax Act, 1961, individuals or HUFs can receive an exemption from capital gains tax…
Income Tax Rules: There will be some key changes in the income tax rules starting October 1. These changes will…
Although there is typically no cap on the amount that can be deposited into a savings account, have you ever…
A tax return is considered defective if it is submitted without all the requisite information or documentation mandated by law.…
Overlooking tax implications could impede your capacity to reach your financial goals. Fortunately, the government provides several legitimate methods to…
There are several government savings schemes that offer good returns along with tax benefits. These investment options cater to different…
What are the income-tax implications of winnings from any lottery, puzzle or horse racing? Find out.
Individuals and Hindu Undivided Families (HUFs) have two options for calculating their long-term capital gains (LTCG) tax on sale of…
Advance tax payments are split into four installments with specific due dates: 15% by June 15, 45% by September 15,…
An individual is generally liable to pay advance tax, when their total tax liability for the financial year exceeds Rs…
To ensure tax-free EPF withdrawals, subscribers must complete 5 years of contributions, with TDS of 10% for withdrawals over Rs…