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Selling jointly owned flat? Both have to pay tax
Income from joint ownership property is taxed in the hands of both the owners in the ratio of their share in the property.
Oct 16, 2018
Tax talk: Buying property worth more than Rs 50 lakh? Deduct TDS
From June 1, 2013, purchasers of immovable property (other than rural agricultural land) are required to deduct tax at source as per provisions of section 194IA of the Income Tax Act, 1961.
Oct 15, 2018
Good news for taxpayers: Government to ‘facilitate’ honesty and consistency, to roll out benefits
The government is working on an ambitious policy proposal to "facilitate" honest and consistent taxpayers in availing a variety of public services and tax-related works on priority, officials said.
Oct 14, 2018
ITR filings set to double under NDA: Finance Minister Arun Jaitley
In the field of indirect taxation, implementation of the goods and services tax (GST) also brought in a huge number of tax assessees than in the pre-GST regime, he added.
Oct 12, 2018
Arun Jaitley says number of direct taxpayers may double to 7.6 crore during 5 years of Modi government
Finance Minister Arun Jaitley said Thursday the number of direct taxpayers is expected to double to 7.6 crore during the five-year term of the present government on account of various initiatives like
Oct 11, 2018
What is the difference between salary on Form 16 and 26AS
Short-term capital loss is allowed to be set off against both long-term and short-term capital gains.
Oct 10, 2018
Know how you can save tax on capital gains
Independent capital gains rules are applicable for each asset class. However, there are numerous sections under which if you reinvest your long-term capital gains you can save on tax
Oct 09, 2018
CBDT extends deadline for filing ITR, audit report till October 31
The government today extended by a fortnight till October 31 the deadline for filing Income Tax return (ITR) and audit report for financial year 2017-18.
Oct 08, 2018
Late tax refunds: Don’t feel helpless, you can go to the tax ombudsman; Here’s what to do
Taxpayers need to make known their acceptance of the ombudsman’s decision within 15 days of receiving the letter stating the decision.
Oct 08, 2018
PPF to NPS to NSC to PF to ELSS to insurance plans: Do you know tax impact of each?
Tax deductions under section 80C and other similar sections help people inculcate saving habits as the tax saved on such investments gives immediate returns in the form of the amount of tax saved.
Oct 03, 2018
Waiting for income tax refund? Here is how to check the status of your ITR
The tax department will start the refund process only after the ITR is verified and the refund amount will be paid if the claim of refund is accepted by the department.
Oct 01, 2018
Earned foreign income this year? Here’s how you can avoid Double Taxation
Double taxation means taxation of the same income of a person in more than one country. This results due to countries following different rules for taxation.
Sep 26, 2018
Income Tax update: Deadline for filing ITR, audit report extended till Oct 15
Given that it is the first year for I-T filers after the new indirect tax regime came in, many tax practitioners had petitioned for more time.
Sep 25, 2018
Income Tax: Deduction on tuition fee allowed only if the institute is located in India
Kumar Deduction for tuition fees paid is allowed under Section 80C only if tuition fees is paid to university, college or institution situated within India.
Sep 19, 2018
Income Tax: Rental income taxed in hands of that co-owner who paid for property
Exemption from LTCG tax is provided to the taxpayer if he uses the LTCG to buy a property within two years from the date of transfer or construct a property within three years from the date of transfe
Sep 18, 2018
Interest payable on Rupee bonds issued abroad by Indian companies exempt from income tax
The government Monday exempted from income tax the interest payable on rupee denominated bonds issued outside India by a company or a trust to a non-resident or a foreign company, a move aimed at incr
Sep 17, 2018
Taxability of EPF Withdrawal: Tax implications on withdrawal of Employee Provident Fund balance
There are tax implications on partial or complete withdrawal of the EPF amount. Here's all you need to know about them.
Sep 17, 2018
ClearTax expects 40 lakh ITRs to be filed through its portal this fiscal
With increased government focus on tax compliance, ClearTax on Sunday said it expects at least 40 lakh filings through its online returns filing portal during the current fiscal ending March 2019.
Sep 16, 2018
Mutual Fund Investment: How much difference does LTCG tax on MFs make to your yield?
The Union Budget 2018 announced a flat 10% tax on long-term capital gains on equity and equity mutual fund investments. Here's how it will impact you.
Sep 14, 2018
Income tax benefits on education costs for individuals; Here’s all you need to know
Are you aware of the income-tax benefits available to an individual in relation to the education costs as per the provisions of the Income-Tax Act, 1961?
Sep 10, 2018
How to track your income tax refund status? Check out details and step by step guide
What to do in case you haven’t received your income tax refund yet and want to check its status? Here's is how to do that.
Sep 10, 2018
Income Tax Return filing: Why filing tax return is a must for Global Indians
Filing tax returns comes with many advantages for Global Indians. NRIs who have not filed their ITR yet should consider filing Belated Returns.
Sep 06, 2018
Filed Income Tax Return? Here’s why you must verify your ITR now; A step-by-step guide to do it
Verification is the final step in the process of filing your income tax return as failure to do so will result in an invalid return.
Sep 04, 2018
Taxing times: Bombay HC pulls up Income Tax Department, says taxman losing cases deliberately
The Bombay High Court has pulled up the income tax department (ITD) saying that its approach to litigation in the higher courts was responsible for consistently losing cases, and that this “could be
Sep 04, 2018
71% surge in Income Tax Returns filed till August 31
The government on Saturday credited demonetisation for a jump in income-tax e-returns filed by taxpayers till August 31, which was the last day of the extended deadline.
Sep 02, 2018
71 percent surge in ITRs filed till August; presumptive tax filers jump 8-fold
The number of income tax return (ITR) filings surged 71 per cent to 5.42 crore till August 31— the last date for submission for financial year 2017-18.
Sep 01, 2018
Penalty clause spurs filing of Income Tax returns within deadline
A total of Rs 5.42 crore income tax returns (ITRs) were filed till the end of extended August 31 deadline this year showing an improvement of around 71 per cent over returns filed during the same peri
Sep 01, 2018
How to disinfect N95 masks for reuse? Researchers find a new way!
CAMS, Chemcon IPOs: How to check share allotment status on BSE, registrar websites; step-by-step guide
Bill Gates making $200 billion from vaccines? Microsoft co-founder explains math behind 'returns'
Coronavirus in India: Travellers from Dubai, UK contributed maximum COVID-19 importations, finds IIT study
Adani debunks GDP rhetoric, says India will be second largest economy by 2050
Madhya Pradesh: IPS officer beats wife; relieved of duties after viral video
WATCH: Farm bills protest turns violent in Delhi, Youth Congress workers set tractor on fire near India Gate
New RBI guidelines on loan moratorium: What should borrowers do?
TCS National Qualifier Test: TCS opens NQT for recruiting freshers for corporates - check details
Coronavirus spreading through air? CSIR begins study to find out possibility of airborne transmission of COVID-19
IPO watch: Mazagon Dock issue oversubscribed, UTI AMC subscribed 25%, Likhitha Infrastructure at 84%
India may soon store crude oil in US, other foreign nations; invites cos to enhance domestic capacity
Sensex, Nifty halt 2-day gaining streak, end flat; all bank stocks except HDFC Bank end in red
Boost to Namami Gange Mission! PM Modi inaugurates 6 mega projects, first museum on Ganga in Uttarakhand
Atmanirbhar Bharat in Defence sector: Corporatisation of OFB debate - Concerns and the future
Mi Watch Revolve, Mi Smart Speaker: Decoding Xiaomi's first smartwatch and smart speaker in India
India-China Standoff: IAF ready to counter any misadventures, says Air Chief RKS Bhadauria
ITC’s plan to kick the butt; FMCG business set for rapid growth, these products to drive sales
Sugar mills get 1-month window to get subsidy on loans to set up ethanol distilleries; check deadline
Coronavirus global death toll: Over 5,400 dying each day but scientists yet to figure out death rate metric
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