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Tax disputes for amount up to Rs 25k waived
FM said that the demand from those who had outstanding tax of up to Rs 25,000 till the financial year 2009-10, will now be waived off
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Higher social sector allocation likely on robust tax mopup
The government has targeted Rs 18.23 lakh crore collection from direct taxes in this fiscal. Till January 10, the mop-up stood at Rs 14.70 lakh crore,
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Earned interest? Now pay taxes!
The taxpayer is required to show interest earnings from all their savings accounts within a financial year in his ITR under the head Income from other
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89% say getting faster I-T refunds: CII
As many as 89 per cent of individuals and 88 per cent of firms say that there has been a big reduction in waiting time to get an income tax refund b
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Tax on income from gifts to minors
Clubbing of income will remain applicable till the child attains adulthood. After attaining adulthood, this income will be taxable in his own han
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Pay tax on selling property!
When selling capital assets like houses or land, if there is a profit, known as capital gain, then taxes are levied on that profit
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Life policies with over Rs 5 lakh premium face tax
Previously, the IT Act exempted the amount received by way of bonuses under a life insurance policy. Now, following these regulations, no life insuran
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Earning from Twitter may attract GST
If the total income of a person from various services including rental income, interest on bank fixed deposits and other professional services exceeds
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Start early to minimize your tax
For most of us, retirement might seem like a far cry. But if you start saving for your twilight years right away, not only will you benefit then, but
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Don't hide your moonlighting income
In your ITR, if you file your moonlighting monies under the head “Income from business and profession”, you are marking it as fees for the profess
