NPS: Contributions made by an individual taxpayer towards the NPS Tier-I account are eligible for tax benefit under section 80CCD (1).
ITAT held that long-term capital loss (LTCL) from one asset class may be set off against gains from another asset class.
Direct tax collection rose 74% to ₹ 5.70 lakh crore in the same period
ITR: If your gross total income does not exceed the basic exemption limit, you won't be liable to pay penalty for late filing.
The Income Tax Act has been amended to include a new section 54 EE that allows tax exemption for qualifying startups
Income should first be included in your income, and then the 80TTB deduction can be claimed
Along with domestic buyers, there has been a rise in non-resident Indians seeking to buy property in India, providing a further fillip to the market.
In this video, Money9's Priyanka Sambhav lists the six types of income that many taxpayers forget to mention while filing returns.
Money9 Helpline hosted Pankaj Mathpal, founder & managing director of Optima Money Managers, to help viewers understand nitty-gritties of taxation.
When an individual files taxes, he or she may provide fraudulent information in an attempt to reduce or avoid paying.