Category: Income Tax

Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-how-to-file-itr-for-the-deceased/article37842722.ece I lost my brother to Covid-19 in May 2021. Do we need to file income tax returns on his behalf for the last

Clipped from: https://economictimes.indiatimes.com/wealth/tax/you-can-be-deemed-resident-taxed-in-india-even-if-you-havent-spent-even-one-day-in-the-country-heres-how/articleshow/87711480.cmsSynopsis The recent changes in the Income-tax Act, 1961 has made an individual’s income taxable in India even he has not spent a single

Clipped from: https://economictimes.indiatimes.com/wealth/tax/what-is-my-itr-filing-status-if-i-recently-shifted-back-to-india-from-the-us/articleshow/88043918.cmsSynopsis If your days spent in India are more than 182, it makes you a resident in India. Further, determine whether you are resident

Clipped from: https://www.financialexpress.com/money/income-tax/high-value-transactions-which-can-get-you-an-income-tax-notice-check-full-list/2381159/ High-value transactions must always be reported to the Income Tax Department if the value surpasses a particular threshold limit. Cash deposits and withdrawals

Clipped from: https://economictimes.indiatimes.com/wealth/tax/9-documents-you-need-to-file-itr-for-fy-2020-21/slideshow/88052927.cms ​Form-16 This provides details of the total salary paid to you less of tax exemptions that you are eligible for and tax deducted

Clipped from: https://economictimes.indiatimes.com/news/economy/finance/govt-looking-to-add-cryptocurrencies-to-tax-law/articleshow/88082435.cmsSynopsis The government is considering amending Section 26A of the Income Tax Act and the Annual Information Regulation (AIR), which shows data on all

Clipped from: https://economictimes.indiatimes.com/wealth/tax/9-income-tax-saving-tips-that-also-help-financial-fitness/articleshow/88064034.cmsSynopsis For instance, in case of a salaried individual, one can evaluate the salary structure offered by the employer and opt for those salary

Clipped from: https://economictimes.indiatimes.com/wealth/plan/10-point-personal-finance-checklist-for-parents-to-ensure-fair-division-of-wealth-among-children/articleshow/87946239.cmsSynopsis Parents should be impartial when it comes to providing for their children. Avoid hassles for your children by acting decisively, fairly and equitably

Clipped from: https://economictimes.indiatimes.com/wealth/tax/money-relationships-what-are-the-tax-implications-if-my-daughter-sends-me-money-from-abroad/articleshow/87946315.cmsSynopsis Is it legally tenable to send parents money from a foreign country? More importantly, will you or they have to bear any kind

Clipped from: https://economictimes.indiatimes.com/wealth/tax/new-income-tax-portal-errors-resulting-in-reduced-tax-refund-amounts-for-many/articleshow/88022306.cms Have you received lower amount of tax refund than what you had claimed while filing your income tax return (ITR) for FY 2020-21? If yes,

Clipped from: https://www.financialexpress.com/money/income-tax/your-queries-income-tax-no-tax-benefit-on-loss-on-fd-due-to-insolvency-of-finance-company/2379376/ For taxation purposes, capital gain or loss arises when there is a ‘transfer’ of capital asset. ‘Transfer’ includes sale/ exchange/ relinquishment of assets

Clipped from: https://economictimes.indiatimes.com/wealth/real-estate/how-to-calculate-real-returns-from-your-rental-property/articleshow/87929696.cmsSynopsis Many of us buy the second house to earn the rental income and also to capture the price appreciation. However, there are many

lipped from: https://www.financialexpress.com/money/income-tax/income-tax-return-along-with-tax-on-gains-software-compatibility-issues-bother-equity-mf-investors/2379114/ Filing their return of income has become a daunting task for the equity mutual fund investors investing especially through the SIP route. The

Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-how-to-get-tds-certificate-from-mutual-funds/article37726980.ece?homepage=true I have a few doubts with respect to my ITR for FY 2020-21 i.e. current AY 2021-22. I have invested ₹20,000 in Templeton

Clipped from: https://www.thehindubusinessline.com/multimedia/audio/portfolio-podcast-how-do-you-verify-your-itr/article37715878.ece?homepage=true The tax filing season for assessment year (AY) 21-22 is here. Have you filed your income tax return or ITR yet? Know that

Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/how-to-verify-your-income-tax-return/article37726332.ece?homepage=true Remember to verify your ITR within 120 days of filing A phone call between two friends leads to a conversation on verifying the

Clipped from: https://timesofindia.indiatimes.com/business/india-business/foreign-funds-invested-in-india-cant-be-taxed-as-unexplained-income/articleshow/87941381.cms MUMBAI: In a recent order, the Income-Tax Appellate Tribunal (ITAT), Mumbai bench, has held that purchase of a flat by a non-resident using

Clipped from: https://timesofindia.indiatimes.com/business/wealth/tax-planning/over-2-6-crore-i-t-returns-filed-portal-issues-sorted-government/articleshow/87790865.cms NEW DELHI: The government has ruled out an extension beyond December for filing income tax returns and is nudging taxpayers to make their