Category: Income Tax

Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-to-claim-credit-of-tds-deducted-by-employer-but-not-paid-to-govt/articleshow/88178448.cmsSynopsis If any tax has been deducted at source and deposited with the central government, it shall be treated as a payment of tax

lipped from: https://www.business-standard.com/article/pf/changes-in-income-tax-return-filing-that-you-must-know-before-writing-forms-121120800514_1.html There are some changes in the e-filing site, ITR Forms for AY 2021-22, as well as in the process of filing returns. The

Clipped from: https://www.thehindubusinessline.com/economy/policy/no-proposal-to-change-ltcg-norms-finmin/article37883254.ece Long term capital gains (LTCG) tax on equities and mutual funds will continue as the government informed the Rajya Sabha that there is

Clipped from: https://www.financialexpress.com/money/income-tax/itr-filing-taxpayers-now-need-to-give-a-quarter-wise-breakup-of-dividend-income-heres-why/2383494/ With effect from FY21, the government has made dividend distributed by an organisation taxable in the hands of investors. It should be noted

Clipped from: https://www.financialexpress.com/money/tax-talk-annual-information-statement-know-what-it-reveals/2381659/ Form 26AS on TRACES portal will remain in place until the new AIS is validated and becomes entirely operational The value derived after

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