Category: Income Tax

Clipped from: https://www.financialexpress.com/money/income-tax/your-queries-income-tax-capital-gains-on-sale-of-flat-to-be-shown-in-itr-in-year-of-sale/2334872/ To avail the exemption under Section 54, capital gains on sale of property have to be re-invested in new residential property within 2

Clipped from: https://www.financialexpress.com/money/income-tax/can-you-claim-income-tax-benefit-on-hra-if-living-with-parents-during-work-from-home/2334671/ Income Tax benefits on HRA during work from home: Tax exemption on House Rent Allowance (HRA) is an important benefit available to salaried

Clipped from: https://www.business-standard.com/article/economy-policy/cbdt-chairman-questions-delay-in-time-barred-assessment-proceedings-121092000040_1.htmlIllustration: Ajay Mohanty The income tax (I-T) department has to dispose of over 35,000 cases, pending after search operations, by the end of this

Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-to-reduce-penal-interest-payable-on-tax-if-itr-filing-delayed-due-to-glitches-in-site/articleshow/86312350.cmsSynopsis Penal interest is levied at 1 per cent per month or part thereof starting from August 1, 2021. If the self-assessment tax is

Clipped from: https://www.thehindubusinessline.com/opinion/columns/the-cheat-sheet/taxing-interest-on-pf-contributions-soaking-the-salaried-middle-class/article33803410.ece Is the government playing ‘Robin hood’ by taxing interest earned on employees’ contribution to provident fund? What is the loophole that is being

Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-to-register-yourself-on-the-new-income-tax-portal-for-filing-itr/articleshow/86091656.cmsSynopsis ​Here is a look at the details you will have to provide and a step-by-step guide on how to do register and open

Clipped from: https://www.financialexpress.com/money/income-tax/tax-talk-how-to-calculate-tax-on-your-property/2330210/ While the appreciation in value of property is taxed at the time of sale as capital gains, concurring rental benefits are taxed on

Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-to-adjust-capital-gains-against-capital-losses-in-itr/articleshow/86113927.cmsSynopsis An individual taxpayer can bring down his/her tax liability by setting off capital gains from one asset with capital losses in another asset.

Clipped from: https://www.loksatta.com/arthvrutant-news/statement-as-per-income-tax-rules-taxpayer-income-shares-of-the-company-akp-94-2593914/ प्राप्तिकर नियमानुसार विवरणपत्र भरण्यासाठी एकूण ७ फॉर्म्स आहेत. || प्रवीण देशपांडेमागील लेखात आपण विवरणपत्र भरणे कोणाला बंधनकारक आहे ते बघितले. या लेखात आपण

Clipped from: https://www.thehindubusinessline.com/news/extension-of-due-date-brings-no-relief-to-assessees/article36420636.ece?homepage=true Delay in payments to attract interest up to2 per cent; experts call for change in norms Extension of the due date for filing

Clipped from: https://www.business-standard.com/article/pf/things-to-keep-in-mind-while-filing-your-income-tax-return-this-year-121091000765_1.html Ensure you file your returns ahead of time, in case you need to make changes The taxpayer needs to report all his bank

Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-to-claim-ltc-cash-voucher-exemption-in-your-income-tax-return/articleshow/86059362.cmsSynopsis As per the government, individuals having LTC/LTA in their salary package would have been unable to travel and claim income tax exemption on

Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/claiming-tds-on-interest-income-from-bank-ac-jointly-held-with-late-parent/article36407248.ece My father-in-law P V Krishan (late) and my wife Premaramani are joint SB and FD A/c holders with a leading private sector bank

Clipped from: https://www.business-standard.com/article/pf/things-to-keep-in-mind-while-filing-your-income-tax-return-this-year-121091000765_1.html Ensure you file your returns ahead of time, in case you need to make changes The Central Board of Direct Taxes (CBDT) has

Clipped from: https://www.business-standard.com/article/pf/nris-should-apply-to-i-t-dept-for-relief-from-double-taxation-experts-121082500047_1.html If they have lost non-resident status because of enforced stay in India, this can bring them some reprieve Photo: Shutterstock With the September

Clipped from: https://economictimes.indiatimes.com/news/india/i-t-survey-at-premises-of-2-delhi-based-portals/articleshow/86104802.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis The income tax department on Friday conducted survey operations at the premises of Delhi-based media portals Newsclick and Newslaundry, people aware of the

Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-to-file-itr-1-with-salary-income-home-loan-other-incomes-for-fy-2020-21/articleshow/86001429.cms The first step in filing one’s Income-tax Return (ITR) is selecting the right tax return form. The applicable tax return form depends on

Clipped from: https://economictimes.indiatimes.com/news/company/corporate-trends/infosys-is-a-technologist-not-tax-expert-mohandas-pai-opens-up-on-the-i-t-filing-fiasco/articleshow/86057508.cmsSynopsis Former director director Mohandas Pai has highlighted how the problems with the Income Tax Portal arose from unrealistic and vague expectations from both