Category: Income Tax

Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/simply-put-annual-information-statement-ais/article65639111.ece Ravi and Teja meet at their snooker club and during the game an interesting conversation related to income tax filing follows. Ravi: I think

Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-how-land-owner-calculates-gain-in-case-of-joint-development/article65640739.ece Section 45(5A) provides for determination of capital gains where land and building are sold together under a specified agreement Joint development of vacant

Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/de-tax-things-to-note-for-ensuring-a-defect-free-itr/article65640446.ece Taxpayers should be aware of key disclosure norms to shield themselves from consequences of any default As most individual taxpayers approach the income-tax

Clipped from: https://www.business-standard.com/article/pf/it-s-prudent-to-file-nil-itr-even-if-your-income-is-below-rs-2-5-lakh-122071401035_1.html Filing income tax return will prove handy while applying for a loan, insurance cover, or a visa If an ordinarily resident taxpayer has

Clipped from: https://www.deccanherald.com/business/family-finance/how-to-file-taxes-for-minors-1113627.html When it comes to filing the tax, a minor can also file, if their earning amount is over Rs 1,500 monthly Representative image.

Clipped from: https://www.financialexpress.com/money/income-tax/income-tax-return-filing-salaried-employees-ay-2022-23-section-80c-deductions-on-which-benefits-apply/2591639/ The Income Tax Return (ITR) deadline for AY 2022-23 or FY 2021-22 is July 31 for salaried employees whose accounts don’t need to

Clipped from: https://www.financialexpress.com/money/income-tax/tax-talk-cash-withdrawals-file-itr-2-or-3-to-claim-tds/2591831/ An assessee cannot claim credit for TDS on large cash withdrawals under Section 194N in Form ITR 1 even if his taxable income

Clipped from: https://www.businesstoday.in/latest/trends/story/income-tax-returns-here-are-some-common-mistakes-you-need-to-avoid-while-filing-for-itr-341244-2022-07-12 Any mistake while filing ITR can lead to a penalty or tax notice from the Income Tax Department. Follow the steps to know

Clipped from: https://www.business-standard.com/article/pf/five-key-benefits-of-filing-your-income-tax-return-by-the-due-date-122071200862_1.html Filing ITR is mandatory in order to claim deductions under Chapter VI and exemptions on long-term capital gains; but there are other benefits

Clipped from: https://www.financialexpress.com/money/income-tax/10-taxation-and-investment-related-benefits-exclusively-available-to-senior-citizens/2591270/ Here are 10 investment and taxation related benefits that are exclusively available to senior citizens. There are several tax benefits available to senior

Clipped from: https://economictimes.indiatimes.com/wealth/tax/own-two-houses-heres-how-to-claim-tax-deduction-on-hra-and-home-loan-repayment/articleshow/92804548.cms Synopsis A self-occupied house gives you two avenues of saving taxes which are the payment of interest and repayment of principal. You can

Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-what-if-your-employer-calculates-hra-exemption-incorrectly/article65615619.ece You may claim the correct exemption amount while filing your return of income for the respective year I want to know about HRA