Budget 2012: IIA expects the income tax rate for MSME manufacturers to be reduced
In the Budget, the rate of depreciation on plant and machinery should be enhanced to 50% from 15% at present as an incentive.
Tax queries: Annuity received on a periodic basis is taxable as an income under the head ‘Salaries’
Dilip Lakhani Senior Chartered Accountant...
Pre and post-Budget 2019: How tax benefit changes for individuals with 2 home loans
At present, if you have more than one property for self-o...
Budget 2019: Tax break for Rs 5 lakh earners is huge tax planning incentive for middle income group
Taxpayers very close to the threshold limit will have to ensure their income does not exceed Rs 5 lakh.
Budget 2019: Here's how much tax low, middle and high income groups save
Piyush Goyal’s budget gifts full rebates to those earning up to Rs 5 lakh a year.
Income tax rebate of Rs 12500 to those who earn up to Rs 5 lakh from April 1: CBDT Chairman
People having taxable income of Rs 6.5 lakh per annum too can avail "tax rebate" provided they invest Rs 1.5 lakh in specified investments such as PPF, GPF and insurances.
How much money this Budget can help you save
The change in standard deduction from Rs 40,000 to Rs 50,000 for salary earners will benefit even those with annual incomes above Rs 5 lakh.
Tax changes in 2018 that have affected your personal finances
Here are some of the important tax changes directly impacting your personal finances that came into effect this year and the dates when they became effective.
7 lesser-known investments, expenditures eligible for tax breaks
Did you know you that can claim tax deduction on stamp duty? Here are other tricks that can help you cut tax.
BJP against lifting of standard deduction, sops on savings, housing
The BJP on Tuesday rejected harsh recommendations of the Kelkar panel saying the proposals to abolish standard deduction of salaried class, tax sops on savings and housing loans and imposition of tax on farm income were against the interest of vulnerable sections of the society.
Travel expense not allowed as deduction from NRI’s income, rules tax tribunal
As the connection between travel expenses and the income earned was not substantiated, it was denied as a deduction in the NRI’s hands.
How to file income tax return without Form 16
Even if you don't have Form 16, there are several documents you can use as reference to file your return.
How to fill salary details in ITR1 for FY 2017-18
Not all of the amount received as salary is fully taxable. A part of it will be fully exempt from tax and a part of it will be partially exempt.
Tax Optimiser: How NPS, perks can help salaried Mohanty cut tax by Rs 76,000
Taxspanner estimates that Mohanty can reduce his tax by almost Rs 76,000 if he gets more tax-free perks and his company offers him NPS benefit.
Can change ‘self-occupied’ house to cut tax outgo: ITAT
Under the I-T Act, where an individual owns more than one house, he can only treat any one of his house properties as ‘self-occupied and having a nil annual value’.
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