Senior citizens with taxable income up to Rs 5 lakh can seek TDS exemption on bank interest
Senior citizens (above 60 years of age) have to submit Form 15H to banks at the beginning of a financial year to ensure no tax is deducted at source on interest income.
Can you claim tax benefit for tax paid on insurance premium?
Section 80C and 80D of Income-tax Act entitles specified taxpayers to claim dedu...
How to e-file ITR 1
As the financial year ends, you need to collect proofs of income, investments, bank statements and expenses to file your ...
In 2 years, income taxpayers to start getting refunds within 24 hours
The revenue department is further upgrading its system so that refunds can be received within 24 hours.
Clubbing of income: When you are liable to pay tax on another's income
Sometimes, a taxpayer may have to pay tax on the income of another person. Clubbing provisions in the I-T Act include reporting such income as the taxpayer's income.
Budget proposals to help put more money into pockets of small taxpayers: ICAI
The Institute of Company Secretaries of India (ICSI) President Ranjeet Pandey said the Budget tries to benefit all the three constituents of the economy -- the labourers, the salaried and the business.
Budget as poll slogan: Jai kisan, jai gareeb insaan, jai taxpayer
The BJP defeat in key state polls recently has more or less decided that the government would use the interim Budget as a vehicle to launch welfare schemes and sops.
Indian-origin British retailers among UK's top 50 taxpayers: Report
The Arora family, behind the B&M chain of discount stores, paid 25.6 million pounds towards their 2017-18 tax bill against wealth estimated at 2,300 million pounds.
Budget 2019: No marginal relief for taxpayers whose taxable income exceeds Rs 5 lakh
The marginal increase in income above Rs 5 lakh will result in more tax outgo than the incremental increase in income
What individual taxpayers can expect from Budget 2019
Kuldip Kumar, Partner and Leader - Personal Tax, PwC India speaks about what individual taxpayers can expect from the Union Budget 2019. Wat...
Income tax sop available even if capital gains not used for new house: ITAT
If on sale of a residential house ( held for at least two years), the taxpayer makes a profit, then such profit is treated as a long-term capital gain.
What is Form 16?
An employee can use Form 16 to source information for filling up his/her income tax return (ITR) and should be retained as backup proof for TDS.
Number of taxpayers up, but salaried still bear the brunt
While there are nursing homes every few km, only 13,000 paid taxes. In fact, their number is less than the number of fashion designers (14,500) paying income tax.
Taxpayers can compare tax liability declared in final, summary GST returns forms: GSTN
GSTN, in a statement said, since GSTR-1 and GSTR-3B are filed independent of each other, a need was felt to provide facility to view liability declared in both the forms at one place.
No advance ruling for subsidiaries in India?
The reason for such a stand by the tax department is a change in numbering of the relevant section of the I-T Act, by the Finance Act, 2017.
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