Repayment of loan between brother and sister does not have any tax implications. However, transfer of money to an individual without any consideration will amount to a gift in the hands of the recipient. There is no gift tax in…
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For individuals and HUFs, ITR 1 to 4 are applicable, depending upon the source/nature of income. Understand the changes in ITR and their impact, so as to prepare better for the tax filing season.
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Although no one can avoid income tax, it is in your own interest to ensure that you are not paying more tax
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If the taxpayer has in his Income-tax (I-T) return declared a particular house property to be self-occupied,
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Looking for cash to tackle major infrastructure projects in the state,
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Indian feudatory states stamps are hot with active markets in the United States
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Rental income from house property situated in India is liable to income-tax in India. The method of computing taxable value of rental income is as follows: Gross annual value less municipal taxes gives the net annual value (NAV). Reduce standard…
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Prime Minister Narendra Modi on Wednesday announced a 30-day free visa for Indonesian citizens
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When the thought of paying income tax on our hard-earned money in itself is a detestable exercise,
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If you file the ITR after 31 July but on or before 31 December, the penalty to be paid would be Rs 5,000.
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