Income tax return filling is a daunting task for NRIs even the slightest mistake or mismatch can land them in a trouble. To make the matter worse, the Income Tax Department has now attached a penalty for missing the deadline…
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The income tax department can allow taxpayers to file returns post the deadline for specific cases.
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One of two non-resident Indians (NRI) in the UAE plan to buy property within the year, according to a new survey, with real estate investment options in their homeland gaining strong interest in light of a weakened Indian rupee. The…
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Any sum of money received without consideration—monetary gift may be received in cash or in kind; i.e., cheque, draft, etc.,—by an individual/ HUF will be charged to tax if the aggregate value of such sum of money received during the…
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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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