Missed the March 31 Deadline to File Income Tax Return? Here’s What You Can Do
The income tax department can allow taxpayers to file returns post the deadline for specific cases.
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More than a home, NRIs look for Realty Investment assets in India
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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Received gift from relative? Check if you have to pay tax on it
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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NRI tax query: Repayment of loan between brother and sister is not taxable
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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Income Tax Return filing: Pick right ITR form based on your performance
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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Top 5 reasons why you could be paying more income tax and how to avoid it
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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Can change ‘self-occupied’ house to cut tax outgo: ITAT
If the taxpayer has in his Income-tax (I-T) return declared a particular house property to be self-occupied,
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Kerala to tap NRI funds for big infrastructure push
Looking for cash to tackle major infrastructure projects in the state,
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India’s 1899 Sirmoor set is one to seek : WORLD STAMPS
Indian feudatory states stamps are hot with active markets in the United States
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Residential status does not change taxability rules for rental income
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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