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  • Budget 2020 | A parallel taxation system may spell more tax conflict Feb 03, 2020 04:22 PM IST

    Budget 2020 | A parallel taxation system may spell more tax conflict

    The most charitable interpretation of the Budget is it has lost an opportunity to invigorate the economy.

  • Budget 2019 | How direct tax reforms can drive economic growth Jun 27, 2019 09:07 AM IST

    Budget 2019 | How direct tax reforms can drive economic growth

    Lower tax rates will act as an incentive for taxpayers to comply with the direct tax regime, file returns and pay tax, and augment revenue collection

  • New direct tax code to simplify Income Tax law, won't focus on changing tax slabs: Akhilesh Ranjan, CBDT Dec 04, 2018 04:52 PM IST

    New direct tax code to simplify Income Tax law, won't focus on changing tax slabs: Akhilesh Ranjan, CBDT

    Last week, CBDT, Finance Ministry's apex direct tax policy making body, named Akhilesh Ranjan as the new convenor of the task force for drafting new direct tax legislation as the previous head Arbind Modi retired on September 30.

  • Income Tax Returns FY 2017-18: The forms to choose from and their relevance Jul 24, 2018 11:12 AM IST

    Income Tax Returns FY 2017-18: The forms to choose from and their relevance

    The new ITR form 1 (Sahaj) requires the individual assessees to provide detailed calculation in case of salary & house property income.

  • 7 necessary steps to follow while filing your Income Tax Return Jul 23, 2018 10:52 AM IST

    7 necessary steps to follow while filing your Income Tax Return

    Don’t forget to verify ITR after E-Filing through ITR-V. ITR-V is the Income Tax Return – ‘Verification’ Form.

  • Common mistakes to avoid while filing your Income Tax Returns Jul 18, 2018 10:56 AM IST

    Common mistakes to avoid while filing your Income Tax Returns

    Make sure that you do not commit the mistake of ignoring the rules of taxation.

  • 5 reasons why you should not hesitate to file your ITR on your own Jul 12, 2018 11:14 AM IST

    5 reasons why you should not hesitate to file your ITR on your own

    You should not be hesitant in filing your income tax returns yourself. There are several websites which can also help you file your returns effortlessly following certain steps.

  • Filing income tax returns: Know the new requirements in ITR forms this year Jul 09, 2018 11:30 AM IST

    Filing income tax returns: Know the new requirements in ITR forms this year

    The most important change in ITR 1 is that it can only be used by ‘Residents’ having income from salaries, one house property and income from other sources.

  • Filing Income-Tax Returns: 5 tax implications of mutual fund investments Jun 26, 2018 12:11 PM IST

    Filing Income-Tax Returns: 5 tax implications of mutual fund investments

    While you can claim up to Rs 150000 deduction for investment in ELSS scheme during the financial year, there are other tax implications on mutual funds which one should be aware of while filing their ITR.

  • Health Insurance: Here is how you enjoy tax benefits on premium paid Jun 01, 2018 11:30 AM IST

    Health Insurance: Here is how you enjoy tax benefits on premium paid

    If you are buying a health Insurance policy, you should know the recent tax changes associated with it.

  • Startups with up to Rs 10-cr investment to get tax concession Apr 12, 2018 02:57 PM IST

    Startups with up to Rs 10-cr investment to get tax concession

    As per a notification by the commerce and industry ministry, an angel investor picking up stakes in a startup should have a minimum net worth of Rs 2 crore or should have an average returned income of over Rs 25 lakh in the preceding three financial years.

  • 5 changes you need to focus while computing your taxes for filing tax returns this year Apr 09, 2018 11:09 AM IST

    5 changes you need to focus while computing your taxes for filing tax returns this year

    As a taxpayer, it is necessary for you to keep abreast of the latest amendments to enable a salaried individual to compute taxes and file individual tax returns.

  • Here are 9 last-minute tax saving options available for you under section 80C Mar 31, 2018 11:13 AM IST

    Here are 9 last-minute tax saving options available for you under section 80C

    The final date of making investments is about to come, are you done with all your investments? If you still haven't invested your money in tax saving instruments and reduced your tax liability then also, you need not have to worry about it. Section 80C of Income Tax Act provides you with the benefit of doing tax savings of Rs 1.5 lakh in a particular financial year. Here are nine tax savings solutions.

  • How to view, download your Form 26AS and why it is important Mar 28, 2018 12:53 PM IST

    How to view, download your Form 26AS and why it is important

    Form 26AS, also known as Annual Statement, is a document that provides details of TDS, refunds associated with a PAN in a particular financial year

  • IT Tribunal rejects tax payer‘s HRA claim on rent paid to mother: An analysis Apr 28, 2017 08:00 AM IST

    IT Tribunal rejects tax payer‘s HRA claim on rent paid to mother: An analysis

    The Mumbai Income Tax Tribunal, recently delivered a very important decision on the claim for tax exemption on HRA (House Rent Allowance). Let us analyse the decision in details, with its ramification and relevance &#82

  • Taxation of rent received and deductions available Apr 14, 2017 08:00 AM IST

    Taxation of rent received and deductions available

    Taxation of rent received The Income Tax Act of India has a specific head of income, titled ‘Income from house property‘, to tax the rent received by an owner of a property. So, any &#82

  • How much of your salary should you spend on rent? Apr 01, 2017 08:00 AM IST

    How much of your salary should you spend on rent?

    The rental housing market has many options, available at various rates. Consequently, it may be difficult for a prospective tenant to figure out how much to spend as rent. The answer to this, depends &#82

  • PMGKY a flop? Why black money holders don’t mind taking on the I-T department Mar 30, 2017 04:56 PM IST

    PMGKY a flop? Why black money holders don’t mind taking on the I-T department

    Significant element of coercion, government's fequent change of stance and lack of trust brought in a confrontationist attitude and led to the failure of Pradhan Mantri Garib Kalyan Yojana.

  • TDS provisions on rent paid, under the income tax laws Mar 28, 2017 08:00 AM IST

    TDS provisions on rent paid, under the income tax laws

    Existing TDS provisions on rent paid Tax deduction at source (TDS), is a process in which the payer of the income, pays you the income after deducting tax at the prescribed rates. The existing &#82

  • NBFC cash loan against gold restricted to Rs 25,000 Mar 09, 2017 07:30 PM IST

    NBFC cash loan against gold restricted to Rs 25,000

    Non-Banking Finance Companies (NBFCs) cannot lend more than Rs 25,000 in cash against gold, the Reserve Bank said today.

  • Want to shift your PF to NPS? Here are steps to transfer funds Mar 07, 2017 05:44 PM IST

    Want to shift your PF to NPS? Here are steps to transfer funds

    As per provisions in the Income Tax Act, the amount transferred from recognised PF/superannuation fund to NPS will not be treated as income of the current year and is hence not taxable.

  • Operation Clean Money: Govt to issue notice to non-respondents Mar 03, 2017 08:00 PM IST

    Operation Clean Money: Govt to issue notice to non-respondents

    Keeping up the heat, the income tax department will issue statutory notices to all those who have failed to respond to its SMS and e-mail queries seeking explanation on bank deposits made after demonetisation.

  • Budget 2017: Provisions for redevelopment projects to bring relief to home owners Feb 25, 2017 08:00 AM IST

    Budget 2017: Provisions for redevelopment projects to bring relief to home owners

    As per the income tax laws, any profit on sale or transfer of your house or land becomes taxable, in the year in which you transfer the same. As per the Transfer of Property &#82

  • Still undecided on tax saving? Here's the best option for you Feb 21, 2017 12:39 PM IST

    Still undecided on tax saving? Here's the best option for you

    Financial planners and experts seem to be in agreement that Equity Linked Savings Schemes (ELSS) is the best investment avenue under Section 80C of the Income Tax Act since it outscores other options in terms of liquidity and returns.

  • Should you opt for 'consultant' status to lower tax outgo? Feb 20, 2017 12:50 PM IST

    Should you opt for 'consultant' status to lower tax outgo?

    As a consultant you are required to pay a flat 10 per cent tax on income while an employee is taxed as per applicable slab, the highest being 30 per cent along with surcharge.

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