According to the Income-tax Act of 1961, a senior citizen is someone who is 60 years or older but under the age of 80. A super senior citizen is someone who is 80 years or older. This page quickly describes all of the income tax provisions that apply to r...
Unlisted shares, which are commonly linked with private enterprises and startups, provide distinct tax problems. This article discusses how to calculate capital gains, the filing requirements for Income Tax Returns (ITR), and the numerous tax implications...
In April, choosing between new and old tax regimes is crucial for managing finances. Understanding the impact of TDS on salary can help make informed decisions. By evaluating the advantages and disadvantages of each regime, you can optimize tax savings an...
The Non-Linking of PAN (Permanent Account Number) with Aadhar has become a serious problem to many Catergoes / Class of Taxpayers as well as Tax Deductors like: 1. Property Buyers - Where property value is 50 Lac. 2. Car Sellers where Car Value...
Welcome to our detailed tutorial to the use of ITR forms! When it comes to completing your income tax return in India, you must select the appropriate form based on your income sources and other important information. Understanding the various ITR forms,...
Medical Insurance Premium plays a significant role on tax planning and financial planning. It would not be wondering that all taxpayers can claim a deduction of INR 1 Lac through Section 80D of the Income Tax Act, 1961....
In the labyrinth of tax-saving avenues, House Rent Allowance (HRA) stands out as a beacon of relief for salaried individuals. Under Section 10(13A) of the Income Tax Act, 1961, HRA offers significant deductions, provided certain conditions are met. Unders...
In the realm of tax-saving strategies, the Hindu Undivided Family (HUF) stands out as a lesser-known yet powerful tool. Often overlooked, an HUF offers a plethora of tax benefits that can significantly reduce your tax burden. This comprehensive guide will...
House Rent Allowance is a major portion of your salary. It is provided to the employees by an employer or company to enable them to bear the expenses incurred on house rent. The following are the conditions by which an employee’s HRA will not be taxed,...