While filing I-T Return, the taxpayer first computes gross income from various sources. This gross income amount is arrived at by excluding the amount of incomes which are exempt from tax for instance an exempt portion of house rent allowance (HRA). The resultant...

This time of the year, parents are busy planning for admission of their wards to the school of their choice and students are busy packing their bags and working up the assignments and homework. Though, this year the Covid-19 situation has made them access their school...

With this rebate claim, small taxpayers end up paying ZERO income tax, though they have to file their I-T Returns From the Assessment Year 2020-21 (the financial year 2019-20), the small individual taxpayers having annual income less than ₹500,000/- are NOT needed to...

In view of the optional tax regime introduced from the financial year 2020-21, many salaried individuals are expected to have a tryst with these tax provisions. As per Income tax law, the income from salary is taxed on the basis of due or receipt whichever is earlier....

Buying a house with a home loan has definite tax benefits in the form of deduction against home loan interest paid and home loan principal repaid. Besides these, from the financial year 2019-20 i.e from the assessment year 2020-21, you can also save tax through an...

In line with other laws made for the concessions and welfare of differently-abled persons, Income-tax Act also contains the special provisions for the differently-abled persons. These provisions are scattered under different chapters of the Income-tax Act. In common...

3 Action Points to help you avoid the tax impact You will agree that it has been a chaotic year for everyone… People have lost jobs, had to undergo pay cuts, had to relocate to smaller cities & whatnot… In all this, it’s entirely understandable and human to go...

The cost of quality education post your Higher Secondary School is increasing every year. Many students and parents are preferring education loans to finance their higher education in good quality institutes. Different banks and financial institutions and some well...

As the new financial year kicks off, several new tax changes become applicable. You must keep yourself abreast with these tax changes as a diligent investor and save yourself from getting caught on the wrong foot. The below write up will help you precisely do that, as...

When it comes to tax planning, are you stuck with the old & so-called “safe” investment avenues like NSC, LIC etc.? These “safe” investments are not the best in the long term because they don’t protect you from the biggest enemy of your wealth creation journey that is...