by Damini Patil | Jan 24, 2022 | Tax Planning
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...
by Amrita Thakur | Jan 24, 2022 | Tax Planning
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...
by Amrita Thakur | Jan 24, 2022 | Tax Planning
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...
by CA Nidhi Tanna | Jan 24, 2022 | Tax Planning
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....
by Damini Patil | Jan 24, 2022 | Tax Planning
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...
by Kavita Singh | Jan 24, 2022 | Tax Planning
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...
