Tag: Income Tax, India
New ITR Forms: Additional Reporting
The income tax department has notified the income tax return forms for assessment year 2019-20. There are a number of changes made in the...
Project Insight: 360 degree tax profiling
From April 1, the Income-Tax department will keep a check on taxpayers’ comprehensive profile, including transactions, relationships,...
How Section 80C works
An individual or an HUF can reduce up to ₹1,50,000 from their total taxable income through Section 80C for the financial year...
Real returns from FDs at 7-year high
With inflation undershooting the monetary policy committee’s target band and persistently high deposit rates, real returns from fixed...
Income tax exemption limit on gratuity doubled to ₹20 lakh
The labour ministry said that the income tax exemption limit on gratuity has been doubled to ₹20 lakh from the existing ₹10 lakh, a...
Interim Budget 2019: Cheer for taxpayers
Interim Finance Minister Piyush Goyal has proposed a few key changes to cheer the low-income and middle-income group individual taxpayers....
Sections 80C – 80U: Lesser Known Facts
80C: Deductions up to Rs.1,50,000 is allowed in a financial year on the following expenditure or investment made on spouse and/or children:...
Tax Changes: 2018
Here’s a look at how 2018 was for your taxes: TAX ON EQUITY: On the direct tax front, this year’s budget brought in a lot of changes....
Arbitrage Funds decoded
With volatility on the rise in the run up to the elections, many financial planners recommend arbitrage funds to investors who are...
Do not do these transactions!
In a bid to implement the government’s mission to make India a cashless or less cash country and weed out corruption, the Income Tax...
