The government had on June 16 increased the upper age limit for recruitment under the scheme to 23 years from 21 for the year 2022. Those recruited under the Agnipath scheme will be called 'Agniveer'.
Anything received under a Will or as legal heirs under personal law as inheritance is not taxed. Taxpayers can disclose their income either on accrual or...
As people tend to miss out on their tax filing date, the I-T department has reminded people to file their returns within the due date.
The Central Board of Direct Taxes (CBDT) also said that the payer/deductor need not check the taxability of the sum in the hands of the recipient, and the...
The Income Tax Department has come out with popular snakes and ladders board games and Motu-Patlu comic strip to spread tax literacy among children and young...
Advance tax needs to be paid all through the year in four instalments in the current financial year. The date of first instalment is on June 15 in this year.
Talking to PTI, Singh said the number of income tax returns last fiscal was 7.14 crore against 6.9 crore in the preceding financial year, showing a clear growth
If the total taxable income for the year does not exceed Rs 5 lakh, a resident individual is eligible for a tax rebate of up to Rs. 12,500 under Section 87A....
After many users complained of issues while accessing the I-T portal and reported that it was hacked on Tuesday, which also happens to be the first launch...
Under Income Tax laws, income earned on the gifts made by a spouse is required to be clubbed with the income of the spouse giving the gift
However, the per capita income based on Net National Income (NNI) at constant price grew by 7.5 per cent in FY22 over the previous year.
There are no tax restrictions that limit how many properties one may own or how much home loan benefit one can receive. But Section 80C benefit under home...
If you are selling a house in India as an NRI, know the rules regarding the taxes on the capital gains and TDS. You can also make use of the available...
Even where the cost of acquisition for inherited shares is nil, one will still get a deduction for the deemed cost of acquisition for tax calculation purposes.
The Central Board of Direct Taxes (CBDT) has issued a circular regarding this under sections 206AB and 206CCA of the Income Tax Act, 1961
Short-term capital gains from all other capital assets are treated as regular income and are required to be added to your regular income and taxed at the...
If you are someone who is facing an internal battle between saving & investing, and not able to decide which way to go, it is always a good idea to learn about...
A lot of people are investing in gold, thanks to the global instability and uncertainty. But they should also keep themselves updated on how each of these...
If you have earned long-term capital gain on the sale of a residential house, then you need to utilise it towards the construction of another house within a...
What should you do if you fail to file or correctly file your income tax return? Should you go for reopening your assessment or file an updated tax return?...
The new form (ITR-U) will be available to taxpayers for filing updated income tax returns for 2019-20 and 2020-21 fiscals.
Are you unsure about whether you should file an income tax return (ITR) in India? Read on to know more
There are no major changes seen in the income tax return forms notified for FY 2021-22. However, there are five major changes that taxpayers need to keep in...
Retirement planning is a vague concept in India, and many do not plan for it while in their working years. As a result, they either invest too little or in the...
For financial year 2022-23, an early start in tax planning will help make the right decisions. Here’s a simple 2-step approach along with easy-to-understand...
