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5 mins read
How to calculate income tax on stock market earnings
Incomes of all kinds are taxable. While a few financially sound people understand the tax calculati…
3 mins read
What is an updated return, who can file it and are there any penalties to pay?
It is worth noting that you can file an updated return even if you did not file the original ret…
1 min read
Due date for filing income tax returns extended to March 15, 2022 for individuals whose accounts are to be audited
The government has extended the deadline to file income tax returns for assessment year 2021-22 to …
4 mins read
Tax saving countdown – With 2 months to go, options to consider under 80C
Now that we have stepped into the new year, there are just three months left before the current fin…
3 mins read
Tax man introduces ITR 1 and ITR 4 forms – Here’s what it means
The Central Board of Direct Taxes (CBDT) has revealed the Income Tax Return (ITR) Forms 1 and 4 for…
2 mins read
Date for filing income tax returns extended to March 15, 2022
For fiscal 2019-20 i.e. AY 2020-21, limit was ₹5 crore for businesses and ₹50 lakh for profess…
PTI
3 mins read
Tax implications on income of a minor – What every parent should know
Income earned by a minor child from activities involving their skills, talent, or specialised knowl…
3 mins read
Have foreign assets or income? Not disclosing it may lead to heavy penalties
Recently, the IT Appellate Tribunal of Mumbai imposed a penalty of ₹10 lakh per year on taxpayers w…
4 mins read
Home loan tax deductions: Self-occupied vs rented, the differences
Buying a home is undoubtedly one of the biggest financial commitments in one’s life. And since it i…
2 mins read
Income tax returns with instant acknowledgment will help avoid penalty due to delay in processing
The feature will facilitate taxpayers, who have come almost close to the deadline of filing re…
2 mins read
Do not forget to check form 26AS before filing your income tax return. Here’s why
If you have been paying income tax, there is something called 26AS you should be aware of. It is an…
3 mins read
Made a mistake while filing tax returns? Here’s how to file a revised ITR
The process of revising a tax return involves making necessary updates and corrections to a previou…
4 mins read
Income tax return form will have a whole new column just for crypto next year
The government will from April 1 charge a 30 per cent tax plus cess and surcharges, on such tran…
PTI
3 mins read
Changed your job in the last financial year? Here’s how to get your tax filing in place
If you have changed your job recently, any time before 31 March 2023, you need to be more careful w…
3 mins read
The new deadlines for tax saving investments, income tax returns, and linking PAN with Aadhaar
Amid the uncertainty around the COVID crisis, the government has yet again deferred the deadlines f…
2 mins read
Reminder — You have time till June 30 to make tax-saving investments for the last financial year
It’s not uncommon for the new-age millennial to wait till the last minute to make good on the tax…
2 mins read
Relief for taxpayers: Deadline to file income tax returns extended further to January 10
The extension of the deadline is specifically for those individuals whose accounts do not requir…
2 mins read
Decoding ITR forms: Which one should you use to file your taxes?
Tax filing season is here. On the income tax website there are various income tax forms available t…
1 min read
Here’s how sending your child to school can help you save on taxes
As Finance Minister Nirmala Sitharaman gears to announce the union budget next month, Indians are l…
3 mins read
How HRA exemption can help you save tax in 2023-24
HRA exemption is available only if you are living in a rented house and opt for the old tax regime.…