The countdown for paying income tax and filing returns has begun. All taxpayers have to file their returns by July 31. While filing ITR, every taxpayer tries to save taxes. But do you know that Hindu ...
A Hindu Undivided Family (HUF) consists of individuals who have lineally descended from a common ancestor. In addition to Hindus, even Jain, Buddhist and Sikh families can create HUFs. The concept of ...
Question: What are the benefits of forming an HUF for tax savings? How can an HUF be formed/ created? Answer given by Dr.
An HUF (Hindu Undivided Family) is an exclusive tax entity created under the law to give recognition to the joint family in addition to the individual persons in the family. Hindus, Jains, Sikhs and ...
Income tax exemption essentially refers to the ways in which one can end up saving huge chunks of one's savings. The Income Tax Act has put these provisions in place to inculcate a habit of saving ...
HRA tax exemption rules: House Rent Allowance (HRA) is a common component of many employees' salary packages. Unlike basic ...
As the Income Tax Return filing for FY 2023-24 begins, it is very important to know whether you should file your Income Tax Return or not. Here is all you need to know Section 139 of the Income Tax ...
Not all taxpayers are eligible for this benefit. The benefits are restricted to salaried employees and pensioners. Businesspersons or self-employed professionals cannot avail of the tax break.
Your credit score is more than just a number. A better score can help unlock the things you want most - like a new credit card or best loan rates in the market. Medical Bill Tax Exemption is no longer ...
There were no changes announced in the income tax slabs (both for old and new tax regimes) for FY 2022-23 in Union Budget 2022. The income tax slabs and rates have been kept unchanged since financial ...
Even as the Board of Control for Cricket in India has taken a reconciliatory approach towards the Income Tax department, it got a shot in the arm recently when a tax tribunal ruled that the board ...
Executive Director & National Leader of GST, Indirect Tax & Customs/Data Privacy Lead Assessor/Faculty at NACIN & WB State GST, Empanelled Consultant with ADB ...