18 Aug 2019
Keeping in line with the current popularity of online platforms, Income Tax Department too has stepped up its taxation filing process and made it a piece of cake for Indian taxpayers. Various direct taxes in the country can now be paid online without having to physically go to banks and stand in long queues
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17 Aug 2019
A senior citizen is an individual resident (man or woman) who is 60 years old or more but below 80 years as on the last day of the previous year (born on or after April 1st, 1935 and before April 1st, 1955). . According to a Central Board of Direct Taxes directive, cases of senior citizens cannot be scrutinised unless an assessment is necessary on .... more
Tax Exemption for Senior Citizens
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16 Aug 2018
Income from other sources is one of the five heads of income that the Income Tax Act, 1961 broadly classifies income under. This category includes earnings which can't be accounted for under any of the other heads of income viz. Income from Salary, Income from House Property, Profits and Gains from Business or Profession and Income from Capita.... more
Income Tax on Income from Other Sources
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14 Aug 2018
Individuals are expected to compute the final liability of income tax after deducting the TDS amount from the source of income as well as the advance tax payable for the financial year. When the year is almost over, if there is any tax pending before filing an individual’s income tax return, a final amount that the individual is liable for is.... more
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13 Aug 2018
Capital gains is the profit that the assesee realizes when he sells the capital asset for a price higher than its purchase price. The transfer of capital asset must be made in the previous year. This is taxable under the head ‘Capital Gains’ and there must exist a capital asset, transfer of the capital asset and profit or gains arising .... more
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