Income Computation and Disclosure Standards (ICDS): in Shorts
In exercise of the powers conferred by sub-section (2) of section 145 of the Income-tax Act, 1961, the Central Government…
Category: Income Tax Articles
FAQs on filing the income tax return for AY 2023-24
What is return of Income ITR stands for Income Tax Return. It is a prescribed form through which the particulars of…
Income Tax Returns: Types of forms , which form for whom and Due Dates
What are the forms of return prescribed under the Income-tax Law? Under the Income-tax Law, different forms of returns are…
e-Filing of Income Tax Returns: All you need to know
The user can file the Income Tax Return (ITR) in two ways i.e. online and offline. The steps required under…
Rent Paid to Wife Qualifies for HRA Exemption u/s 10(13A)
Generally, it is said that a husband cannot give rent to wife to avail HRA exemption as it is viewed…
IT Deptt. told to adjust tax paid by wife with demand on husband
MUMBAI: The Income-tax Appellate Tribunal’s (ITAT) Mumbai bench recently dealt with a case where the long-term capital gains earned by…
Now you can ‘Know Your Refund Status’ on Income Tax e-filing Portal
Till now taxpayers had to check their income tax refund status on the TIN-NSDL website. However, the Income Tax Department…
ITR filing: Not linking PAN with Aadhaar can cost you Rs 6,000
If you didn’t link your PAN with Aadhaar by June 30, 2023, then from July 1, 2023, your PAN will…
Section 194 Q TDS on Purchase of Goods: All you need to know
Section 194Q of the Income Tax Act, 1961 provides that every buyer who is responsible for paying any sum to…
ITR filing: These common mistakes may attract income tax department notice
Filing income tax returns (ITR) for individual taxpayers with salary income and one house property is not rocket science. The…
No LTCG benefits on debt MFs: 7 key changes that are coming into effect from April 1
The government has announced a slew of changes in the income tax rules that will come into effect from the…
Income Tax Benefits on Home Loan that you must know
Home loans come with tax benefits that can help reduce the overall tax liability of the borrower. The principal amount…