Under India’s income tax law, deductions are allowed on interest payments of education loans under the provisions of Section 80E. This guide will elaborate on the various aspects of this section and its benefits. … READ FULL STORY
A ‘benami’ property is one that is purchased in the name of a person, who is not the real beneficiary. The person, in whose name the property is purchased, is known as a ‘benamidar’. … READ FULL STORY
To better collect taxes, the deduction of tax at source, also known as TDS, has proven to be a valuable tool. The stress of paying taxes and submitting income tax returns is lightened for … READ FULL STORY
The due date for filing income tax return (ITR) for FY 2021-22 is July 31, 2022. Those earning up to Rs 2.50 lakh in a financial year are not liable to file an income … READ FULL STORY
With the evolving technology and Digital India Movement, the income tax department has shifted its analog tax payment system to digital. Through the e payment system, individuals can pay their taxes online using savings … READ FULL STORY
Advance tax payment is a monetary liability that individuals and companies in India, that earn a specific type of income, must fulfil. This guide explains advance tax and related aspects. We also discuss the … READ FULL STORY
For online tax payment or e tax payment, taxpayers must use Challan 280. This guide will explain Challan 280, when is it used, which income taxes are paid using Challan 280 and how to … READ FULL STORY
Laws governing property ownership by non-residents in India are not only different from the laws governing residents, they are also quite complicated. Even though there is a wide range of assets that NRIs can own … READ FULL STORY
Those who have deducted tax at source (TDS) need to stick to the TDS return due date in case of TDS return filing. Until the TDS return is filed, Form 26AS will not be … READ FULL STORY
To file taxes in India, taxpayers must have a clear understanding of the difference between a financial year and an assessment year. This guide will help you learn that. What is a financial … READ FULL STORY
Property has been one of the oldest investment avenues in India, which existed before the advent of various financial products like direct equity and mutual funds. If you have given commercial space for rent, … READ FULL STORY
To calculate the income tax, there is no need to visit a chartered accountant. The facility to calculate the income tax has been made available online by the Income Tax Department, through its online … READ FULL STORY
Suppose you live with a family member and receive HRA as part of your salary package. Did you know that there is a way to save taxes, in case you pay rent to the … READ FULL STORY
