Missing ITR deadline will lead to double penalty, Finance Ministry

The income tax department received numerous requisitions to extend the last date…
Tax

Implication of long-term capital gain tax for transaction in US stocks

Determining residential status Firstly, to determine the applicability of long-term capital gains,…
Tax Exemption

How to e-file ITR on https://www.incometaxindiaefiling.gov.in/home?

The due date for e-filing your income tax return is 31st December…

CBDT to Verify UDIN Generated in ICAI Portal for Tax Audit Reports

The Institute of Chartered Accountants of India (ICAI) had made the generation…

Tax on capital gains and rental income from inherited property

An individual may inherit property under a will or through succession. The…
Tax Exemption

What is Pradhan Mantri Jeevan Jyoti Bima Yojana?

India Post Payments Bank (IPPB) has partnered with PNB MetLife India Insurance…
Tax Exemption

Income tax benefits after availing a housing loan

To keep the housing sector of India afloat and keep the taxpayers…
Tax Exemption

Changes in ITR forms – ITR-1, ITR-2 and ITR-V

CBDT notified the new ITR forms from ITR-1 to ITR-7 by incorporating…

Tax Query: Do I need to pay tax on the sale of my personal assets?

I am planning to sell my motor car, which I use for…

4 Reasons Why Mutual Funds are Better Than Bank FDs

Mutual funds are the most buzzing investment option in recent times. Majority…