Tax Benefits by taking of Loans under the Income Tax Act, 1961 Generally, we consider loans to be a necessary financial burden, particularly when we’re looking to buy something big. There are loans for almost whatever you need, and they work because they can help you get closer to your dreams, whether it’s buying a […]
Category Archives: Income Tax
Income Tax is the tax which directly levy on income of any personal.Central Board of Direct tax manage all the things related Direct Tax.
Section 79 and its implications on globally As after prolonged litigation and different interpretations across judicial hierarchies, certain provisions of the Income Tax Act, 1961 (the Act) still require clarifications to ensure that they meet the intent with which the provision was introduced and do not cause undue hardship to taxpayers.It is the provision is […]
Access I-T return filing account without updating contact profile details The income tax department has relaxed to updating contact profile details the ‘compulsory/forcible’ updation of tax payer details on its return filing website. When this new requirement was introduced on September 22, a tax payer was unable to log in to their e-filing account without […]
Low inflation means you pay more capital gains tax Prices rising at a slower rate should be good news. But not if you have earned long-term capital gains tax. The consistent decline in inflation in the past 3-4 years means that long-term capital gains hardly can be escape tax through indexation.
Does the senior citizens savings scheme qualify for section 80C benefits? I am a retired government employee. In June 2017, I deposited Rs 15 lakh in the post office senior citizens saving scheme. Does it qualify under section 80C tax benefits? If so, do I need to save Rs 1.5 lakh as equity-linked savings scheme […]