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With the govt having mandated compulsory e-filing of income tax returns of all assesses with Income over Rs. 5 Lakhs pa, manual filing of income tax returns has reduced drastically...

Most of the Indians are under the impression that a PAN Card can only be allotted once a person turns 18 years of age. However, this is a myth as...

At the time of any real estate transaction, there are several taxes on sale of property. Some of these taxes on sale of property are to be borne by the...

Some employers provide medical reimbursement facility to their employees for the medical expenses incurred by the employees. This article explained the levy of Income Tax on Medical Reimbursement provided by...

The Income Tax Department releases the updated ITR Utility every year for online income tax efiling which can be downloaded free of cost. Till now, the ITR Utility Sofware was...

To promote the Retail Investor to invest in Shares and Mutual Funds, the Govt has introduced the Rajiv Gandhi Equity Saving Scheme (RGESS) which allows a deduction under Section 80CCG...

Loss from House Property is a fairly popular scenario and commonly arises while filing the Income Tax Return. In this article, we would mainly be focussing on the Reason for Loss...

Deduction under Section 80GGA is an Income Tax Deduction for Donations made for Scientific Research or Rural Development. The whole amount given as donation to the institutions specified under Section...

As per Section 14 of the Income Tax Act, for the purpose of charging of tax and computation of total income, all incomes are classified under the following 5 Heads...