We often get to hear a term called as ‘Self occupied Property (House).’ This comes into picture, when we talk about, House Rent Allowance (or) while calculating the Income from House property (or) while claiming the tax deduction on home loan interest amount. So, what is a Self occupied property in terms of Income Tax? […]
Tax Planning
What is GST (Goods & Services Tax) : Details & Benefits
The present structure of Indirect Taxes is very complex in India. There are so many types of taxes that are levied by the Central and State Governments on Goods & Services. We have to pay ‘Entertainment Tax’ for watching a movie. We have to pay Value Added Tax (VAT) on purchasing goods & services. And […]
Why you should think beyond TAX when investing!
Death and Taxes are certain. Death happens only once. But, tax planning has to be done every year. “Death, taxes and childbirth! There’s never any convenient time for any of them.” – Margaret Mitchell ( Gone with the Wind ) Tax planning is a big head-ache to many people. Some are so obsessed with saving tax […]
Income Tax Department’s New Website
Income Tax Department’s new website has been made operational with entirely new frame and flavor. New contents, information and number of new useful links are provided in the new website. The website was launched just a couple of days back. The IT department’s website now looks more user-friendly. The contents are very well presented and […]
Turn Short Term Capital Losses on Stocks into Tax Gains
We all want to make profits on our investments. No one wants losses. Investments, especially in stocks or equity mutual funds attract lot of risk. So sometimes, we may end up making losses on these investments. These can be short term capital losses or long term capital losses. Is there any option to turn these […]
How to pay Outstanding Income Tax Demand online?
The various steps of Income Tax filing are – Filing Income Tax Returns, Mailing ITR V form to Centralized Processing Cell (CPC- Bangalore) and Receiving acknowledgment for ITR V. After receiving the ITR V acknowledgment, sometimes you may receive an email from Income Tax Department within one year of Filing the Tax Returns. This email […]
