With the increase in instances of transactions in higher denominations, the Income Tax Department is working in solidarity with other government departments to trace those... Read More
Diksha Garg
The taxpayers have always expressed their concern over the power vested with the assessing officers, which in many cases has led to corruption and harassment.... Read More
It is necessary to understand the basic terms related to income tax: What is Capital Gain? The Excess income from the sale or exchange of... Read More
According to Section 45(2) of the IT Act, when an assessee converts a capital asset into stock-in-trade of his business, it is considered as a... Read More
The contribution of salaried employees towards the overall tax collection is quite significant owing to their large numbers. Allowances and deductions allow them to reduce... Read More
An annuity is one of the stipulated tax-saving tools that allow one to reduce his taxable income, and further the tax liability. However, lower returns,... Read More
if you are investing more than 175,000 in various items eligible for deduction, you must stick to Old Tax Regime, New Tax regime is only good for those, who do not intend to invest in any tax saving option... Read More
A trust is a relationship among three parties where a trustee/group of trustees holds some assets on behalf of a beneficiary. This relationship is formed... Read More
If you are working with an MNC in the present financial year 2020-2021 and your salary and earnings from investments add up to a round... Read More
Tax avoidance frauds: Income Tax Department dishing out rewards of up to Rs 5 crore to informants
2 min read
To back PM’s step against black money and tax elusion, the central government replaced the 2007 version of the Income Tax Informants Reward Scheme with... Read More
