Diksha Garg, Author at Income Tax News, Judgments, Act, Analysis, Tax Planning, Advisory, E filing of returns, CA Students

Tax Implications by Owning Residential Property by an NRI in India

February 19, 2019 Diksha Garg Double Tax Avoidance Agreements (DTAA), long term capital gains, Short Term Capital Gains, Tax Implications by Owning Residential Property by an NRI in India

NRI’s would remit funds for various reasons such as maintaining their family, or repaying the loans, etc. As time passed

Income Tax

An NRI? Here are the Tax liabilities you should know

February 4, 2019February 4, 2019 Diksha Garg An NRI? Here are the Tax liabilities you should know, Non-resident (External) bank account ( NRE account), The Central Board of direct taxes (CBDT)

Liability to pay tax in India depends on the residential status of the taxpayer. The residential status of the taxpayer

tax-calculators

Tax Liability of an NRE account

January 31, 2019 Diksha Garg Tax free interest NRE, Tax Liability of an NRE account, Taxation of NRA

NRE stands for NON-RESIDENT EXTERNAL. NRE is an Indian Rupee denominated account which gives complete security to the Non-Resident Indian.

Income Tax

Better understanding of Assessment or Reassessment U/s 147 and 148 of Income Tax

January 28, 2019 Diksha Garg Better understanding of Assessment or Reassessment U/s 147 and 148 of Income Tax

Section 147 and 148 of the Income Tax Act permits the Income Tax Department to reopen and reassess one’s IT

Income Tax

The Importance of Form 16: Time to make a note of it, Taxpayers

January 14, 2019 Diksha Garg Form 16, Income Tax, income tax credit for TDS, The Importance of Form 16

Form 16 is a TDS (Tax Deducted at source) certificate which is issued by an employer/bank/company as they deduct tax

Tax Planning

HUF- a tax planning tool to save Income tax

December 23, 2018December 23, 2018 Diksha Garg HUF- a tax planning tool to save tax

No one wants to shed their hard earned money in the form of taxes, but unfortunately, there is no escape

Housing

New House is in wife’s Name – Forget about tax-relief from the sale of the house

December 23, 2018December 23, 2018 Diksha Garg New House is in wife’s Name - Forget about tax-relief from the sale of the house

The Mumbai Bench of Income-Tax Appellate Tribunal (ITAT)’s denied the benefit to be sought from sec- 54 of the Income-tax Act. The reason behind this denial was that the new house bought by the taxpayer was not in his name but in the name of his wife and his adult daughter.