The Apex Court in one of its recent judgment held that non-filing of income tax return may lead to prosecution under the Income Tax Act.... Read More
Which LIC Policy Is Best For Me?
2 min read
Before you decide to buy any LIC policy you are supposed to ‘check and balance’ the financial stability you can get from different policies. The... Read More
If someone files his income tax return after the due date, he shall be liable to pay penal interest as per section 234 of the... Read More
Individuals are entitled to claim deduction under section 80E of the Income Tax Act, 1961 on education loan. Section 80E of Income Tax Act allows... Read More
Taxpayers in India whether they are salaried people or not, prefer to involve themselves in share trading as it is an easy way of earning... Read More
The general principle of filing income tax returns is that whosoever has an annual income beyond a certain exemption limit has to file his or... Read More
Income Tax- Due date under section 43B (i.e. due date of filing ITR) not applicable under section 36(1)(va) to employees’ contributions to PF/ESI etc. ... Read More
In the tax-planning season, most people rush to make investments to reduce their tax liability. It is found that individuals pay more taxes than they... Read More
All about Annual Information Return (AIR)
3 min read
According to the amended provisions of Section 285BA of the Income Tax Act, 1961, some assessees need to furnish an Annual Information Return (AIR) in connection with... Read More
The Supreme Court in a recent decision held that a defaulter of income tax cannot be absolved of paying penalty only for making a voluntary... Read More