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
Check how you can use HUF as a tool of tax planning and how to make a HUF Creation deed... 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
The Indian government is trying its best to make the process of filing IT returns seamless and easier. Taking into consideration the COVID-19 threat the... 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

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