There are some consequential amendments made in the IT provisions by the CBDT about the expenditure and payments. The changes will be relevant from October... Read More

Every administrative department of the government is on the road to digitalization. Old practices are now being done online to achieve efficiency, and optimally utilize... Read More
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
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
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