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Can an assessee pay House Rent to his parents and claim relief? Would there be any legal complications?

Income Tax Rajbir Chawla -
While there's no specific case law directly addressing this scenario, the general principles of HRA exemption apply. The tax authorities will scrutinize the genuineness of the rent payment and the relationship between the assessee and parents.

Boost Your Business & Reduce Taxes: A Guide to Maximizing Benefits Under Section 80JJAA

Income Tax Rajbir Chawla -
Section 80JJAA of the Income Tax Act, 1961 offers tax benefit to businesses that create new jobs in the formal sector. It allows a...

What is remedy to taxpayer if the Tax deductor fails to deposit the TDS or fails to file TDS Return

Income Tax Rajbir Chawla -
If deductor fails to deposit TDS, don’t worry as there are some landmark cases in India that support the assessee's (taxpayer's) rights when the deductor (employer) fails to deposit TDS with the government:

What is Income Tax Liability on Income from trading in Future and Options

Income Tax Rajbir Chawla -
Income from Futures and Options (F&O) and regular share trading income differ in terms of instrument traded, purpose, and taxation. Before coming to How the...

The Importance of Filing Your Income Tax Return on Time: A Financial Must-Do

Income Tax Rajbir Chawla -
As the time to file Income Tax Return for Financial year ending March24 (Relevant to Assessment Year 2024-25) is approaching, It is time to...

Is Addition made by Assessing officer on basis of mismatch between AIR and F26AS Justified

Income Tax Rajbir Chawla -
The answer is nuanced and depends on several factors. While a mere mismatch between Annual Information Return (AIR) and Form 26AS doesn't automatically warrant...

Salient Changes in the new Income Tax Rules relevant to Assessment Year 2024-25

Income Tax Rajbir Chawla -
Some major changes in Income Tax Rules relevant to Assessment Year 2024-25 are as below: Changes in Income Tax Slabs: The income tax slabs under the...

To What limit can you hold Gold at Home-Taxation on Sale of Gold

Income Tax Rajbir Chawla -
Why people prefer to Invest in Gold Gold has been a popular investment in India for ages. There are various reasons why people, especially Indians,...

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