Sun. Dec 15th, 2024

Income Tax

  • Your guide to understanding and filing income tax returns.
  • Simplify your tax filing process with expert advice.
  • Learn about the different types of income tax, including individual income tax, corporate income tax, and more. Understand the income tax slabs, deductions, and exemptions applicable to various income sources.
  • Get expert advice on tax planning and saving strategies to minimize your tax liability. Learn how to file your income tax return accurately and on time, avoiding penalties and interest charges.
  • Stay up-to-date with the latest income tax news, circulars, and notifications. Access useful tools like income tax calculators, TDS calculators, and form 16 download links.
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.... Read More
In the event any unreported income is discovered by Income Tax Department during assessment, an assessee is liable to pay penalties which may extend upto 300% of the tax sought to be avoided besides Income Tax and the Interest due thereon... Read More