Many are not aware but your wife can prove to be of great help in saving income tax. The Government of India has made a special rule about women, under which husbands can take double benefit of exemption in tax. Here’s how you can do it. Health Insurance Amid the COVID-19 pandemic, everyone is...

Financial year 2021-22 marks some important changes in tax rules as far as taxpayers and tax filers are concerned. Some changes are substantive while some are procedural in nature. As a taxpayer, it is essential to know how these 10 tax reminders are relevant in FY22. Financial year 2021-22 marks so...

The Finance Act, 2020 has inserted a new Section 115BAD in Income-tax Act to provide an option to the co-operative societies to get taxed at the rate of 22% plus 10% surcharge and 4% cess For FY 2020-21, taxpayers can choose between two income tax regimes – the existing/old tax regime and the ...

The Income Tax Department and various investment platforms like bank, mutual fund houses, broker platforms, etc. have been discouraging cash transaction by tightening their rules for public in general in last few years. The Income Tax Department may send notice to the violator now as days in case ...

Starting tax planning process at the beginning of the financial year not only helps you align your investments with your financial goals but also allows you to comfortably utilise all the deductions and save maximum tax possible. Typically, many salaried start their tax-saving investment around Nove...

The Income Tax department, In order to provide relief to taxpayers amid the second wave of COVID-19 in the country, extended various Income Tax compliance deadlines, under the Income Tax Act 1961. In the light of multiple representations received to mitigate the difficulties being faced by various s...

The government has extended the timelines for various income tax compliances, including the filing of belated or revised return for 2019-20 fiscal, till May 31. The Central Board of Direct Taxes (CBDT) has said that the filing of the belated income tax return under sub-section (4) and revised return...