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Legal heirs need to file returns for deceased

They do not have to pay tax from their own pocket and their liability is limited to the assets they inherit It's that time of the year when individuals get ready to file their income tax returns.......

Here's a brief guide to calculate your tax liability

Don't be intimidated by the long form if you have a small turnover and limited clients. Here's how to go about it. The new income tax return form, ITR-4, for professionals can be intimidating. The......

New I-T return forms will simplify filing for majority

Unless they have capital gains or assets abroad, most individuals will need to file ITR-1 or ITR-2A. Filing an income tax return will now be easier than before for most taxpayers. If you have......

Haven't received your I-T refund? This is what you must do

Check the status and immediately act on it With the introduction and streamlining of electronic clearing services (ECS) by the income tax department, taxpayers have started receiving their refunds......

Why you should deduct tax at source while buying property

Else, you’ll need to pay from own pocket with interest and penalty, notes Tinesh Bhasin On receiving a notice from the Income Tax Department, a client of Rajiv Jain, a chartered accountant,......

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