R N Lakhotia

Got a gift from a relative? No tax on it

Rediff.com 27 Sep 2007

Under the provisions of Section 56(2)(vi) certain gifts are liable to income tax as "income from other sources". However, this provision is applicable only for individuals and Hindu Undivided Families (HUFs).

Zero tax on income of Rs 11.20 lakh?

Rediff.com 11 May 2007

There will be zero Income Tax on income of Rs. 11.20 lakh (Rs 1.12 million). Impossible? No, it isn't.

All these incomes are tax-free for FY 2007-08

Rediff.com 20 Apr 2007

Here are some of the important items of income, which are fully exempt from income tax and which can be utilised by a resident individual Indian assessee for the purpose of tax planning.

Stories by R N Lakhotia

Got a gift from a relative? No tax on it

Zero tax on income of Rs 11.20 lakh?

All these incomes are tax-free for FY 2007-08