Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The Income Tax notice was recovered from the house of Baljeet Kaur at Shahabad in Kurukshetra in Haryana where Papalpreet and Amritpal had taken shelter on March 19 and 20 before fleeing from there.
While one can file an updated return, there are certain caveats, warns rediffGURU Mihir Tanna.
Submitting a late return helps you stay compliant with tax regulations and avoid legal issues.
The party has contested the reassessment proceedings, claiming they were barred by limitation.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
With taxation anguish already upon you with the financial year about to end in a month, check out what income tax rebates are available to you.
Always remember to check whether the recipient of the charity has valid 80G approval
Various start-ups have raised concerns on notices sent to them under the Section 56 of Income Tax Act to pay taxes on angel funds received by them.
The three year lock-in period enables ELSS fund managers to invest in high conviction stocks for a long period of time because of relatively less redemption pressure, says Dwaipayan Bose
It's that time of the year again when one needs tobegin calculating their tax liabilities.
What many don't realise is that including their spouse and children in their tax planning can enable them to reduce their tax burden legally.
By acting now, you can step into 2025 with your finances in order and without unnecessary penalties.
Several start-ups have raised concerns over taxation of angel funds under Section 56 of the Income Tax Act, which provides for taxation of funds received by an entity.
'If a taxpayer opts for the new tax regime once, he can only switch back to the old tax regime once in his lifetime.'
If you have a health insurance policy, you can earn benefits on premiums paid on health check-ups, says Sajja Praveen Chowdary, head-Term Life Insurance, Policybazaar.com.
The Central Board of Direct Taxes has proposed that the sale of capital assets of a company operating in India, but registered overseas
Mihir Tanna, Associate Director, S K Patodia & Associates, will answer your personal income tax queries.
A five-judge constitution bench headed by Chief Justice D Y Chandrachud held that the 2018 scheme was 'violative' of the constitutional right to freedom of speech and expression and right to information.
Several income tax proposals, including 30 per cent tax on income from trade in cryptocurrencies will come into effect from Friday. Also, the revised norms for levy of 1 per cent TDS (tax deducted at source) on sale of immovable property exceeding Rs 50 lakh will come into effect from April 1, the beginning of the new financial year. As per the revised norms, TDS of 1 per cent shall be deducted on consideration or stamp duty value, which ever is higher, as against the earlier provision of consideration.
The Central Board of Direct Taxes has said the government has not introduced any new provision regarding the chargeability of tax on jewellery.
A case study on why the Rs 1 lakh (Rs 100,000) tax-free investment limit for Section 80C of the Income Tax Act is ridiculously low and impractical.
Banks offer a wide range of group insurance plans -- personal accident, health, hospital cash, home insurance, credit protection, and critical illness.
Several executives argue that UPI has the potential to grow tenfold, but warn that the absence of a monetisation model risks stagnating the real-time payments system, which has been recording all-time-high transaction volumes every year.
The suspected undisclosed income in these cases could reach as much as Rs 15,000 crore.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
A bench of Justices BV Nagarathna and N Kotiswar Singh, which issued notice on the plea of the Congress against the March 13 high court order, however, said the ITAT can proceed on the political party's appeal.
'Most young taxpayers prefer income tax filing to be flexible yet straightforward.'
They said the Left party is consulting its lawyers to challenge the notice of the tax authorities.
Union Budget 2009-10 has been mildly positive for the power sector.
The regulator has sought an increase in the investment limit for tax-saving equity mutual fund schemes to Rs 200,000 from the current Rs 150,000.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Failure to disclose any income can lead to penalties and legal issues.
Understanding tax residency rules and maintaining proper documentation is imperative to ensure smooth tax compliance.
The Income Tax Department has now decided to provide full details of tax returns of political parties under the RTI Act after the Central Information Commission (CIC) issued it directives in this regard.
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