Should the Income-Tax Act have been simultaneously amended to exclude Sikhs and Jains from the definition of HUF once they were declared a minority by the government? Sanjeev Nayyar discusses the curious dichotomies in our laws.
England beat India by eight wickets in rain-affected 2nd women''s ODI to level series 1-1
Taxpayers required to file ITR-2 or ITR-3 can now download the Excel utilities from the I-T department's e-filing portal, fill in their details offline.
Ccertain tax advantages are attached with HUF under the income tax and wealth tax laws.
'Experts and stakeholders have raised concern over the refund provision in the draft Bill. That was a drafting error, which will be rectified,' a government official said.
It was then plain sailing for the Tuscan, who read his opponent's serve perfectly to break repeatedly and used his elegant single-handed backhand to perfection to set up a clash with wildcard Valentin Royer or lucky loser Daniel Elahi Galan.
Think again. Not filing could cost you. Here's who must file, who should, and why it matters. What's more, the deadline to file your ITR has been extended till September 15, 2025
Until now, salaried individuals having income under the head LTCG were required to file Form ITR-2.
World number one Jannik Sinner defeated record-chasing Novak Djokovic 6-4, 7-5, 7-6(3) in a clash of generations on Friday to set up a blockbuster French Open final showdown with defending champion Carlos Alcaraz.
IMAGES from the French Open at Roland Garros, in Paris, France, on Wednesday.
Liverpool moved one win away from sealing the Premier League title as substitute Trent Alexander-Arnold secured a 1-0 victory at Leicester City
Schutt (3/12) also equalled South Africa's Shabnim Ismail's record scalp of 43 wickets across all editions of T20 World Cup.
What does this mean for you? Ramalingam Kalirajan explains.
The Income Tax department on Friday said it has notified I-T return forms 2, 3 and 5 for filing tax returns for assessment year 2024-25. The ITR-1, which is filed by individuals having a total income of up to Rs 50 lakh, and ITR-6 for companies were notified earlier in December 2023, and January 2024, respectively.
India captain Harmanpreet Kaur on Sunday rued failing to capitalise on loose balls during her 63-run stand with Deepti Sharma for the fourth-wicket, as he side suffered a nine-run loss to Australia in a must-win women's T20 World Cup match in Dubai.
The Income Tax Department has notified ITR forms 1 and 4, which are filed by individuals and entities with annual total income of up to Rs 50 lakh for FY 2023-24 (AY 2024-25). Individuals, besides Hindu Undivided Families (HUFs), firms having income up to Rs 50 lakh and those having earnings from business and profession in the current fiscal (April 2023-March 2024) can start filing returns for the income earned this financial year.
The government on Tuesday proposed a relief to taxpayers with respect to capital gain tax on real estate properties by giving them the option to choose between 20 per cent and 12.5 per cent tax rates.
The Securities and Exchange Board of India (Sebi) on Monday proposed expanding the scope of regulations prohibiting insider trading to a wider group of people, including those connected to the officials in access to price-sensitive information. The market regulator has suggested changes in the definition of "connected persons" and "relative" to address any gaps in the norms and possible violations.
'If I got more work, I would do even more! Recently, I did the Tanishq ad.' 'I keep working because I am fit. I love acting, that is my relaxation.'
Income Tax department have released different tools to help you file your ITR-3 form easily.
Andaz Apna Apna is practically the most quoted film since Sholay, observes Sukanya Verma, as she celebrates 30 years of this cult classic movie.
'Earlier there was no provision for considering TCS collected from the taxpayer for overall tax computation.' 'Now, credit will be given by the employer for TCS already collected to consider net tax to be deductible.'
The primary market will see a flurry of activity in March, with at least three companies including Gopal Snacks will float their initial public offerings (IPOs) in the upcoming week to raise Rs 1,325 crore collectively. The other two companies which are set to launch their maiden public issues are -- RK Swamy and JG Chemicals. Additionally, Bengaluru-based luxury furniture brand Stanley Lifestyles and Krystal Integrated Services are expected to float their initial share-sales later this month, according to merchant bankers.
The 21st Law Commission said the special status given to the entity of HUF was a 'so-called gift by the British', who could not comprehend the complex socioeconomic structure of Indian families. 'Now, this status is being used for the evasion of tax only,' it said.
'PPF carries minimal risk.' 'Its fixed-income nature allows investors to diversify their portfolios.'
'If an individual makes significant financial investments, she should stick to the old regime.' 'If the individual prefers straightforward computation without any tax benefits, the new regime would be suitable.'
Former US Open champion Dominic Thiem huffed and puffed his way into the main draw of the Brisbane International on Saturday, but not before a hissing intruder slithered onto the court and briefly halted play.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
'Tax is not required to be deducted from specified payments if a recipient files a self-declaration with the deductor for no deduction of tax.'
IMAGES from Day 4 of the Wimbledon Championships, at the All England Lawn Tennis and Croquet Club, London, on Thursday.
Less than half the ministers in Team Yogi are not long-term BJP members. Many old-timers have been dropped.
'Tenants who pay rent above the threshold limit must be extra cautious about TDS fillings.'
Bureaucrats are finding it difficult to keep pace with Modi's working style -- from long work hours to faster clearance of files -- it is a telling tale in the corridors of power. Vrishti Beniwal finds out
Novak Djokovic huffed and puffed but forced his way into the fourth round of the French Open.
Alice Capsey brought up the joint-fastest half-century at a Women's T20 WorldCup during her stunning knock
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.
Prashant A Bhonsle explains the tax benefits you can avail under Section 80E of the Income Tax Act.
Do you know what tax-loss harvesting is? Does it help you save tax? Financial planning expert P V Subramanyam offers all the answers.
A new schedule has been added to report income from cryptocurrencies and other Virtual Digital Assets.
