It is your obligation to file your income tax return. Although your employer is not providing you Form-16 it would be advisable for your file your return. While doing so just mention TAN of your employer to ensure that you get credit for the tax deducted frrom your salary income, says direct tax expert Vikas Gandhi.
Veteran Congress leader Prithviraj Chavan has said that his party has agreed not to raise the issue of V D Savarkar since the three Maha Vikas Aghadi (MVA) partners hold different views on the late Hindutva ideologue.
If you have traded in shares, your income will be considered as business income. Hence you will have to prerpare a profit and loss account, similar to that prepared by a trader and cliam all the expenses that you incurred for purchase and sale of shares. However while doing keep in mind that you will not be able to claim Securities Transaction Tax (STT) as expenses from the income, says direct tax expert Vikas Gandhi.
You cannot get any benefit u/s 80C for fees paid for your own studies. this deduciton is available only when tuition fees is paid for your children, says direct tax expert Vikas Gandhi.
To pay tax on capital gains, you first need to know whether the gain is short term or long term. If you have kept shares for more than one year the gain will be termed as long term otherwise short term, says direct tax expert Vikas Gandhi.
The alliance leaders are getting together for the third round of the brainstorming session in Mumbai, after Patna and Bengaluru, to chalk out their common campaign strategy to take on the NDA in the 2024 Lok Sabha elections.
Interest paid on loan on mortage of house will not bring the same tax deduction as from rental income, says direct tax expert Vikas Gandhi.
For claiming exemption from HRA, you need to provide rent receipt or rent agreement to your employer, based on which your employer will calcuate the exemption and deduct TDS accordingly from your salary, says tax expert Vikas Gandhi.
Speculation is rife in political circles over the past few days that he is likely to join the Eknath Shinde-led Shiv Sena.
Congress leader Rahul Gandhi must apologise and take back all his remarks against late Hindutva ideologue V D Savarkar before entering Maharashtra, Bharatiya Janata Party state chief Chandrashekhar Bawankule said in Nagpur on Friday.
In case of a physically handicapped person, he gets a threshold deduction of Rs 50,000 from the taxable income. Further if such disability is more than 80%, the limit of Rs 50,000 increase to Rs 75,000. Thus in your case you will be starting paying tax only when your income exceeds Rs 1,60,000.
Transfer of money from one bank to another will not amount to income and hence the same will not be taxable.
For being eligible for tax benefit, the minimum period of fixed deposit has to be of 5 years. Since the period you have mentioned is 4 years, you won't be eligible for the tax benefit u/s 80C.
Wealth tax is exempt upto Rs.1500000/-. Any excess wealth will attract tax at the rate of 1 per cent of the net wealth. This rate is irrespective of the slab rate of income tax in which you fall, says tax expert Vikas Gandhi.
Exclude travel allowance from your salary. This will reduce your taxable income. In addiiton to this you can invest upto Rs 100,000 either in Life Insurance, PPF, NSC, fixed deposit with bank and claim further further reduction, says Vikas Gandhi.
Car loan is not eligible for any tax exemption similar to that of house loan, says direct tax expert Vikas Gandhi.
Mortgage loan won't qualify for benefits under Income Tax, says tax expert Vikas Gandhi.
You cannnot take benefit for a home loan which has been taken in some other persons name, says tax expert Vikas M Gandhi.
Approximately 80 leaders from more than 26 political parties are expected to attend the third meeting of the INDIA alliance in the country's financial capital, they said.
The two-day deliberations, which will be held at Grand Hyatt in the suburbs, will begin in the evening of August 31 and from 10am on September 1. The meeting will be followed by a press conference, Raut informed.
'It is clear that economic policy and reform under this administration will always be afterthoughts, something to be carried out only when no other political concern intervenes -- when, in other words, the government feels safe and comfortable enough to take a moderate risk,' argues Mihir S Sharma.
The India Meteorological Department on Friday predicted that Delhi will likely receive light to moderate rain accompanied by thunderstorms for the next 4-5 days.
Loss incurred in F&O transaction is considered as speculation loss and this can be carried forward to subsequent years, provided you file your return within the due date, says direct tax expert Vikas Gandhi.
Direct tax expert Vikas M Gandhi offered some valuable tips on tax saving during a chat on Thursday.
Prime Minister Narendra Modi has honoured Hindu, Buddhist, Sikh and Jain refugees by giving them citizenship through Citizenship (Amendment) Act (CAA), Union home minister Amit Shah said on Tuesday and maintained there is no provision of stripping of anyone's citizenship in the new law.
In an hour-long chat on rediff.com on Thursday, direct tax expert Vikas M Gandhi offered many valuable tips.
Direct tax expert Vikas Gandhi offers some valuable tips.
One has to include one's savings bank interest while calculating one's taxable income and pay tax on the same, says direct tax expert Vikas Gandhi. In ITR, one needs to have schedule of income from other sources. For online payment of tax, visit tin.nsdl.com.
Gift received from relatives are exempt from tax and hence one does not have to pay any tax on such income, says tax expert Vikas Gandhi. One can show such incomes under Exmept Income schedule.
Income tax return has to be filed per person and not per income. Hence one has to file only one return with all the income included, says direct tax expert Vikas M Gandhi.
The Congress forget Modi has demigod status in Gujarat and there is no way he can be defeated in the state, argues Syed Firdaus Ashraf.
Gandhi, who is usually flanked by senior party colleagues, was also greeted by both President Droupadi Murmu and Vice President Jagdeep Dhankhar.
Gift is not regarded as an expense and hence whatever amount of gift you give, you will not be able to reduce it from your taxable income, says tax expert Vikas Gandhi.
2019 was the Bharatiya Janata Party's breakout year, when it stretched the boundaries of what was thought possible and ended up with 303 seats on its own steam. Now it is forced to play defence, on a pitch queered by too many variables, asserts Prem Panicker.
He said the Maha Vikas Aghadi alliance of three parties -- Sena-UBT, Congress and Nationalist Congress Party -- was formed to protect democracy and it was necessary to work unitedly for it.
Ahead of the Mumbai meeting, Bihar Chief Minister Nitish Kumar on Sunday said that a few more political parties were likely to join the opposition INDIA during its upcoming meeting.
'Most leaders, from Lalu Yadav and Mamata to M K Stalin, respect and trust Sonia. She should continue unless she expressly declines.'
NCP leader Ajit Pawar on Saturday received a grand welcome in Baramati, which is his assembly constituency and also the pocket borough of party chief Sharad Pawar, on his first visit after joining the Bharatiya Janata Party-Shiv Sena government in Maharashtra and parting ways with his uncle.
cution' of the Brahmins in the regime of Adityanath, a Rajput, accused of pandering to his caste's interests. Radhika Ramaseshan reports.
'We see that a BJP MP abuses a Muslim MP in the Parliament. People are saying that he should not have said all this in the Parliament, they are saying that his tongue was bad. This is the representative of the people for whom you voted'
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