Browsing: income tax savings

A sample Form 12BB may be downloaded from the online portal of the income tax department. Investment declaration guide: With…

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Under the Income Tax Act, gifts received from specific “relatives” are not subject to taxation. Grandparents are also covered within…

You may discharge tax liability annually on accrued interest.By Chirag NangiaI am a B.Tech student and earn up to Rs…

Consequently, if you acquire gratuity, 1/3rd of the corpus shall be tax exempt.By Chirag NangiaDo we want to declare interest…

You need to report interest revenue from tax absolutely free bonds and PPF in your ITR as exempt revenue in…

Since shares are viewed as “movable property”, it is not mandatory to execute a present deed.By Chirag NangiaI retired in…

Further, there is no prescribed formal procedure for appointment of the karta in an HUF.By Chirag NangiaIt is not clear…

While quick term capital gains from debt funds shall be taxable at applicable slabs, lengthy-term gains shall be taxable at…

Therefore, in your case, assuming that mutual funds are equity-oriented, LTCG more than and above Rs 1 lakh shall be…