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Income Tax|Legal Suvidha

Income Tax

Agricultural Income & investment in Unlisted companies through new ITR forms

By MayankWadhera

Income Tax Return (ITR) forms not only seeks information of the taxpayers as to income and tax but also seeks various other information a . . . . . . . .

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Income Tax Return Filing in 17-18 increased by 64.09% as compared to 13-14

By MayankWadhera

  • The provisional figures of Direct Tax collections for FY 2017-18 show that net collections are at Rs.9.95 lakh crore which is 17. . . . . . . . .
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Controversial issue: Income of minor to be taxed in hands of grandfather who is maintaining him

By MayankWadhera

Income of minor to be taxed in hands of gran . . . . . . . .

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Tax benefits for senior citizens under Income Tax Act

By MayankWadhera

There are a plethora of benefits that the government has made available for senior citizens so that they can . . . . . . . .

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Income-tax Act prevails over Canon Law; Salary received by Nuns/Missionaries is taxable

By MayankWadhera

Union of India v. Society of Mary Immaculate (Tamil Nadu) – [2019] (Madras)

The Nuns, Sister . . . . . . . .

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Advance Tax

By MayankWadhera

Now-a-days all assessees must be receiving a reminder message for paying advance tax by 15.03.2019. But why advance tax? The answer to th . . . . . . . .

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Let out terrace – Rent taxable under head house property

By MayankWadhera

In a recent ruling, ITAT Mumbai bench held that the rent earned from the letting out of the terrace is taxable under the head “Inco . . . . . . . .

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Non-Residents: No need to furnish PAN for Transfer of equity shares

By MayankWadhera

On 11.02.2019 SEBI issued a circular giving relaxation to the non-residents from the requirement of furnishing a copy of PAN for transfer . . . . . . . .

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Link Aadhar-PAN by 31.03.2019

By MayankWadhera

On 14.02.2019, CBDT released a press release which reiterates the mandatory linking of Aadhaar-PAN which has to be completed till 31.3.20 . . . . . . . .

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LTCG tax benefit: Can sell multiple flat for buying a new one

By MayankWadhera

Recently, ITAT Mumbai bench giving a big relief to the taxpayers held that for the purposes of Section 54 of Income Tax Act, 1961 (A . . . . . . . .

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S. 2(15): Creating awareness about HIV/AIDS falls under medical relief category

By MayankWadhera

On 23.01.2019, ITAT Delhi bench gave a significant pronouncement that activities of giving medical relief to patients & Creating awar . . . . . . . .

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BUDGET 2019 HIGHLIGHTS

By MayankWadhera

On 01.02.2019, the leaving NDA government presented its last budget i.e. interim budget for the financial year 2019-2020 containing vario . . . . . . . .

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Common Tax Saving Approach under Income Tax

By MayankWadhera

Every person who is earning any kind of income is liable to pay income tax. However, the taxpayer tries every possible way to pay less ta . . . . . . . .

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Can a Taxpayer claim HRA Deduction on the rent paid to spouse?

By MayankWadhera

Circulars issued by the Income tax department (ITD) just propose investigating HRA game plan to learn that they are not a hoax. House ren . . . . . . . .

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Things a professional considers while doing your Income Tax return filing

By MayankWadhera

Soon, it will be time for file your tax returns for the past financial year. If you have paid excess tax during the year through tax dedu . . . . . . . .

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7 must read pointers before 31st March,2018 : A Quick Checklist

By MayankWadhera

We all are aware that end of the financial year 17-18 is approaching. 31st March, 2018 is an important date to remember for individuals a . . . . . . . .

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Income Tax Changes from April 2018 onwards

By MayankWadhera

Ten Income Tax Rules That Will Change From April 2018

 

In Budget 2018, Our Finance Minister ha . . . . . . . .

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