New Income Tax Slab and Tax Rebate/Credit under section 87A
by Interim Budget 2019 which came in February 2019 had given lots of tax sops thus there was no such expectation related to relaxation of income …
Category: Taxation
Tax Exemption on Life Insurance Policy under Section 10(10D)
Section 10(10D): Tax Exemption on Maturity Amount of Life Insurance Policy As per Section 10(10D) of the Income Tax Act, 1961, any sum received under a Life …
Download and Fill Form 15G and Form 15H to Avoid TDS on Interest Income
What are Form 15G and Form 15H? Form 15G and Form 15H are the forms prescribed under section 197A of the Income Tax Act 1961 …
Difference Between Income Tax Deductions, Exemptions and Rebate
Income Tax Deductions vs Exemptions vs Rebate Income tax of India requires income to be classified into five different heads viz: Income from Salary, Income …
Residential Status and Incidence of Tax on Income under Income Tax Act, 1961
The residential status of a person is required to be determined for each assessment year in order to determine the scope of total income. The …
7.75% RBI Bonds (GOI Bonds) Features and Taxability
For the Quarter April to June 2020, the Government has reduced interest rates of almost all of its small savings schemes. PPF (Public Provident Fund) …
Hindu Undivided Family (HUF) Rules and Tax Rebate
What is HUF (Hindu Undivided Family)? A “Hindu Undivided Family” is a separate legal entity as per the Income Tax Act. HUF can be formed …
Best Credit Card for Online Shopping in India
With the increasing penetration of the internet facility across the country, daily routine items such as grocery, bakery, cosmetics, etc. to the luxury items such …
What is Standard Deduction in India?
Standard Deduction means a fixed deduction from the Income of the taxpayer without having the requirement of any bill, proof or supporting documents. Every Individual …
Is Stock Dividend Taxable Income in India
Taxability of Share Dividend Income in India What is a Dividend? A Dividend means any sum received by a shareholder in proportion to this shareholding …