Where is my Refund?

Are you unable to understand why you have still not received your Income Tax Refund?? Even after filing your Income Tax Return on time!! Don’t worry… There are some common mistakes that you might have been doing till now…but no more!! As per the Income Tax Department, mistake that majority of the taxpayers do is… Continue reading Where is my Refund?

TAX SAVING, TAX AVOIDANCE, AND TAX EVASION: ARE THEY THE SAME?

In common parlance the terms saving, evasion and avoidance may be used interchangeably but for the Income Tax Department each of these terms has a different meaning associated with it and some are taken more seriously than others! Let’s end this confusion of words once and for all by breaking them down one by one… Continue reading TAX SAVING, TAX AVOIDANCE, AND TAX EVASION: ARE THEY THE SAME?

CBDT Gives a Direction on Taxability of Unlisted Shares

Income arising from the transfer of unlisted shares will now only be taxable under the head “Capital Gain” in order to maintain consistency and uniformity across all such transactions.   Earlier, it used to be a matter of confusion for both the taxpayers and the Income Tax Department so as to whether to treat it… Continue reading CBDT Gives a Direction on Taxability of Unlisted Shares