Insurance is the best way to the financial security for your family along with tax saving.Insurance helps in tax saving by way of, Tax-free maturity amount and Tax Deduction on premium paid As we all know insurance, whether Life Insurance or Medical Insurance, is the most widely used instrument of tax saving. Let’s us discuss how… Continue reading How Insurance Can Save Your Taxes in F.Y. 2017-18?
You must have often heard about tax refunds. Don’t you..!! This one word can make you happy during the tax season. Tax refunds are nothing but just the taxes that you have paid to government in excess of what you were required to pay. Refunds are the money that are credited back to the person… Continue reading REFUNDS- YOUR MONEY, BACK INTO YOUR POCKET..!!
The due date for deposit of TDS by buyers of property has been extended from 7 days to 30 days by CBDT. As per section 194IA, buyers of property have to deduct 1% TDS when paying the sale consideration to the seller, if the amount of such consideration exceeds Rs. 50 lacs. Previously, TDS… Continue reading Due Date for TDS Deposit on Sale of Property has been Extended.
For establishing unique identification of every single person, UIDAI (Unique Identification authority of India) on behalf of government of India created a centralised database for collecting the biometric and demographic data of residents, and issued a unique 12- digit number known as AADHAR Number. Aadhar is a proof of identity and address, valid for lifetime.… Continue reading AADHAR (UIDAI)
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