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Tax Planning that benefit taxpayers not illegal, rules ITAT

8 October 2021
Tax Planning that benefit taxpayers not illegal, rules ITAT The issue of setting off losses from shares against gains from the sale of property rose to prominence recently.  

Salaried or earning from business and profession? Not everyone can change Income Tax regimes every year

8 October 2021
Salaried or earning from business and profession? Not everyone can change Income Tax regimes every year As per the Tax Regime changed rules, taxpayers, now have the option to choose between the New and Old Tax Regimes for filing ITR.  

Glitches remain on IT portal ahead of finance ministers deadline.

8 October 2021
Glitches remain on IT portal ahead of finance ministers deadline   The Income Tax portal remains a festering worry for taxpayers scrambling to file their returns.   In Nagpur Today, Dr. Suresh Surana, Founder, RSM India, and other tax experts, talk...

What is Income Clubbing under taxation?

8 October 2021
What is Income Clubbing under taxation? Income clubbing refers to earnings on investments made by you on behalf of a family or close relative. These earnings are combined, and you are ultimately taxed on your overall earnings.  

Glitches remain on IT portal ahead of finance ministers deadline.

8 October 2021
Glitches remain on IT portal ahead of finance ministers deadline   The Income Tax portal remains a festering worry for taxpayers scrambling to file their returns.   In The Hindu, Dr. Suresh Surana, Founder, RSM India, and other tax experts, talk...

New vs Old Tax Regime for ITR filing (AY 2021-2022): What should salaried employees choose?

8 October 2021
New vs Old Tax Regime for ITR filing (AY 2021-2022): What should salaried employees choose? The due date of ITR filing has been extended till 31st December 2021. The Income Tax Act provides you with an option to shift from the old tax regime to the...

Senior citizens above 75 years can avoid filing ITR from next year

8 October 2021
Senior citizens above 75 years can avoid filing ITR from next year The Finance Act, 2021, has inserted Section 194P in the Income-Tax Act, 1961, exempting senior citizens of 75 years or above from filing ITR, provided they fulfil certain conditions...

Senior citizens above 75 years can avoid filing ITR from next year

8 October 2021
Senior citizens above 75 years can avoid filing ITR from next year The Finance Act, 2021, has inserted Section 194P in the Income-Tax Act, 1961, exempting senior citizens of 75 years or above from filing ITR, provided they fulfil certain conditions...

Everything you need to know about ITR filing

8 October 2021
Everything you need to know about ITR filing The ITR filing deadline for individual taxpayers is now December 31.   In this episode of Money Money Money, Dr. Suresh Surana, Founder, RSM India, along-with other expert discusses everything you need to...

From this fiscal year, individual need to keep two separate accounts with the EPF

30 September 2021
From this fiscal year, individual need to keep two separate accounts with the EPF   According to a statement from the CBDT, if an individual's contribution to the EPF surpasses Rs 2.5 lakh in a financial year, the individual would be obliged to keep...

ITR filing of deceased person: Documents required, steps to be taken by legal heirs

30 September 2021
ITR filing of deceased person: Documents required, steps to be taken by legal heirs   A person cannot be absolved of his tax liability, even after death. It's important that legal heirs should be aware of their responsibility of filing the income...

Tax on Provident Fund: Know how PF contributions, interest will be taxed

30 September 2021
Tax on Provident Fund: Know how PF contributions, interest will be taxed   CBDT has issued a notification on August 31, 2021, to make PF contributions over certain threshold limits and the interest on such excess contributions taxable from April 1,...

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