I had availed exemption under sections 54 and 54EC for long term capital gains on sale…
Tag: income tax law
Do I have to pay income tax on sale of ancestral house?
We built a house in 1995 by demolishing our grandfather’s ancestral house. All of us five…
ITR Filing: This Violation of Income Tax Return can land you in jail. details here
ITR Filing: The last date for filing Income Tax Return or ITR for AY 2021-22 is…
In the form of cash allowance in lieu of voucher: How it is treated under Income Tax Laws
I am an employee in a private hospital. My salary is deposited directly into the bank…
NRE Account Vs NRO Account: How Interest Income Is Treated Under Income Tax Laws
My son went to the US last month for a job and has thus become a…
Does a merchant enjoy a separate income tax exemption limit?
I am a trader, what is the income tax limit for traders? Do I have to…
I have sold a plot. Can I file income tax return under ITR 1?
I am a pensioner and am filing ITR 1 regularly. In the financial year 2020-21, I…
To what extent can a father give gifts to his son under the Income Tax laws?
Please state whether one can gift his son to buy a flat and if so, is…
Gains in Mutual Funds from Gains in Shares – 4 Fine Points of Income Tax Laws
There are some provisions under income tax law Which usually goes unnoticed and has huge tax…
Three types of income tax benefits available for education
The geometric progression velocity in education has the potential to improve the quality of life of…