Income Tax

It is the last quarter of the current financial year. A time when most of us go back to the drawing board to find out how to reduce taxes. Tax-loss harvesting is one of the several ways through which you can do so.

Come the Union Budget season, Indians will eagerly wait for any news relating to the Income Tax Act. Most people are not very happy about having to pay income tax.

Saving tax is a concern for both salaried and non-salaried taxpayers. To overcome this, nowadays most people take the investment route to save tax. One such popular tax saving investment option is the equity-linked saving scheme (ELSS).

Are you an Indian taxpayer? Find out the most common mistakes that creep in while filing income tax returns. This will help you steer clear of them.

Even a few years back your hotel bill would show a charge under the category of ‘luxury tax’. But you won’t find any such term in such receipts these days.

Are you among the ranks of willing entrepreneurs ready to take up a new challenge? It might just be the best time to ride into the start-up horizon in India.

Is saving on income tax a priority for you? Union Budget 2020 added a new taxation regime to help you save on taxes.

The Income Tax Act, 1961 has separate provisions for taxes on individuals, associations, and companies. One such provision for companies is the Minimum Alternate Tax (MAT).

The CII or the Cost Inflation Indexation is a way to measure the inflation and it is further used for computing long-term capital gains earned by selling the assets. The CII also takes the CPI or the Consumer Price Index into consideration for a specific financial year for the urban employees. Hence, indexing helps in reflecting the asset’s real value in accordance with the existing market prices.