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Income tax on gifts: Know when your gift is tax-free

If the gift amount is significant, chances are you will end up paying the highest tax rate of 30 per cent on your gift

 
 
Digitisation has made claiming tax benefits as simple as the swipe of a card or the click of a button - you choose - it's the age of convenience after all.
The I-T Department to issue notices to over one lakh entities and individuals, who deposited huge cash in banks post demonetisation
July 31 is usually the last date for filing income tax returns (ITR), but this year, it was extended to August 5 to give more time to tax filers.
Investing in ELSS not only reduces your tax liability but gives greater liquidity, lesser lock-in period, the option of investing using SIPs or in lumpsun and more.
The number of applications submitted for correction of names in Permanent Account Number (PAN) cards have seen a significant jump in recent weeks.
 
 
An ITR return needs to be verified within 120 days of filing of tax return.
The currency is not recognised by the government and come under the purview of no authority.
The tax filing season is about to start. For salaried class, tax is deducted at source (TDS) by the employer and is deposited to the tax department.
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