Gifts of any kind received from relatives, gifts received under will or inheritance, gifts received on marriage and gifts received in contemplation of death are not taxable.
Advance tax is a mandatory requirement that enables the government to receive tax revenue on a quarterly basis. But who needs to pay it? And why? Read more here.
ITR refund status: Last week, the Central Board of Direct Taxes (CBDT) declared that the department had issued refunds of over Rs 1.14 lakh crore to more than 19.7 million taxpayers between April 1 and August 31.
Finance Bill 2022 (the “Bill”) proposes to provide income-tax relief for Covid-19 related medical treatment (subject to such other conditions as may be prescribed by the Central Government)
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