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Tax

Gifts received from other than relatives are taxable if the fair market value of such gifts exceeds Rs. 50,000

Before giving Diwali gifts this festive season, know about their tax implications here

Oct 06, 2022

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.

On salary income, advance tax is paid by an employer on behalf of the employee.

Do you need to pay advance tax before September 15? Here's all you need to know

Sep 14, 2022

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.

Income tax refund status: Those who have filed their income tax returns (ITRs) for the last financial year and have paid more than what was required are eligible for a refund.-16:9

Income tax refunds: How to check your refund status if you haven’t received it yet

Sep 07, 2022

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.

Any amounts received by the family of a deceased employee, who passed away because of any illness related to Covid-19, from his employer within 12 months of his passing, will be tax exempt

How the Finance Bill 2022 will impact personal taxation

Feb 02, 2022

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)