Income Tax Articles

Tax Benefits of 3 Common Loans in India

Posted by Guest 25 November 2020 18562 Views

Loans not only serve as an ideal option to arrange for funds in times of financial need, but may also have some tax benefits associated with them. In the following sections we will discuss how you can save tax when repaying 3 most common loans availed in India - home loan, personal loan taken for the purpose home renovation and education loan.

Amendments made by Finance Act 2020 relating to Trusts

Posted by CA Santhosh Gupta Kethepalli 24 November 2020 8435 Views

Finance Act, 2020 has made changes with respect to the provisions related to Trusts and NGOs claiming exemption u/s 11 or u/s 12 of the Income Tax Act, 1961. Let us understand those changes.

Form 16 Vs. Form 16A Vs. Form 16B

Posted by Shweta 24 November 2020 14316 Views

Under the Income Tax Act, Form 16, 16A, and 16B refer to TDS certificates issued by the deductor to the deductee, which certify that tax has been deducted.

Form 15CA and Form 15CB: Forms to be filed for Payments made to Non Residents

Posted by Ajay Kumar Maggidi 23 November 2020 9752 Views

When taxpayers are involved in making payments to Non-Residents, they shall comply with the provisions of income tax which requires the taxpayers to file Form 15CA and 15CB as applicable.

Purchasing property- Nightmare in India

Posted by Galactic Advisors 21 November 2020 5544 Views

Purchasing property- Nightmare in India

Basics of Income tax: A Beginners Guide

Posted by shahyar husain 17 November 2020 8120 Views

In the following article, we explain all the steps required to calculate tax returns and the basics of income tax, from a beginner's perspective.

Buying your dream home becomes cheaper this Diwali!

Posted by CA Umesh Sharma 16 November 2020 4218 Views

One can now buy a house at a rate of 20% lower than the circle rate. This new norm is for residential units up to Rs. 2 Cr. and will be effective till 30th June 2021.