Income Tax : The case highlights how expanded benami provisions expose informal family arrangements to confiscation and penalties. Courts stres...
Income Tax : Tax-loss harvesting helps investors offset losses against gains to reduce tax liability. The key takeaway is that strategic timing...
Income Tax : Many tax-saving investments carry hidden costs like STT, expense ratios, and exit loads. The analysis highlights that these charge...
Income Tax : The Supreme Court clarified that tax planning is valid only when backed by real commercial substance. It held that artificial stru...
Income Tax : Tax loss harvesting allows investors to sell loss-making shares to offset capital gains and reduce tax liability. This strategy he...
Income Tax : Trusts and institutions carrying out charitable activities will face more stringent taxation regime when the new direct taxes code...
Finance : Money managers, who have historically used dividends as a ploy to lure investors to tax-saving stock funds, are shying away from p...
Income Tax : Bhoruka Steel Limited (BSL) was incorporated in the year 1969. The company became a sick industrial company within the meaning of...
Income Tax : Wallfort Shares & Stock Brokers, a Five Member Special Bench of the Tribunal (96 ITD 1 (Mum) (SB)) and the Bombay High Court (310 ...
Krishna, as it is the time of schools and colleges reopening, admission of students are going on everywhere. All parents want that their children should be educated from the best school/college. But for the sake of good education, a lot of money is required. So is there any benefit available to the taxpayers in Income Tax Act for such expenses incurred?
The investment options available in the market help you set aside a huge portion during your working years for your long-term needs. Further, these plans also offer tax benefits which make them an apt choice to invest in the present scenario when you are already looking for investment options to save tax. Here are some investment options that not only reap good returns in the long run but also save tax under Section 80C of the Income Tax Act.
As we progress in life, our goals and milestones are modified. Not only have we changed the way we live but we also change our perception of the future. Our life’s goals include factors such as travelling, medical benefits, financial independence and zero liabilities.
Article deals with Tax Benefit on Home loan under section 80C for Loan Principal Payment, Section 24 for Interest Payment, Tax planning of Home Loan & HRA.
Once again, most of you all might have filed in the Income Tax returns but still at the back of the mind wished that you could have paid less taxes or to save more for the upcoming year. People falling in the high income group often miss out on some of the lesser known tax planning strategies which could substantially reduce their tax liability.
Life insurance policies can be used as tax planning tool as premium paid on Insurance Policies is eligible for tax benefits under Section 80C of the Income Tax Act 1961 (Act) and Maturity Proceeds are also eligible for exemption under section Section 10(10D) and Section 10(10A)(iii).
As the end of financial year draws near, many of my friends who were least bothered about tax saving investments throughout the year, have started hunting down options to park their surplus funds and consequently save up on taxes.
Income tax laws allow you various benefits in respect of amounts spent or invested. Primarily these tax benefits are available for amounts spent or invested on yourself but for certain items, the benefits are available for amounts invested or spent on family members.
The increased incidence of lifestyle-related diseases and the spiraling costs of health care has made it necessary for people to get health insurance coverage. You can get yourself and your family, which includes your spouse, children, parents, and other dependents, covered under health insurance. If you or members of your family are affected by a […]
In this article we have listed four tips to save Tax Through Your Parents which includes 1. By Investment & Share Trading in your parents name 2. By Paying Rent to Parents to claim HRA or Section 80GG deduction 3. By shifting losses on Shares by off market Transactions 4. By doing share trade in Parents Name.
