8 Facts about Cash Deposits of Rs 2.5 Lakhs – Tax and Penalty

Facts about Cash Deposits of Rs 2.5 Lakhs - Tax and Penalty

8 Facts about Cash Deposits of Rs 2.5 Lakhs – Tax and Penalty With Modi’s surgical strike on Black money, black money holders are finding various ways on how to convert such black money to white. Many are depositing cash in the bank on their family member and relatives' names. However, IT authorities have issued some guidelines that Cash Deposits above Rs 2.5 Lakhs may attract tax and penalty if the accounts are not proper. What are some of the […]

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How Black Money is being converted to White Money now?

converting black money to white money

How Black Money is being converted to White Money now? After demonitisation initiative and abolition of Rs 500 and Rs 1,000 notes by Central Government in India, there is a huge increase in search on google about how to convert black money to white money. Several experts are analyzing various ways on how black money can be converted to White Money so that they can help Big black money holders. In this article, I am providing some of the ways […]

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How to file income tax returns online in 15 minutes?

How to file income tax returns online in just 15 minutes

How to file income tax returns online in 15 minutes? As the month of July approaches, the lines of tension start appearing on the heads of many individuals as the last date of filing of income tax returns is coming closer. The last date of filing income tax returns for individuals is 31st July and for the firms whose accounts are not auditable. With the advancement of technology, the Central Board of Direct Taxes (CBDT) has made the facility to […]

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Top Free Websites for Income Tax Return (ITR) filing online

Top Free Websites for Income Tax Return ITR filing online

Top Free Websites for Income Tax Return (ITR) filing online Its tax season now. One has to file income tax returns (ITR) before 31st July, 2016. If you can spend some few minutes, you can do it online through various free websites available for income tax returns filing. What are the documents required for you to do income tax return filing online? Which are the top free websites available for income tax return filing online in India? Income Tax Returns […]

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How to claim Tax Relief on Arrears while filing income Tax Returns?

How to claim Tax Relief on Arrears while filing income Tax Returns

How to claim Tax Relief on Arrears while filing income Tax Returns? As per the provisions of the Income Tax Act, 1961 the salary earned in a particular financial year is to be taxed as per the tax rates applicable for that financial year. But in many a cases, individuals may receive income in a particular financial year, which may relate to the earlier financial years, i.e. arrears of salary or in advance for future financial years. How to claim […]

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How to claim Income Tax Benefits on Second Home Loan?

How to claim Income Tax Benefits on Second Home Loan

How to claim Income Tax Benefits on Second Home Loan? I always look for various ways to save tax as per the income tax act. My 80C is tax benefits are exhausted, interest on housing loan for self-occupied is claimed, etc., I fall in the 30 % tax bracket. I was looking other avenues to save tax. Another avenue where I am currently looking is to save tax through second housing loan tax benefits. What are the housing loan tax […]

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