How to show interest on NSC in Income Tax Return?

showing interest on NSC in Income Tax Return

How to show interest on NSC in Income Tax Return? One of the best ways to save income tax u/s 80C is investing in National Saving Certificates. NSC can be purchased from the post office, which has 5 years tenure. While you can claim this amount from 80C exemption, interest from NSC is taxable. It needs to be shown as taxable income while filing income tax return. However, there is a lot of confusion about how to show NSC interest […]

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What are the tax liabilities on selling commercial or residential properties?

tax liabilities on selling commercial or residential properties

What are the tax liabilities on selling commercial or residential properties? Many investors invest in real estate properties like commercial properties, residential houses or plots for 10 to 20 years and sell them to either to create retirement wealth or for child education or daughter marriage. However, there could be tax liabilities arising from buying and selling these commercial or residential properties. If you are not aware of them, you may be caught by the Tax Ombudsman and you may […]

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How to efile Income Tax Return without Form 16?

efile Income Tax Return without Form 16

How to efile Income Tax Return without Form 16? Almost, all of us would agree to the fact that we have to know the basics about how to do filing of income tax returns. If you are employee, to file tax returns, you need form-16. However, there are several cases where Form-16 would not be available. In such case, one would face a big challenge in doing efiling of income tax returns. How to efile Income Tax Return without Form […]

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How to save income tax on long term capital gains?

How to save income tax on long term capital gains in India

How to save income tax on long term capital gains in India? During one’s lifetime, every individual sell and purchase many assets. However, when the assets change the ownership, it is obvious that some profit or loss would arise. At the time of sale of any asset, the gain that arises is a liable to be considered as a taxable income. It can be categorized either as a short-term capital gain or long-term capital gain depending on the duration the […]

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How to file Income Tax Returns (ITR) for previous years?

How to file ITR for previous years after due date

How to file Income Tax Returns (ITR) for previous years? Every individual is responsible enough to file his or her income tax return on time. But for some reasons, if they fail to do so, this article provides the alternatives and consequences of the same.  Amongst the list of reasons, lack of information, natural calamities, ignorance, not present in India may be some to say. But don’t worry, there are still certain ways. How to file income tax returns (ITR) […]

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Complete guide on PAN Card – How to apply or make changes?

Complete guide on PAN Card in India

Complete guide on PAN Card in India Permanent Account Number (PAN) is mandatory for income tax purpose and TDS. There are several benefits available with PAN number. Recently Govt of India has mandated several transactions where PAN number needs to be quoted. What is PAN Card? How to apply for PAN Card in India? What are the transactions where PAN Number should be quoted? Can Minors apply for the PAN Card? In this article, we would provide complete guide on […]

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