Tag Archives: tax

EVERYTHING ABOUT “I HAVE OUTSTANDING TAX DEMAND”

Very occasionally, one may face a situation wherein there would be a demand notice issued to an income taxpayer by the Income Tax Department. Although this is not something that needs to be acted upon immediately, people take such actions personally. Feelings of anger towards the Government are common because people religiously pay their taxes… Read More »

What can you do before year end? – Check list for the year end.

It’s a time to gear up and get ready for the year end necessities with respect to finalization of accounts and income tax related requirements. As we all know March ending is approaching very fast and this is the best time to get your accounts in order and plan for processing of year end. This… Read More »

Clubbing of Income Section 60 to 64 – Some Facts & FAQ’s

‘Diversified Income’ the word itself defines what it means. Its normal human tendency to diversified its income sources to manage the income as well as saves some taxes on it. Generally the individual does this by investing his savings in the name of his spouse or children’s. It may seem ordinary to invest money for… Read More »

Few Minor Deductions

Few deductions related to specified illnesses to certain donations, that taxpayers unknowingly miss while filing the income tax return. Most taxpayers are familiar with the tax deductions under Section 80C and 80D. But there are several other deductions that a taxpayer can avail. Home loan processing fee and other charges, Home loan customers are aware… Read More »