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Tax Hacks-Video

Is leave encashment taxable as salary?

Every salaried employee is entitled to leaves like casual, sick, earned or annual. Most of these lea…

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I have a sibling who is mentally challenged and totally dependent on me. Is there a provision to claim the expenses to reduce my tax liability?

If you have a dependent with a disability or even severe disability, then you can claim tax deductio…

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What is a gift tax? Everything you need to know

Let us take you through some of the rules and key points to remember about taxes on gifts this seaso…

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I am unable to save a lot due to the school fee payments? How do I maximise my tax deduction this year?

If you are a parent and your kids are attending school, you can claim the fee paid towards their tui…

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What all can be claimed under section 80D? 

All insurance plans which cover any health issues are covered under section 80D. This will include M…

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Section 80C Deduction: How much can you save under section 80C?

Several investments options and expenses are eligible for tax deductions under Section 80C. In total…

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What are the deduction limits under section 80D for health insurance?

You are eligible to avail a tax deduction up to Rs. 25,000 in a financial year, under Section 80D fo…

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What are the deductions available for home loan repayments?

If you have taken a home loan, you may be eligible for deduction under section 80C and 24(b). While …

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What are the tax benefits of investing in Sukanya Samriddhi Yojana?

Investments into Sukanya Samriddhi Scheme are eligible for tax deductions under section 80C. Under t…

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What can be claimed as expenses for leave travel allowance? 

Salaried Employees who get leave and travel allowance as a part of their CTC, can claim a tax deduct…

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What if I cannot file the Income Tax Return on Time?

If you fall under the taxable bracket, then filing Income Tax Returns is necessary. Delay in filing …

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What is covered under 'Income from other Sources'?

Income from other sources, which is the last among the five heads of income sketched out in the Inco…

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What is the maximum amount that can be claimed as a deduction for education loan?

The Section 80E of Income Tax Act 1961, allows tax rebate on payments of educational loans taken for…

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What tax benefits are there on saving for retirement?

By starting early on your retirement savings, you can easily ensure that you have enough finances to…

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Who can claim deduction under section 80U and how much?

Any resident individual who has been certified by a medical authority as a person with a disability …

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Should I File Return for Loss (Negative Income) As Well? Will I Have to Still Pay Tax?

Yes, you must file ITR (Income Tax Returns) for negative income or losses. While filing ITR, you hav…

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If my income is taxed abroad as well as in India can I claim any relief on account of double taxation?

In many cases, if you are living abroad and have an income source in India, the income attracts taxe…

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I donated money to Kerala Flood relief fund last year. Am I eligible for any tax deductions?

Donations that were made to specific relief funds and registered charitable institutions are eligibl…

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I don’t receive HRA, how can I claim a deduction for the house rent?

If you are self-employed and are making payments towards rent for an unfurnished or furnished reside…

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If I forget to submit any documents to HR, how can I claim tax benefit?

For the majority of the companies, the last date for the employees to submit their investment proofs…

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I Just Got My First Job. How Can I Start Investing to Save Tax?

Investment habits when inculcated early in your life can lead to a stress-free financial future. If …

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How can I save tax on the capital gain from the sale of house property?

When you make a gain on sale of house property, you are liable to pay taxes on your gains. If three …

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If my income is less than 2.5 lakhs, do I still need to file my tax returns?

A majority of people think that if their income is less than Rs. 2.5 Lakhs, they are not liable t…

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Do I Need to Pay Advance Tax? What if I Cannot?

If your net tax liability after the adjustment of TDS is more than Rs. 10,000 per year, then you are…

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Salary Allowances in India: Are All Allowances Taxable?

Taxpayers are usually aware of deductions under Section 80C of the Income Tax Act or which they are …

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I received gifts during my wedding. are they taxable?

Gifts received during a wedding by a newly-wed couple are tax exempt if the immediate family of the …

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