A majority of people think that if their income is less than Rs. 2.5 Lakhs, they are not liable t…
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…
Read moreI 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…
Read moreWhat 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…
Read moreI 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…
Read moreWhat all can be claimed under section 80D?
All insurance plans which cover any health issues are covered under section 80D. This will include M…
Read moreSection 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…
Read moreWhat 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…
Read moreWhat 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 …
Read moreWhat 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…
Read moreWhat 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…
Read moreWhat 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 …
Read moreWhat 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…
Read moreWhat 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…
Read moreWhat 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…
Read moreWho 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 …
Read moreShould 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…
Read moreIf 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…
Read moreI 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…
Read moreI 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…
Read moreIf 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…
Read moreI 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 …
Read moreHow 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 …
Read moreDo 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…
Read moreSalary 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 …
Read moreI 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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