Personal Finance »Taxation
Taxation
  • 26 May 16
    02:05 PM
    Owing to improvements in healthcare, the number of senior citizens in India is growing. Today we have around 10.5 crore senior citizens (those above the age of 60) and more than 1 crore very senior citizens (those above 80).
  • 18 May 16
    10:43 PM
    The finance ministry will launch an ‘income declaration scheme’ from June 1. Those who have not declared their income correctly in earlier years will have an opportunity to do so during the four months the scheme remains open.
  • 16 May 16
    06:29 AM
    Software developer Mandar Gokhle went to the US in October last year for a project. His company transferred him to its subsidiary there and he was therefore paid a salary there.
  • 15 May 16
    10:24 PM
    Section 10(5) of the Income Tax Act, 1961 read with Rule 2B of the Income Tax Rules, 1962 provides an exemption in respect of an allowance or assistance received by an individual from his current employer or former employer for himself and family in
  • 09 May 16
    12:22 AM
    In 2013, then finance minister P Chidambaram had said, "It is shocking only 42,800 people and firms admit to earning over Rs 1 crore. Many more earn but only so many admit," the finance minister said.
  • 02 May 16
    04:08 AM
    Professionals, unlike the salaried, have it a little tougher when it comes to filing income tax returns. This is because of the intricate documentation one has to maintain. One look at the information sought in the lengthy ITR-4 can be daunting.
  • 10 Apr 16
    10:08 PM
    Filing income-tax returns is not a pleasant job for most, even for those who have no income to show other than salaries. And, the continuous changes in the income-tax returns form, often, makes the filing process more complicated.
  • 09 Apr 16
    11:03 PM
    The taxation of severance pay has many a times been a point of dispute between the recipients and the Income Tax authorities.
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