Tax Planning Articles

Income tax e-assessment
September 27, 2019
New income tax e-assessment system to kick off from next month; person with no PAN or e-filing account not eligible

A directive from the Central Board of Direct Taxes (CBDT) lays out the exceptions for the new system

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Money things
September 2, 2019
10 money things changing from September that you can’t ignore

The 10 things include TDS on club membership fee/car parking fee while buying home, 10-times traffic fines, online IRCTC train booking costlier, and TDS on over Rs 1 cr cash withdrawal a year

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Income tax department appeals
August 10, 2019
Monetary limit for appeal by IT dept in income tax litigation hiked in ITAT, high courts and Supreme Court

There has been a substantial increase in limits to trigger appeal by IT dept. It’s Rs 50 lakh at ITAT level, Rs 1 cr at high courts and Rs 2 crore Supreme Court

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Income Tax returns filing date
July 23, 2019
Now, you have time till August 31 to file FY19 income tax returns

Government has extended by 1 month the due date for filing IT returns by individuals and certain non-corporate assessees

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July 5, 2019
Modi 2.0 Budget: Income tax return filing is compulsory if you have done any of these 3 things

Budget has announced several steps to widen the tax net, mainly by tracking expenditure rather than just income declaration

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affordable housing
July 5, 2019
Modi 2.0 Budget: Affordable home owners can avail upto Rs 7 lakh tax benefit over 15 years

Income tax deduction on home loans has been increased by Rs 1.5 lakh to Rs 3.5 lakh per annum for houses valued up to Rs 45 lakh; benefit will be available on loans taken up to March 31, 2020

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Union Budget 2019 Nirmala sitharaman
July 5, 2019
Super-rich gets a jolt as Modi 2.0 Budget proposes a steep surcharge hike, taking peak income tax to 43%

The increase in surcharge on income tax for HNIs would affect ~60,000 assessees and raise additional Rs 15,000 crore to Rs 18,000 crore approximately

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income tax everification
June 24, 2019
6 changes in Income Tax Return forms for AY 2019-20 that you must know

Here we take a look at changes you need to know in the two most popular ITR forms: ITR-1 and ITR-2

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income tax return
April 16, 2019
6 new changes for income tax filers this year

The Income Tax department has notified new IT return forms, which require us to give more information. Here are the key information to be provided in the new forms

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Tax planning
April 12, 2019
Here is how tax planning and financial planning go hand in hand

Here we tell you how to look at life stage based financial planning and how to combine it with tax planning

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