All posts tagged "Income Tax Act"
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27FINANCEWill my parents be taxed on the interest charged if they lend me money for a home loan?
Note that if this interest income pushes their total income into a higher tax bracket, the higher rate would apply to the...
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60NEWSRBI’s new domestic money transfer rules for stronger KYC are applicable from November 1, 2024; check details
The Reserve Bank of India (RBI) had issued a new framework on Domestic Money Transfer (DMT) in July 2024 for regulated enterprises,...
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45ITRDo You Want To Give Inputs On Income Tax Act? Govt Invites Suggestions On e-Filing Portal
Check out the direct link which is accessible to the stakeholders/experts/public in the E-filing portal. New Delhi: The Central Board of Direct Taxes...
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58ITRAre all gifts taxable in India? Discover the rules that apply
In India, gifts above ₹50,000 from non-relatives incur tax, while those from close relatives remain exempt. Understanding these tax rules and the importance...
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215ITRReceived Income Tax Intimation Under Section 143(1)? Here’s What You Need To Know
When you file your income tax return, it undergoes a computer-based scrutiny under Section 143(1). Section 143(1) of the Income Tax Act...
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45ITR
India’s Tax Regime Set For A Major Upgrade, Govt Puts Income Tax Act 1961 Under Review; Check Key Reasons
The Act is divided into various chapters, each dealing with different aspects of income tax. It contains several sections, each addressing specific...
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112ITRBudget 2024: Will Govt Hike Rs 1.5 Lakh Limit Under Section 80C Of Income Tax Act?
Union Budget 2024: The government reportedly plans to raise the income threshold for tax liability from the current Rs 3 lakh to...
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93ITRWhat is Section 80DDB? Know tax benefits for specific medical expenses: 5 top points
Section 80DDB of the Income Tax Act provides individuals with a valuable tax deduction for expenses incurred in treating certain specified illnesses....
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207ITRIncome Tax Act Amendments: Guidelines For Rental Income Deductions – Details
In accordance with Section 194-I of the Income Tax Act, individuals and Hindu Undivided Families (HUFs) responsible for paying rent to a...
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276ITR
Income Tax Act Amendments: Guidelines For Rental Income Deductions – Details
In accordance with Section 194-I of the Income Tax Act, individuals and Hindu Undivided Families (HUFs) responsible for paying rent to a...
