Due Date For Filing Income Tax Return – 31st Augest 2019
It is mandatory for all individuals to file Income Tax Return (ITR) where his total income exceeds the maximum amount that is not chargeable to Tax ie, if it exceeds Rs.2,50,000 in the FY 2018-19. This limit is Rs 3,00,000 for senior citizens ( who are more than 60 years old but less than 80 […]
Your last chance to file the Income Tax Return for FY 2017-18
The last chance to file the Income Tax Return for the financial year 2017 – 2018.
Top best tax saving investments 2019
With FY 2018-19 soon coming to a close, taxpayers will be busy looking at best tax saving investment options to save income tax in FY 2018-2019. All tax planning investments for FY 2018-19 should be made before 31st March 2019. Through such investments, smart investors can both reduce their tax liability as well as ensure high returns on their investments
TDS on sale of Property by NRI
Problem Non-residents who are selling immovable property which is situated in India have to pay tax on the Capital Gains. The tax that is payable on the gains depends on whether it is a short term or a long term capital gains. When a property is sold, after two years from the date it was […]
Capital Gain Tax on Compulsory Acquisition
Problem Our client had a plot of land (non-agricultural) situated near a busy junction (Sreekaryam) in Thiruvananthapuram. Kerala State Government decided to construct an overbridge at the junction mentioned above to reduce traffic congestion. The government was compulsorily acquired the abovementioned plot of land for this purpose, and our client was awarded a package sum […]