Has the idea of the income tax department always scared you a little? All of us have heard at least one story about someone getting into trouble for not paying their taxes. And what about filing your Income Tax Return? Are you wondering what the repercussions would be if you didn’t file your return? Just read on and everything will start to look a little clearer.
When it comes to losing weight, baby steps towards your goal are what finally amount to a big change for you. The banking, taxation and in the financial segment of India has seen a lot of baby steps implemented in the past couple of years and these indicate a path towards big change. A few… Read More »
A Princess in the middle east was gifted a completely gold toilet on her wedding. The wealthy love spending and we love to hear about the diamond studded BMWs and private jets that they gift each other. So many of us wistfully wish we could visit their sprawling mansions with indoor pools in exotic locations.… Read More »
Supandi, from Tinkle, was a dear but very confused character that many of us still enjoy. He was most likely to go to a Dentist for an ache in his eye (probably caused by the spoon in his cup). This tax filing season, you might be feeling just as confused as Supandi and don’t know… Read More »
Chocolates, ice-creams and pies; everyone loves to indulge once in a while. Those of us with a sweet-tooth can never say no. Wouldn’t it be awesome if you could indulge just as much in your tax returns? Home loans, health insurance and other investments, done right, can get you great returns on your taxes. Here… Read More »
We are all usually surrounded by lot of questions related to investments, taxation, finance etc. In this article, we have handpicked 6 questions which are important and applicable to most of us. 1. How are tax rebates calculated for early payment of a home loan? Those who have availed a home loan usually have this… Read More »
There was a time when IRIs (India-Residing Indians) looked at their NRI cousins with quiet jealousy. Going overseas for work is still considered to be a barometer of success. But NRIs are not descendants of Uncle Scrooge. They too work hard and pay taxes. If you are one of those travelling overseas for work and subscribe… Read More »
If you had a dime for every time the world changed, you’d soon be belching dollars. And the world changes like nobody’s business. Earthquakes happen. Continents shift. And tax rules change. Specifically, the rules for filing the Income Tax Returns (ITR) have changed. So what’s changed? Here’s a lowdown. Broadcast your foreign jaunts: This time… Read More »
Do you ever get that nagging feeling that something is just not right with that tax return you filed? Does it eat you inside out that you may have entered your spouse’s bank account number instead of your own? You’re not alone. Here are 10 of the most common errors people commit while filing tax… Read More »
Individuals have the freedom to self assess income and pay taxes. That doesn’t mean that if you do not declare a particular stream of income to evade taxes, you will go scot free! Tax evasion is an illegal activity which entails not filing income tax returns altogether or misrepresenting the tax payable amount. It is… Read More »