Find answers, ask questions, and connect with our community around the world.
Ask Question
How to Avoid Tax on Sale of Property in India?
In India, you can avoid the tax on the property by reducing the tax scale and by the use of specific exemptions which are provided under sections 54, 54EC, and...
JVLast reply by
Janet Varghese
5Replies
What is the Penalty for Filing Tax Return Late?
If you file your Income tax return late, then under section 234F of the Income Tax Act, you have to pay the maximum penalty of INR 5,000 under section 139(1)....
SPLast reply by
Suresh Pillai
5Replies
What are the Tax Implications for NRI?
An NRI is taxable on the following types of Income given below:
Any income that he or she earns in India through any work or business that is in India,...
0Replies
What are Common Mistakes When Calming 87A?
Given below are some common mistakes made by the applicant when claiming 87A to avoid notices from the Income Tax department:
Not filing the correct information: If the applicant is...
SLast reply by
Savetaxs
3Replies
What are the Disadvantages of HUF?
Here are some of the disadvantages of forming an HUF:
It impacts the partition distribution to the HUFs.
Have complex compliance.
Only a limited number of persons can apply under...
RKLast reply by
Ritesh Kumar
2Replies
What is the Difference Between Section 54 and 54f?
Given below are some of the major differences between sections 54 and 54F:
-Section 54 grants to calim a full exemption on the whole capital gains that have to be...
PBLast reply by
Pranav Bhattacharya
3Replies
What is 87A Rebate?
A rebate is a benefit in taxes which are provided to middle to low-income earners. It is only applicable to resident individuals who are earning income under the 10% slab...
MSLast reply by
Matriyee Saini
3Replies
What are Tax Implications of NRI?
The tax implications of an NRI from the Income from salary are
-If NRI gets any salaries from the services provided in India.
-Any form of salary received by an...
SJLast reply by
Shubham Jain
3Replies
What Documents are Required for ITR?
To fill an income Tax return for the salaried employees, you need to submit the following documents given below:
-You need to submit your valid PAN card
-Provide a...
