Recently the income tax department announced a new specified financial transaction (SFTs) that will be reported under form 26 AS. These include life insurance premium, health insurance premium, share transactions among others. Here is a full list of such STFs.

Recently, the Income Tax Department introduced some key changes in Form 26AS. What used to be a simple tax credit statement available to every taxpayer is now a complete blueprint of your high-value financial transactions. What are the new changes in form 26AS? Will they help the taxpayer?

The Government recently announced the Direct Tax Vivad se Vishwas Scheme (DTVSV) 2020 to reduce litigation related to direct tax matters and provide an opportunity to willing taxpayers to settle their outstanding tax disputes under very favourable terms without payment of any interest or penalty (in cases of disputed tax demand). Let’s have a closer…

Hindu Undivided Family (HUF) is a distinct legal entity and consists of individuals who have lineally descended from a common ancestor, including their wives and children. Let us see how a HUF is formed and what are its various tax benefits.

House rent allowance (HRA) is an allowance that many employees in India receive, both in the public and private sectors. Many employees also have a home loan in their names. Tax benefits are available on both HRA and home loan. Let’s see how HRA and home loans can be used to reduce your tax outgo.

“No Extension of the Financial Year 2019-2020” clarifies Finance Ministry

Here is a list of income tax relief measured announced by the finance ministry

A taxpayer can opt for the new tax regime from April 2020. Can such a tax-payer switch back to the old regime? What are the conditions for switching back?

Did the finance minister announce in budget 2020 that middle-east NRIs should pay tax in India from April 2020?

Use this comparison table to enter your salary details and find out if the new or old tax regime announced in budget 2020 will be beneficial for you?

This is a list of important changes in ITR forms for Assessment Year 2020-21(Financial Year 2019-20) and how they are a further step in getting more information from the taxpayers to curb tax evasion and make life easy for compliant taxpayers.

A guide to linking Pan number with Aadhaar number. If not done by Dec 31st 2019, Pan will become invalid!