(As Published in Times of India and Economic Times on December 27, 2010) Financial planners contend that couples should ideally combine their finances. The meshing together of the investments of the husband and wife not only strengthens the household's financial fibre but gives them a comprehensive view of the real situation. However, the taxman has set limits to this joining … [Read more...] about How To Cut Tax By Investing In Spouse’S Name
Tax Refunds
Missed August 5 Tax Returns Filing Deadline? Here are Implications and What You Should Do Now
(As Published in Financial Express on August 8, 2016) So what happens if you have missed the deadline? Well, to start with the passing of the deadline does not mean much for your actual tax return filing exercise. You cannot carry forward losses (except loss from house property). You can carry forward losses from equity to set off from capital gains only if you file within the … [Read more...] about Missed August 5 Tax Returns Filing Deadline? Here are Implications and What You Should Do Now
Reasons to e-File your Return Now
Most of you who have already missed this year’s return filing deadline, assume that you can postpone this activity indefinitely. However, this is not true. Here is a list of reasons to file your return now without any further delay: Notice And Penalty For Mismatch With Cash Deposits: With the sudden demonetization of Rs. 500 and Rs. 1000 currency notes, all cash deposits in … [Read more...] about Reasons to e-File your Return Now
Missed Return Filing Deadline? You Can Still File Return Till 31st March, 2018
The last date of filing income tax return for individuals was 31st July, 2016 which was extended to 5th August, 2016 later on, for income earned in the financial year 2015-16. If a taxpayer has not filed a return by this date then he can still do it under the “belated return” category. Income tax rules provide that a return can be filed anytime within two years from the end of … [Read more...] about Missed Return Filing Deadline? You Can Still File Return Till 31st March, 2018
7 Tax Mistakes to Avoid if You Have Switched Jobs Last Year
Have you switched your job in FY 2015-16? If yes, don’t forget about the tax implications that can arise due to more than one employer/Form 16. In case you fail to disclose your income from all the employers while filing returns, you may get a notice from the Income Tax Department. This will not only result in paying the tax shortfalls, but also interest at the rate of 1% or 2% … [Read more...] about 7 Tax Mistakes to Avoid if You Have Switched Jobs Last Year
