Tax Refunds

Income Tax on Gift Received

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View quick summary While you can receive gifts of any amount from your relatives without paying income tax on it, gift(s) valued above Rs. 50,000 received from a non relative is taxable in the hands of the recipient. If you receive more than Rs. 50,000 during a financial year without any consideration, the entire sum of which the gifts are worth, is taxable. The limit of Rs. … [Read more...] about Income Tax on Gift Received

I-T Declaration Time: Declare your Tax Innings in Style

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View quick summary Very soon, your employer will ask you to submit Tax Declaration for Financial Year 2012-13. Based on your declaration, the HR/Finance department of your company calculates the Tax Payable by you. TDS is deducted accordingly, starting with your April salary. Think about it. If your employer plans to ensure that a reasonable tax payment is made by you over 12 … [Read more...] about I-T Declaration Time: Declare your Tax Innings in Style

How Tax Optimization Works

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As mentioned in our mailer that you have paid higher taxes in the past and unless you bring a change in financial choices, you will continue to pay higher taxes in the current F.Y. and the years to come ahead. And to bring these changes within income tax laws, you need to follow tax expert's advice who has complete and accurate knowledge. There are almost 30 options available … [Read more...] about How Tax Optimization Works

TaxSpanner Launches India’s First Professional Course for Income Tax

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TaxSpanner, India’s largest and most trusted website for e-filing of income tax returns today launched India’s first professional income tax course. Ankur Sharma, CEO, TaxSpanner.com says“Withalmost 4 crore income tax returns filed last year, and the number growing by 5-10% year on year, there is clearly a significant need for trained tax professionals in India. The government … [Read more...] about TaxSpanner Launches India’s First Professional Course for Income Tax