Tax Refunds

Buying a house is one of the most important decisions of your lifetime. If you have available down payment (typically 15% of house value), you can borrow balance 85% against the house you intend to buy. Buying House for Tax Saving The benefits of home loan interest deduction and repayment of principal will be more than the house rent allowance exemption. Buying a house using … [Read more...] about Buying House through Loan is Better than Renting

Here are a few changes in the procedure for filing your tax return this year Changes in Exempt Allowances: It is now mandatory to display the breakup of Exempt allowances under section 10 in Form 16 as well as in the income tax return. The major allowances to be disclosed under this section are: Travel concession/assistance received u/s 10(5) Tax paid by employer on non … [Read more...] about New Rules of Tax Filing for 2014

Earlier, there used to be manual verification of DTAA relief claimed by NRI assessees at local wards of ITD. Now, the Central Processing Center (CPC) would be auto processing income tax returns of NRIs. Hence, NRIs are required to provide some additional information to facilitate this auto processing. Below information is to be included in Schedule FSI of foreign income: … [Read more...] about New Rules of Tax Filing for 2014: More Disclosures required by NRIs

e-Filing of Income Tax Returns or Forms is mandatory for: Any assessee having total income of Rs 5 Lakhs, Individual/ HUF, being resident, having assets located outside India, A resident individual who has the signing authority for any account located outside India, A person who claims relief under sections 90 or 90A or deduction under section 91 Like every year, you … [Read more...] about Checklist for 2016 Income Tax Return Filing

We can’t give you one reason why you should choose TaxSpanner to file your tax returns. We can give you 20! TaxSpanner.com is the largest e-filing company in India, with lakhs of taxpayers filing their returns through us. But filing the largest number of tax returns for the past three consecutive years is not the only reason why you should choose us. Here are a few other … [Read more...] about 20 Reasons to choose TaxSpanner to eFile your ITR