Tax Refunds

On the basis of various judgments, it was held that relief under section 54 cannot be denied to assessee if the capital gain amount is invested in more than one residential property provided he has complied with all the conditions laid down in the respective section. Other tax changes that are applicable for the current financial year 2013-14: Investment in Rajiv Gandhi … [Read more...] about Tax Changes FY 2013-14: Property investment equals more deduction

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

Changes in provisions related to Capital Gains: Tax rates for Short term capital gain have been bifurcated into 3 sections as per the Capital Gains Schedule: Short Term Capital Gain @ 15%, Short Term Capital Gain @ 30%, and Short Term Capital Gain @ applicable rate Similarly, tax rates for Long term capital gain have been bifurcated into 2 sections as per the … [Read more...] about New Rules of Tax Filing for 2014: Capital Gains, Commodity Trade and Purchase of Immovable Property

Salaried employees usually face problems related to tax implications in claiming House Rent Allowance (HRA). HRA forms a part of the taxable salary of an individual residing in his own house or in a rented property. The basic idea behind the concept of HRA exemption is to provide the exemption of rent paid by the employees in their taxable salary. It is granted by the employers … [Read more...] about What is HRA Exemption?

Shanti Bhushan, a renowned lawyer and a member of the Lok Pal Bill drafting committee, is seeking approval from the Supreme Court of India for the allowance of income tax deduction for the expenses made on heart surgery. Though the plea made by Bhushan has been dismissed by the Delhi High Court on Wednesday, he has decided to move further with the same stand. Bhushan grounded … [Read more...] about Shanti Bhushan Seeks Tax Deduction for Cardiac Surgery