…and you could have saved the tax

Executive Summary: There are many cases when one’s tax liability is ascertained only at the time of filing IT returns. It is possible to save taxes by taking some proactive actions such as – using HRA + Home loan benefit, paying rent to parents, making use...

Why is GST important?

The Goods and Service Tax is a value added tax which is levied on both goods and services, and which will replace all other indirect taxes which are currently in place. GST is expected to be a critical reform in spurring growth in the economy. When introduced, GST...

Gift Tax and NRIs

Do NRIs have to pay gift tax? What is the tax treatment if NRIs receive gifts? What is a gift deed? We have tried to answer such questions around gift tax in this article. Download PDF of this article here Non Resident Indians (NRIs) are Indians who are living abroad....

All you wanted to know about Wealth Tax

Wealth Tax is the tax paid for ownership of assets, even if the asset does not give you an income. If your net wealth (assets less the liabilities used to get these assets) exceeds Rs. 30 lakhs as on 31st March in a year, you will be required to pay Wealth Tax at the...