Sunday, December 16, 2018
Rules for tax planning

Private Trust- Rules for tax planning

Private Trust- Rules for tax planning Optimum use of basic exemption limit is one of the most powerful tax planning tools. More taxable person or...
Rules to Tax Planning

4 Golden Rules to Tax Planning

4 Golden Rules to Tax Planning  “Right to tax planning is a legitimate right of the taxpayers provided it is within the framework of law” If...
Income Tax Return

What if you forget to verify your Income Tax Return?

What if you forget to verify your Income Tax Return? Have you filed your ITR and forget to verify it? Not a big issue, “it’s...

Interest on Bank Deposits & eligibility for deduction u/s 80TTA Vs. 80TTB

Presently, section 80TTA provides Rs 10,000/- deduction to all individual/HUF taxpayers. Section 80TTA of the Income Tax Act-1961 reads as under: Deduction in respect of interest...

Differential Tax Treatment of Interest on Bank FDR – Senior vs. Non senior Citizens

Deduction in respect of interest on deposits in savings account.  Section 80TTA: (1)Where the gross total income of an assessee, being an individual or a HUF,...