Tax filing time for Assessment Year 2016-2017 is here. July 31 is the last date to file your taxes. In essence, the scramble has begun among the working folk to get their Form 16 and other investment proofs to ensure they save as much tax as possible. However, what if you are the one who does not have a Form …

You pay the biggest amount of money on Income Tax, as compared to other taxes. After all, the other times when you are paying taxes is when you are buying goods and services. On them, tax rates are lower as their price is low too. Coming back to income tax, it is an annual liability on a person that can be reduced. There are a …

Certain organisations work for welfare of masses. A few of them also start other activities to generate an income to survive on. However, most of these organisations solely rely on the donations made by general public. So, these organisations are able to thrive. However, these donations have come down in the recent past as cost of living has gone up. …

Tax deduction is a topic which covers a number of issues. Some of these issues are related to a person’s medical conditions. For example, if you or one of your family members is receiving treatment, then taxing you as much as a regular person will burden you financially. So, to ease the burden on your, the Income Tax Act has …

Filing income tax returns is not as easy as it seems. Not only do you have to consider  the amount of tax you have to pay but check where you can save money in the process. This is where the Section 80 of the Income Tax Act, 1961 comes into play. This section has various subsections that apply in various …

Tax is something you cannot avoid. From being levied on everything you buy to your earnings, taxes are everywhere. However, that does not mean you have to just give up. While you may not be able to save tax on things you purchase, it is possible to save the tax levied on your income. This is the purpose of this …