Permanent Account Number (PAN) For NRIs And PIOs

In this article we are going to talk about the importance of Permanent Account Number (PAN) Card for a Non Resident Indian (NRI) or a Person of Indian Origin (PIO). As we... Read more »

Purchase Or Transfer Of Immovable Property By NRI/PIO In India

Indian citizens who migrate to some other country for an uncertain duration are known as NRIs. Today lots of people are migrating to other countries for different reasons like education, employment etc.... Read more »

How To Check ITR V Acknowledgement & Receipt Status Online?

Income tax department has set up a platform for filling Income tax returns online. If you are one of those who have filled your income tax returns in electronic form without a... Read more »

Income Tax (IT) Exemptions On House Rent Allowance (HRA)

HRA stands for House Rent Allowance, it is an allowance that almost every salaried employee receives as part of there salary package from there employer to meet the cost of rent that... Read more »

Is There Any Penalty/Late Fee On Late Filing Of Income Tax Return?

The last date for filing income tax return for an individual assessee is 31st July. In spite of knowing the deadline sometimes you could not file your income tax return on time.... Read more »

Difference Between Form 16 & Form 16A

In respect of Tax deducted at source,or tax paid ,on or before 31st Mar,every deductor must issue a certificate of deduction of tax at source to every person from whom tax has... Read more »

Form 26AS – What Is Tax Credit Statement? How Is It Useful For A Taxpayer?

A big part of income tax is collected in the form of Tax deducted at source (TDS). It is more common in the case of salaried employees. As per the income tax... Read more »

Are You Salaried With Upto 5 Lakhs Earnings? Exempt From Filing ITR

Are you salaried and have income below 5 lakhs then you might not need to file an income tax return (ITR) provided you meet some conditions. Conditions indicates that this exemption is... Read more »

Financial Planning Will Forward Your Footsteps Towards Debt Freedom

When you are struggling with debts and you want to get rid of it, it is very important that you learn to manage your finances properly. You should understand that money is... Read more »

What Is DTAA (Double Taxation Avoidance Agreements)?

Most of the countries in the world follow the same practice to levy tax on the income or capital of there residents. Following the same practice India also impose Income Tax on... Read more »

NRE, NRO Or FCNR–Which NRI Account Type Is Better For You?

All Non-Resident Indians (NRIs) face a dilemma at the beginning of their NRI status – What kind of bank account should they maintain in India? Although there are several options available for... Read more »

Types Of Income Tax Return Forms In India For The AY 2011-2012

Filing of Income Tax returns is a legal obligation of every Individual/HUF, Firm/AoP/BoI, Companies and trusts whose total income for the previous year has exceeded the maximum amount that is not chargeable... Read more »

What Is UID?

Unique Identification Number (UID), is an identification system where all the citizens of India will be allocated with a unique number which will serve his/her identity for a variety of identification purposes.... Read more »

What Is Escrow?

The word “Escrow” comes from the French word “escroue” which literally means a piece of paper, which signifies a deed which the third party “holds on to” until a transaction is finalized.... Read more »

Tax Implications On Capital Gains – Short Term & Long Term Capital Gain

Capital Gain Tax (CGT) is a tax charged on Capital gains, an income that is derived from the sale of an asset is known as Capital gain. Capital assets can be in... Read more »