Deduction on principal home loan payment is up to Rs.1 lakh

Shares received by you from your parents in the form of gift shall not be taxable in your hands. Parizad Sirwalla iStockPhoto Also Read If my parents want to gift me shares of companies they hold, how can they do so? They hold these shares in ...

Losing a loved one is a setback to any family; the pain could be greater if members fight over the property left behind. Therefore, a will is vital, as it clearly mentions how the assets should be distributed. Assets typically inherited Such assets ...

Vaibhav Sankla, director of H&R Block, a Pune-based tax consultancy firm, recalls some of his colleagues had to re-file income tax returns. "This was largely because they were confused between assessment year and financial year, and had filed ...

Giving small relief to tax payers, finance minister P Chidambaram today announced a tax credit of Rs 2,000 for persons with income up to Rs 5 lakh. The proposal, he said, will benefit 1.8 crore tax payers entailing a revenue sacrifice of Rs 3,600 crore. The ...