posted on 24 October, 2016

What should you do if you receive an Income Tax Notice?

A notice from the Income Tax department can be stressful, especially because many of us do not understand what it entails or what needs to be done in response. To get a clearer understanding of the situation, we spoke to financial experts CA Rishabh Parakh, and he outlined a few steps that ...

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posted on 16 September, 2016

How to avoid receiving an Income Tax notice

In our previous article, we told you the circumstances under which you could get an IT notice. Read further as we tell you how to make sure you do not get an IT notice. The Income Tax department becoming net savvy and going online has made it easy it for them to identify discrepancies i...

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posted on 30 August, 2016

Why you could receive an Income Tax Notice

Any communication from the Income Tax department, be it a simple enquiry or an intimation or receiving a notice, can be unnerving. Recently, the Income Tax department issued 7 lakh letters to those who have entered into high value transactions without quoting PAN – transactions like c...

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posted on 22 July, 2016

Filing Income Tax returns - What you should know

Most taxpayers pay their taxes well before the end of the financial year i.e. 31st March. For salaried employees, it gets deducted through TDS and gets paid in regular instalments round the year. But when it comes to filing for Income Tax returns, many taxpayers tend to miss the deadline of...

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posted on 07 June, 2016

What is the Krishi Kalyan Cess?

The government has recently introduced the Krishi Kalyan Cess to fund programmes for the welfare of farmers. On June 1, 2015 Service Tax rates were hiked from 12.36% to 14%. The Swachha Bharat Cess was also introduced at the rate of 0.5% from 15th November last year. With the introduction o...

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posted on 20 May, 2016

Salaried Employees to submit proof for LTA, HRA claims

The CBDT (Central Board of Direct Taxes) has introduced a new form (Form 12 BB) for claiming tax deduction towards LTA, LTC, HRA & interest paid for home loans. The new form mandates people to furnish proof of travel while claiming LTA, LTC, and details of landlord in case of HRA claims...

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posted on 20 April, 2016

6 questions we need to ask before financial planning

What is the best way to ensure financial stability? The answer is simple - by planning. A few financial resolutions and goals can help sort out a person’s financial year, and one’s life. As we begin a new financial year, here are some important questions to ask, and some tips an...

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posted on 07 April, 2016

What is India's Union Budget?

The Annual Financial statement of India, or the Union Budget is announced every year on the last working day of February. This year, the new Budget came into effect from the 1st of April 2016. We wanted to understand the meaning of the Union Budget, and how it is divided among the different...

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posted on 07 April, 2016

The impacts of Budget 2016-17

The Budget plan for the financial year 2016-17 came into effect from the 1st of April. To understand how this new budget will affect the lives of common people, we spoke to financial expert CA Rishabh Parakh, and created this video based on his inputs. Watch this video to know how Budge...

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posted on 02 March, 2016

Highlights of Budget 2016-17

Every year, on the last working of February, the Finance Minister of India announces the Union Budget Plan for the next financial year. The Budget for the financial year 2016-17 was announced on 29 February 2016. What are the highlights of the new budget 2016-17, and how will the changes in...

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