Tax, Investments and Retirement

Senior Citizens (above 75 years) who get pension and interest income only are exempted from filing returns

RBI’s directions on Auto re-designation of banking a/cs into Senior Citizen Account – No clarification offered Please peruse below the text of an important and relevant portion of ...

Recently our CBDT isued a press release saying it cannot punish compliant and honest tax payer by extending various due dates for the assessee who are dishonest, lazy and non compliant and our secu...

Most of senior citizens are stuck with stocks of illiquid and delisted companies. To help them a window may be created to extinguish such stocks and set aside such investments against long term ca...

Higher exemption limit in tax slabs: 1. For FY 2019-20, income tax exemption limit for resident senior citizen (i.e => 60 years , < 80 years) is Rs 3,00,000, whereas the same for normal ...

1. Non submission of Income Tax Return if TDS is deducted Many taxpayers assume that if taxes have been deducted in the form of TDS, then they are not supposed to file an income tax return bec...

Covid-19 has affected almost all citizens and residents of India. People are jobless and businesses are either shut down or in a loss. People are unable pay their EMI's. Loan moratorium relief was ...

As per news item in Financial Express of 10 September 2020 the refund of income tax from 01/04/2020 to 08/09/2020 is given below: • Total Refunds: Rs.1.01 Lakh Crore to 27.54 lakh taxpaye...

Step 1 Go to the Income Tax e-Filing portal, www.incometaxindiaefiling.gov.in Step 2 Login to e-Filing portal by ent...

Since March 2020 every one has suffered due to lock down after lock down due to Covid-19. This is a request to PM to exempt 130 crore Indians from personal income tax for the Financial Year 20...