Hindu Undivided Family (HUF) is defined as a separate tax entity that consists of individuals lineally descended from a common ancestor and includes their wives and unmarried daughters. HUF is recognized as a distinct assessable entity under the Income Tax…

Introduction: Income tax department have made their intentions clear in Union Budget 2023 to make new tax regime as default regime to file Income Tax Returns of all kinds of taxpayers. Earlier old tax regime was the default regime to file…

In India, many people are not aware about their eligibility and liability to file the Income Tax Return and hence they end up either not filing the ITR or under reporting the income that is subject to be reported on…

Introduction: Almost every individual dreams of having a house of his own. Many a times, an individual invests his entire life savings in buying a property on his name. This is sometimes done through utilising one’s long saved own funds or…

Deduction of tax at source from income has been one of the most crucial part of compliance for every set of persons as prescribed by law. Provisions of Deduction of Tax at source are attracted upon fulfilment of certain conditions…