Section 80GG of the Income Tax Act, 1961, in India provides a deduction for individuals paying rent for house properties. This deduction is particularly available for those who do not receive House Rent Allowance (HRA) from their employer. Form...

TDS is a compliance where many taxpayers face numerous issues and complexities. It is possible that the TDS deducted from the taxpayer's income is more than what they are liable to pay. The provisions contained in Section 197 of the Income Tax Act,...

Many individuals, businesses or entities are situated outside India but they have certain incomes arising in India. For foreign nationals or businesses situated outside India, provisions of Double Taxation Avoidance Agreements(DTAA) are applied and...

Non-resident Indians always end up in a confusing task about managing their finances especially earnings and investments, from outside India. Among the many options available, two types of bank accounts stand out for their unique benefits and...

Every taxpayer is looking for ways to save their taxes as taxes acts a pinch to taxpayer’s pocket. In search of these ways to save taxes, income tax department has given certain specific exemptions in income tax on particular incomes. Section 10 of...

Budget in India is the most anticipated event, where every taxpayer is hoping that they get benefited from it. In current year, Budget was declared on 23rd July, 2024 due to General Loksabha Elections.This year’s budget was mainly focused on...

Voluntary retirement scheme is a mechanism used by employees seeking retirement earlier than their actual retirement due date. Under VRS employees are not forced to leave their job but they choose voluntarily to terminate their employment....