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Specified Individuals And Hindu Undivided Families

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  News for Specified Individuals And Hindu Undivided Families

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High value fixed deposits to earn higher rate

Unbreakable high value fixed deposits will soon earn higher rate of interest with the Reserve Bank of India allowing banks to offer differential rates. The higher interest rate will be payable......

No tax on income up to Rs 7 lakh, surcharge cut to 25%

Finance minister Nirmala Sitharaman on Wednesday announced no tax for those with annual income of up to Rs 7 lakh under the new tax regime but made no changes for those who continue in the old......

ITR forms for 2020-21 give taxpayers option to choose new tax regime

The Income Tax department has notified forms for filing I-T returns for 2020-21 fiscal, the Central Board of Direct Taxes said on Thursday. Illustration: Dominic Xavier/Rediff.com "Keeping in view......

Missed filing IT Returns?

'If you miss the deadline, you can still file a belated tax return till March 31, 2021, with a fee under Section 234F, which could be up to Rs 10,000, in addition to an interest under Section 234A......

Of NRIs and gifting property

M N Sethi is a Non-Resident Indian with relatives in India. Owing to a flourishing business, he is interested in gifting a house in India to his nephew. However, he is not sure about the taxation......

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