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The bride and groom receive many expensive gifts at the wedding. What tax is to be paid on wedding gifts? When will tax be imposed on wedding gifts?
Earlier, this week, Nitin Gupta, the chairman of the Central Board of Direct Taxes reported buoyant revenues and said on October 10 that they would mop up more taxes than the budgeted Rs 18.23 lakh crore for the current fiscal despite lacklustre performance on the corporate tax front.
How are earnings from assets like shares or mutual funds taxed? How to save long term capital gains tax under Section 54 and Section 54F? What things should be kept in mind while filing for tax exemption?
The Reserve Bank i.e. RBI issues sovereign gold bonds on behalf of the government. How is Sovereign Gold Bond better than gold? What is the tax on interest received from Sovereign Gold Bond? What will be the tax on pre-mature redemption of gold bonds? How much tax will be charged on the money received on maturity?
Alimony is an important aspect of the divorce process. In such a situation, it is important to understand how alimony is calculated? When will the alimony received from husband after divorce be taxable? How will the wife not have to pay tax on alimony?
Generally you have to pay tax on your earnings. But sometimes such a situation arises that you have to pay tax on someone else's income also. This is called clubbing of income. What is clubbing of income? When may you have to pay tax after gifting property to your son?
Clubbing of income will remain applicable till the child attains adulthood. After attaining adulthood, this income will be taxable in his own hands.
The total tax demand on e-gaming companies might climb to a height of Rs 1.5 lakh crore, claimed a report in the Business Standard.