An Indian-origin individual living outside India is termed a Non-Resident Indian (NRI). The Income Tax Act,…
Tag: taxable income
How a 10% surcharge can swallow up to 70% of your income above ₹50 lakh
The concept of a surcharge is simple – it’s an extra tax on your total tax…
What are tax-saving index mutual funds and how do they work?
Tax-saver index funds, also known as equity-linked savings schemes (ELSS) index funds, are a subcategory of…
What type of investments will help reduce my taxable income?
I am 27-year-old working for a multinational company (MNC), drawing a net salary of ₹1.4 lakh…
How tax on rental income works for NRIs?
How is income from house property taxed in India for NRIs or non-resident Indians? Are there…
Is the rent paid for redevelopment projects taxable?
At present, construction work is going on at a fast pace on about 11,125 building sites…
Importance of timely selection of tax regime
It is the beginning of a new financial year and employers have started providing tax declaration…
What are the tax rules for foreign retirement accounts?
For non-residents who have worked abroad and subsequently returned to India and became tax residents here,…
How legal heirs of deceased can file IT return
My cousin died in January 2021. All his savings bank accounts have been transferred to his…
Focus on 3 Income Tax Amendments in Budget 2022
The government today introduced some amendments in the Budget 2022 in the Lok Sabha. The budget…