Most taxpayers are happy selling their existing homes and investing the same money to buy another one as they are aware that any gains that they make on selling the old property is exempt if it is reinvested in (or used for constructing) another property

Anil Das (36), like several of us, does not spend any time to look at his finances nor does he intend to. His standard excuse, again like it is for most of us, is that he does not have the time for it.

Have you ever faced a situation when you have paid the income tax on time but still got the tax demand notice. It may happen at time when someone like your employer or CA etc is paying taxes on your behalf.

Those availing of treaty benefits would now have to file returns of their incomes in India, even if those aren’t liable to be taxed here.

The income tax department has allegedly detected tax evasion of Rs 7 crore in the business transactions of the Purti group of companies related to former Bharatiya Janata Party (BJP) President Nitin Gadkari.

In a bid to counter tax evasion, the Finance Ministry is contemplating making it mandatory for individuals and Hindu Undivided Families (HUFs) to report Indian assets and liabilities in income-tax (I-T) return forms.

Vaibhav Sankla, director of H&R Block, a Pune-based tax consultancy firm, recalls some of his colleagues had to re-file income tax returns.

The Information Technology Act (IT Act) was enacted in India in the year 2000. Its primary objective was to provide legal recognition and an enabling framework for transactions carried by electronic means, referred to as 'e-commerce'.

With the Income-Tax department on a drive to increase compliance, notices are being sent to individuals for old dues, which will now be adjusted against pending refunds.

If your annual phone bill is higher than your income tax submissions or if your passport has multiple visas in the past couple of years, then the Income Tax (I-T) Department may come knocking at your doors.

Stock market returns beat other investments in the long-term, but the returns are lumpy and volatile. It can take years for equity investments to pay. There are always long periods of drawdown.