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How to claim refund for tax deducted on fixed deposit interest by the bank?

New Delhi, May 1 -- My mother is a senior citizen. She has some fixed deposits with a bank and had earned interest of Rs.3.30 lakh, which crossed the income tax exemption limit of Rs.3 lakh. So she de... Read More


What things do I need to consider for buying a critical illness insurance plan?

New Delhi, April 30 -- Iam 28 and earning Rs.6 lakh annually. I have term insurance of Rs.60 lakh. I also have health insurance of a family floater of Rs.5 lakh covering me, my wife and our 3-year-old... Read More


Income tax benefits on second home loan - Explained

New Delhi, April 20 -- I have taken a home loan in May 2022. I got possession of the flat in March 2024. I will get the income tax benefits in respect of interest paid as well as the principal amount ... Read More


How to calculate income tax benefits on home loan EMIs - explained

New Delhi, April 16 -- With skyrocketing prices of houses, an average person can't buy a house without taking a home loan. In this article, we will discuss various aspects of tax benefits available fo... Read More


How the profits on sale of inherited shares will be taxed?

New Delhi, April 16 -- I have inherited some shares which are in demat mode. I have no idea what was the purchase price of these shares. If I sell these shares in the market, then how to calculate lon... Read More


Can I claim capital gains exemption for consolidating multiple properties into a single residential property?

New Delhi, April 11 -- I am sellingthree residential house properties all during the financial year2024-25. My aggregate indexed long-term capital gain fromthe sale of all three properties is Rs.95 la... Read More


Home loan for under-construction property: Will I get income tax benefits?

New Delhi, April 4 -- I wish to obtain a home loan for booking an under-construction property. Can you please guide me on how to go about it? When would I be able to get the tax benefits for the home ... Read More


Legal Dilemma: Rights of widowed daughter-in-law in coparcenary inheritance - Explained

New Delhi, March 28 -- Can a widowed daughter-in-law demand her share or dissolution of her father-in-law in which her late husband was a coparcener? Under Hindu Law, two categories of members consti... Read More


Buying property in Australia? Here are income tax compliance you should know before you purchase

New Delhi, March 23 -- I am planning to buy a residential property from a person who is a resident of Australia for Rs.75 lakh. I understand that since the sale consideration exceeds 50 lakhs I have t... Read More


Income tax: What are the capital gains implications of selling a flat without taking possession?

New Delhi, March 12 -- I booked a residential apartment in March 2021 and paid Rs.50 lakh ( Rs.18 lakh down payment + 38 lakh home loan), which is being sold for Rs.95 lakh now. The apartment is now r... Read More