Learn Tax at Mytaxreturns

Places where you can use Rs 500 and Rs 1,000 notes till November 24th, 2016

  The Government of India recently withdrew the legal validity of Rs 500 and Rs 1,000 currency notes. This means that all Rs 500 and Rs 1,000 notes with you in hand become invalid with effect from November 8th, 2016. Therefore, you cannot do any transaction with both of these currency notes.   However, the … Continue reading “Places where you can use Rs 500 and Rs 1,000 notes till November 24th, 2016”

All you should know about Rs 500 and Rs 1,000 ban – RBI Clarifications

  The Government of India recently withdrew the legal validity of Rs 500 and Rs 1,000 currency notes. This has led to chaos in the Country, with lots of questions running in the minds of people. The Reserve Bank of India has been issuing various answers to clarify confusions among people.   We have explained … Continue reading “All you should know about Rs 500 and Rs 1,000 ban – RBI Clarifications”

Income tax rates for 2016-17

  The Government of India prescribes applicable tax rates and slab rates every year in its annual finance budget. Income tax rates applicable for Financial Year 2016-17 are as follows: All Individuals (resident or non- resident, Men or Women) below the age of 60 years:   Illustration Now let us understand this with an example. … Continue reading “Income tax rates for 2016-17”

Deductions from House Property Income

What is income from House Property?

  “Rent” of every type of building, whether the same has been rented for residential or commercial purposes, is offered to tax as ‘Income from House Property’. Did you know Mytaxreturns with its Expert team can assist you in filing your return?  Click here to know more. Properties are divided into two categories: a.             Self- … Continue reading “What is income from House Property?”

Let an Expert assist you in filing your return

Recent Tax Insights

Categories

Skip to toolbar