Category Archives: Other Sources

Adding Savings Bank Interest in your Income-tax return

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Generally taxpayers do not evaluate or disclose interest earned from saving bank account while filing Income-tax returns. It is taxable under ‘Income from other sources, however savings bank interest is exempt upto Rs. 10,000/-. It is always better to disclose this and take advantage of deduction available under section 80TTA. Click… Read more »

Make sure you have included these incomes in your Income-tax return

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When we file our Income-tax return, we tend to specifically include our main Sources of Income like Income from salary, Income from business or profession, etc. But many a times, we skip to include some Incomes which come under the head “Income from other sources”. Some of these incomes which… Read more »

Take care of taxes while gifting your beloved on Valentines!

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It is the month of february, better known as the month of Love! You might be planning to gift your valentine with an expensive gift. But do take care of taxes. As per the Income-tax Act, gift from relative is exempt (so it’s better to marry your valentine first and… Read more »

Taxation of Home Tutors

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With the advancement of education, the techniques and study habits of children these days are also changing for better! Parents, nowadays prefer home tutors for their children as they do not have enough time to look after their children’s studies due to their busy schedules. As a result, the number… Read more »