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income tax return

Claim Deduction of Home Loan Interest from Employer

In the recent past, salaried employees have shown keen interest in taking advantage of the tax provisions by making investment in the residential house property. lt is very well known fact that salaried employee like any other tax payer were to construct a residential house property or were to buy a residential house property by […]

nikunj.j

tax evasion

What is tax evasion? Avoid it

What is tax evasion? Tax evasion is an illegal act; it takes place when an individual/organization/corporation intentionally avoids paying his/her/its true tax liability. As an individual, you have the freedom to assess your income and pay taxes. However, when you choose not to pay taxes by abstaining from declaring a certain source of income, then it […]

Maharashtra VAT on property

VAT (value added tax) is a form of consumption tax.  In a buyer’s perspective; VAT is the tax on the purchase price and for a seller; VAT is the tax only on the value added to a product, material, from an accounting point of view, by this stage of its manufacture and distribution. The 2011 budget […]

CommonFloor Editorial Team

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