taxpayer

Many tax advantages are possible only through a Will. For example, a separate income-tax file for a Hindu undivided family can be established by transfer of property through a Will. Similarly, bequests can be made to minor children and minor grand children through a Will in a manner such there is no clubbing of income […]

House Rent Allowance [HRA] is given by the employer to the employee to meet the expenses in relation to the rent of the accommodation which the employee might have to take for his residential purpose. The HRA so paid to the employee is taxable under the head “Income from Salaries” to the extent it so […]