Maximize your Tax Savings!

by Team MMR | 7 November 2013
Everyone’s tax-related worries usually stem from lack of understanding of the tax slabs or confusion related to tax saving options. Many people don’t even look beyond Section 80C, 80CCC and 80CCD. Tax planning is very important and ideally must commence with the financial year itself rather than at the end of it. [More]

Tax Saving Tips

Gift Tax Act And Why Gifts Are Taxed!

by Varun Advani | 8 March 2013
The Gift Tax Act is one Act that is truly despised by many. This is because many of us believe that the action of gifting someone money, an object of desire, or even property, was a noble gesture and to tax such a gesture was truly appalling! [More]

Everything Income Tax

Collection And Recovery Under Expenditure Tax Act

by Varun Advani | 6 March 2013
The Expenditure Tax Act of 1987 states the collection of direct taxes for charges incurred at certain hotels, restaurants and similar establishment. There are certain rules that specify the collection and recovery of this Expenditure Tax and both the Assessees as well as the persons responsible for depositing this amount to into the coffers of the Income Tax Department of India are responsible for the correct payment as per laws laid down by the Income Tax Act of 1961. A series of Clauses, Sub Sections, and Sections of the Act deal with the recovery and collection of this tax amount.As per the... [More]

Everything Income Tax

Importance Of The Finance Act

by Aashish Ramchand | 6 March 2013
Every year, a new Finance Act is introduced to the people of India and the Central Government, through the Budget Session in Parliament, gives the nation a brief introduction to the highlights of this Act. [More]

Just Blogging

How to rectify mistakes in an order or intimation sent by the Income tax department?

by Team MMR | 20 November 2012
If you are wondering how to rectify a mistake in an order or intimation sent by the Income Tax Department then this article is for you. Our experts explain which mistakes can be corrected and the procedures for the same. [More]

Dealing with Income Tax Notices