Category Archives: Tax Advice

Amount gifted to wife her asset

by SC Vasudeva Q. You have clarified that income from gift to wife, who has no source of income, will be clubbed with husband’s income. But if once the husband pays the tax on the income from that gift from … Continue reading

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No scrutiny of senior citizens’ returns

Tribune News Service Chandigarh, May 17 The CBDT Chairman, Sudhir Chandra, today announced that income tax returns filed by senior citizens above 60 years and small taxpayers with gross total income of less than Rs 10 lakh will not be … Continue reading

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Gift tax

by SC Vasudeva Q. I have a daughter aged two years. She receives cash gifts (shagun) on various occasions like on her b’day, religious ceremonies, visits to our relatives. Though individually small in amount, the collective sum becomes considerable per … Continue reading

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Medical expenses

by SC Vasudeva Q. I am a university employee. After an accident, I had to undergo orthopaedic surgery on my right arm for which a sum of approx. Rs 20,000 was incurred at a private nursing home. My employer has … Continue reading

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NRI’s taxability

by SC Vasudeva Q. I am an NRI employed in Australia. I get living away from home allowance once a year for coming to India. Such an allowance is exempt in Australia. Will it be taxable as I have some … Continue reading

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No tax on gratuity up to Rs 10 lakh

by SC Vasudeva Q. This is with reference to your clarification “whether income tax is deductible from the enhanced amount of DCRG (death-cum- retirement gratuity) i.e. in excess of Rs 3.50 lakh to Rs 10 lakh from the retirees of … Continue reading

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