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Balwant Jain

Mint Author

ARTICLES BY BALWANT JAIN

A TRP, as per official rates, can charge a maximum of Rs250 for filing one ITR. Photo: iStock

Do you have to file an ITR when you do not have any tax liability?

4 min read . 01 Jun 2023

After abolition of the Gift Tax Act, the liability to pay tax on gift is on the recipient of the gift and the donor does not have any tax liability.

How income tax rule implies on gifts given from PPF maturity amount?

1 min read . 27 May 2023

Mutual funds: Any equity-oriented investment becomes long-term if held for more than 12 months. (iStock)

Income tax rules on mutual funds profit explained

4 min read . 12 May 2023

Income tax rebate under Section 80EEA can be claimed when home loan has been taken from a bank or a housing finance company.

ITR filing: Income tax exemption, deduction that home loan borrowers should know

1 min read . 11 May 2023

Income tax rules: Against your rental income of Rs. 1.80 lakhs, you will get a standard deduction of Rs. 54,000/- leaving Rs. 1.26 lakhs. (iStock)

ITR filing: Tax rules on income from house property that your should know

1 min read . 06 May 2023

Income tax rules: Children can not claim deduction for payment of life insurance on the policies of their parents.

What income tax rule says on premium paid for life insurance policy of spouse

1 min read . 28 Apr 2023

ITR filing: In case the house is sold after 24 months, you are allowed take indexed cost as your cost of acquisition for computing long term capital gains. (iStock)

How income tax rule applies on residential house proceeds — explained

2 min read . 25 Apr 2023

The distribution need not be equal and can be unequal if all the members agree.

HUF rules: Can a wife become Karta after death of her Karta husband?

1 min read . 23 Apr 2023

Income tax rule: If you have shown it on accrual basis, you can start offering the interest income from NSC from second year onward on accrual basis and claim the 80C deduction, says Balwant Jain. (iStock)

NSC interest declaration: What income tax rule says while ITR filing — explained

2 min read . 18 Apr 2023

Investment instruments such as PPF give you tax benefit which you should consider while investing. Photo: iStock

Should you remain invested in PPF account without contribution after 15 years?

2 min read . 09 Apr 2023

Income tax rule: As per the provisions of Section 64 of Income Tax Act, when an asset is gifted by one spouse to another, any income arising on such gifted property is required to be clubbed with the income of the spouse transferring such asset. (iStock)

How income tax rule applies if husband buys plot in the name of his wife?

2 min read . 08 Apr 2023

ITR filing: For claiming exemption under Section 54 the investment has to be made only in one house and if investment is made in more than one house, you have to choose the house in respect of which you want to claim the exemption. (iStock)

Is tax rebate available on two houses bought from sale proceeds of one home?

2 min read . 23 Mar 2023

The term plan will take care of her education and marriage needs in case you are not around, says Balwant Jain. (MINT)

Why you should not mix insurance with investment while investing for girl child?

1 min read . 22 Mar 2023

A taxpayer can claim deduction under Section 80C for repayment of home loan to the extent of 1.5 lakh rupees every year along with other eligible items.

Is tax rebate possible on home loan repayment from residential ppt sale proceed?

2 min read . 06 Mar 2023

Changes proposed in new tax regime

2 min read . 02 Feb 2023

Presently there is no restriction on the amount upto which you can claim the exemption from long term capital gains by investing in a residential house. (Photo: iStock)

Proposals relating to Capital gains in Finance Bill 2023

3 min read . 02 Feb 2023

You can claim exemption under Section 54EC by investing the indexed LTCG in capital gains bonds of specified entities like REC, NHAI, PFC or IRFC within 6 months from the date of transfer

Possession of a plot given but sale deed not executed. Income tax rule explained

2 min read . 30 Jan 2023

Even if the EMIs were paid directly by you or you reimbursed it to your wife, you would not have been able to claim these deductions (Photo: HT)

Flat is in my wife's name but I pay for EMIs. Can I claim income tax benefits?

1 min read . 30 Jan 2023

Bank locker (Mint)

Found gold in mother's locker after she died. How it will be taxed if I sell

1 min read . 30 Jan 2023

There are no restrictions as to the number of times one can make a gift during a year either to the same person or to different persons (Photo: iStock)

Gift received or given to relatives. How income tax is calculated?

1 min read . 20 Jan 2023

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