Meaning:- HUF means a Hindu Undivided Family and for the purpose of Income Tax, It is an entity separate from its members. Although an HUF is governed by Hindu Law Board , even Jains, Sikhs and Buddhists can form an HUF. An HUF has a separate PAN and the Return of Income of an HUF […]
Due to Lockdown amid Corona virus, Government had announced various measures to ease the burden of financial stress on Common man. However, some of the relaxations ceased to exist post 1st July, 2020. Following is the list of personal finance changes post 1st July,2020 ATM Withdrawal Restrictions :- On 24th March,2020 it was announced that for […]
The Income Tax Act,1961 provides for a deduction for interest paid on Loan taken for educational Loan for Higher Studies under section 80E. Since Higher Studies are very expensive , this section aims to reduce the burden on the taxpayer by providing a deduction from his Taxable Income. Eligibility:- Only an individual Taxpayer can claim […]
