Question: What are the benefits of forming an HUF for tax savings? How can an HUF be formed/ created? Answer given by Dr.
HUF or Hindu Undivided Family, is a legal entity recognized under Indian tax laws. It consists of a group of persons, all lineally descended from one common ancestor, including their wives and ...
Your home office, car, insurance, retirement savings, and even your education bills could get you a tax break Amy Fontinelle has more than 15 years of experience covering personal finance ...
One can leverage the Hindu Undivided Family (HUF) to lower their tax burden. A HUF functions as a separate entity for tax purposes, allowing the couple and the HUF to claim tax deductions and ...
HRA tax exemption: Many employees have the provision for House Rent Allowance (HRA) as a part of their salary structure. To lower their tax burden, many claim HRA exemption if they live in rented ...
Not all taxpayers are eligible for this benefit. The benefits are restricted to salaried employees and pensioners. Businesspersons or self-employed professionals cannot avail of the tax break.
If you own a home, you're eligible for several special tax breaks. But many of these rules changed over the past few years, especially after the Tax Cuts and Jobs Act was signed in December 2017.
Opinions expressed by Forbes Contributors are their own. I provide insights on Social Security claiming strategies. As we approach April 15, let’s discuss the federal taxation of your Social ...
Whether you receive cash tips as part of your job in the gig economy or are giving a cash gift to a relative, you need to know when and how to report that money to the IRS. There are different ...
The news may not be so bad even if your state does tax Social Security. As you approach and enter retirement, you might reasonably wonder whether your Social Security benefits will be taxed by ...
In fact, one study of investment portfolios from 2000-2020 by the Teachers Insurance and Annuity Association of America found that REITs helped improve risk-adjusted returns. As a general rule ...
"We have noticed a number of inconsistencies in the NBR regarding tax exemptions for the IT sector," he said. "According to them, the IT sector makes annual profit of Tk 5,000 crore and revenue of ...