Explained: All about how the LTA voucher scheme would be taxed
Those with an LTA component in their salary can save tax on taxes by spending a ‘specified amount’ on certain goods, without having to make any trips
How can single mothers save money, and where should they invest?
If you are looking for a long-term investment, investing in equity funds (large-cap or blue-chip funds in particular) is a great option. For medium-term goals, investing in hybrid funds is a good idea
Income tax returns 2021-22: Here are the financial transactions that will get reported to the I-T department
All capital gains, dividends and interest earned will be reported to the tax department
Income tax returns: What you must know about interest on dues
Taxpayers should calculate all interest dues and pay them along with the self-assessment tax before e-filing their income tax return
The Code on Social Security, 2020: How it impacts wages and benefits of employees
The new code has new rules for contribution to social security and payment of employee benefits, including retirement benefits
New Form 26AS: The Income Tax department’s compliance initiatives decoded
A new Form 26AS format is effective from June 1, 2020, which will now include detailed financial transactions
COVID-19 tax-saving extension: Here are the key operational aspects
Banks may have to align systems to accept deposits for a previous financial year
Which tax regime should you opt for?
It is important to note that senior citizens will not get a higher exemption limit under the new regime
How gains from mutual funds are taxed
Investors must be aware of how their investments are taxable on redemption
Submit these supporting documents to your employer to claim tax deductions
Various income-tax deductions and allowances are calculated and allowed only upon submission of proofs by an employee
Boosting tax morale: How governments can make citizens willingly pay taxes
Developing countries have much to gain from boosting tax morale to fund their tax collections and thereby improving their economic status
Needed: Lowering of personal income tax as proposed in the DTC
The slab rates proposed would rationalise the present ones and do away with surcharges.
File revised tax returns after rectifying errors
We may make an error due to insufficient information or lack of knowledge.
Budget 2019 tweaks taxes on insurance maturity proceeds
The rate of TDS shall be 5 per cent and it shall be deducted on the ‘income’ portion and not on the entire amount.
Pay tax on the prize money from fantasy games
The applicable tax rate is a flat rate of 31.2 per cent on the income from winnings from any game of any sort
Changed jobs? Here's how you file your tax returns
Declare previous salary to your new employer to avoid paying extra tax
Viewpoint | Things to keep in mind while filing your income tax return this year
If you are a salaried individual, Form 16 is the most important document for filing your tax returns. It has details of PAN, TAN, address, salary earned and tax deducted
Viewpoint | Here's what the changes in Form 16 will mean for you
Now Form 16 will carry each and every detail and amount of exemption on allowances claimed by an employee. Therefore, this increases disclosures of salaried taxpayers
Viewpoint | Prefer dealing in cash over digital mode? Keep in mind these laws to avoid trouble
The law bars taxpayers from making payment for expenses in excess of Rs 10,000 to a person in a day via cash. Expenses paid in cash in excess of this limit, cannot be deducted from the income of a business or a profession.
Is it mandatory to link Aadhaar with income tax returns?
Aadhaar linkage has become important for several transactions done online, such as on the EPFO website, at the time of opening or closing bank accounts or making financial investments online
Tax guide for YouTube bloggers: Here's how to determine your income tax liabilities
You will be taxed as a sole proprietor unless you register your business as a company, LLP or Partnership Company
TDS on property sale: Answers to common queries on deduction and payment
The TDS amount that is deducted must be deposited with the government within a period of seven days from the end of the month in which the deduction is made.
June 1, Global Parent’s Day: Tips for parents to save on their child’s education
Quality education is very important for the upbringing and future of the child.
Do you run a small business? Tips to file tax under GST
Expert estimates say that only about 50% of the sector is technologically capable of complying with GST rules.
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