Tax Deduction

Reserve Bank of India is likely to deliver another rate cut—third in a row—in its upcoming June meeting, while the government has provided a tax cut in the Budget, meeting the material conditions for a consumption boost. However, uncertainty is looming, especially with AI taking away jobs and a rejig of global order affecting trade. So, will India’s consumption be able to keep pace with the economy beyond FY26? Watch the discussion with Debopam Chaudhuri, chief economist, Piramal Enterprise Ltd and Dhiraj Nim, Economist, ANZ

Pitch Report: Realty players continue to look for taxation support for buyers and developers in Budget 2025

They will also be tracking whether the definition of affordable housing will be revised

How much tax is deducted from your salary: A comprehensive guide

Understanding how much tax is deducted from your salary can seem confusing at first, but it’s an important part of managing your finances. Whether you’re starting a new job or just trying to get a better handle on your pay slip, knowing how much tax you’ll pay can help you plan better.

Tax benefits for Ayodhya Ram Mandir donations: How to claim tax deductions in your ITR? | Explained

Following the 'Pran Pratishtha' for Ram Lalla's idol, donations for the temple are surging, doubling every hour, as individuals worldwide contribute to the Ram Mandir. Now, taxpayers can seize the opportunity to make contributions and claim deductions in their income tax returns. Curious about the process? Watch the video to get guidance on claiming tax benefits while supporting the construction of the Ram Mandir!

Avoid fudged or incomplete documents when submitting tax deduction documents

Providing evidence of investments and expenses eligible for tax deductions is a crucial responsibility. However, it is of paramount importance to refrain from submitting false claims or incomplete documentation, as it could lead to potential complications and issues.

Salaried, HNIs, trusts under income tax lens for mismatch in tax filing

Tax sleuths have sent intimation notices to about 22,000 taxpayers for the assessment year 2023-24, including salaried individuals, HNIs, trusts, and Hindu Undivided Families (HUFs) because of discrepancies between the deductions claimed in their tax returns and the information provided in their Form 16 or Annual Information Statement (AIS).

20% TCS ‘terrible policy, period’: Experts cry foul over tax on foreign spending via credit card

While some explained how unnecessary the move is, others simply disregarded the decision saying, "20% TCS on LRS. Why?", "ludicrous policy" and more.

MC Explains | What is a 'zero-coupon, zero-principal' instrument?

The government has cleared 'zero-coupon, zero-principal' instruments for listing as securities on the social stock exchanges. Here’s the lowdown

Income tax benefits on medical treatment and health insurance

Premiums paid/reimbursed by the employer are tax-free perquisites for the employee

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.

Can children’s school fees paid by the employer be claimed for tax deduction?

Strictly speaking, since the fee has been paid by the employer, it does not satisfy the condition of ‘paid by the individual’ and hence should not qualify for a deduction in the hands of the employee.

Budget 2019: Home Loans Interest exemption increased for affordable homes

Houses costing less than Rs 45 lakh can get the benefit

Would the happy tune continue for home owners this Budget?

Whether the rental exemption on second house, TDS cap raise continue remains to be seen

Keep your date with filing income tax returns

The process has become almost entirely electronic. You must use the correct forms and report the exact details of income as well as deductions

Is transport allowance paid to employees fully taxable?

Lack of clarity leads to a controversy of whether such expenses are to be treated as taxable, considering them to be personal, or not taxable considering them to be official.

PPFAS mutual fund gets ready to launch 2nd equity fund in 6 years

PPFAS Asset Management's CIO Rajeev Thakkar told Moneycontrol that the fund house would launch this scheme mostly in the first week of July 2019.

Budget 2017: Tax terms that may figure in Budget & what might change

Finance Minister Arun Jaitley might announce some major changes in the tax landscape. Here, we explain a few taxation terms that might crop up and what is likely to change relating to them.

Budget 2017: What the real estate industry wants from Jaitley

The real estate sector has been plagued by many challenges, including delays in projects owing to funding issues, complicated government diktats, unclear records and land titles and delays in obtaining approvals. The passage of &#82

Budget 2017: Health insurers seek tax incentives to boost penetration

Health insurance providers feel tax incentives to salaried class on purchase of health insurance should be raised. Also, exemption of service tax on health insurance premiums and preventive health check-ups can prompt more people to buy health cover.

Missed investment declaration deadline? Here's what you can do

There is no reason to panic since you have time till March 31 to make the necessary investments for tax saving.

Finer points about income tax benefits related to life insurance

The conditions for the tax free benefit from the proceeds of insurance policies mentions details about the extent of the premium to be paid as compared to the sum assured.

Loan against property: What you need to know

Recently, loan against property (LAP) has emerged as a popular form of long-term loans, especially among the self-employed. According to a recent report from CRISIL, this loan category is expected to grow 22% annually &#82

Changing job during year? How to offer multiple salaries to tax

Many individuals do change jobs and they have to face the problem of combining salaries from two employers. Here is how to go about it.

New home loan schemes to fuel your home ownership dream

Home loan companies and banks have launched schemes that would make buying your dream home a reality.

How to claim HRA tax benefits

House rent allowance (HRA) is a part of your salary and can be claimed to save on income tax. Here are some tips for the same.