HOW TO SAVE INCOME TAX
After leaving job, how long will my EPF account earn interest? Will interest stay tax-free?
Despite the tax on the interest, EPF continues to have the highest returns among small saving schemes. So it makes sense to make small periodic withdrawals to ensure that the account does not become inoperative.
ITR filing: How to pre-validate your bank account
It is important to pre-validate the desired bank account of the taxpayer on the income tax ...
I have achieved my money goal but wish to diversify my portfolio and save more tax. How do I do that?
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How to calculate income tax online
Use this income tax calculator to know whether you will benefit by opting for the new tax regime or staying with the existing tax regime for the current financial year 2020-21.
How to calculate income tax for FY 2020-21
For FY 2020-21, an individual taxpayer has an option to choose between the old and the new tax regime. In order to know which tax regime is beneficial for an individual, it is important to know how much will be the tax liability in both the regimes.
New to the working world and tax-saving? Here's help
Many young earners are left confused as to what the tax-saving exercise entails. In this video, Shambhavi Mehrotra of ET Online sheds light ...
Income tax return forms notified: You can claim deductions till June 30
A new schedule (column) has been added in the I-T return forms to report investments made between April 1 up to June 30, 2020, for which deductions can be claimed in financial year 2019-20.
How to know which income tax slab you fall in?
As your income level increases, income at different levels will be taxed at different rates which are called the slab rates. To know how much is your tax liability in a financial year, it is important to know which income tax slab you fall in.
Self assessment tax liability for FY19-20 over Rs 1 lakh? Pay by July 31 to avoid penal interest
According to a press release issued by the Central Board of Direct Taxes on June 24, 2020, no extension has been granted to individuals having self-assessment tax liability of over Rs 1 lakh for FY 2019-20. Further, delayed tax-payment would attract penal interest.
Income tax return forms for FY 2020-21 notified
Taxpayers including individuals, Hindu undivided family, professionals and businesses, will be able to avail benefits of savings or investments made between April 1 and June 30, following the extension timelines provided by the finance ministry owing to Covid 19 pandemic.
Government further extends tax compliance deadlines. Check the new dates here
The extension will reduce hardship of taxpayers on one hand and will also give some more breathing time to tax officers, said experts, amid challenges faced in meeting the statutory and regulatory compliance requirements due to the outbreak of Covid-19.
How Sonia saved this government
Ever wondered what is resort politics and what goes on behind those high walls? A new book reveals the twists and turns that led to the formation of the MVA government in the state
How the old tax regime serves the double benefit of tax-saving and financial well-being
It is universally accepted that tax breaks on investments nudge people to save more. The new tax regime has taken away the incentive to save. The deductions ensure financial wellbeing of taxpayers. Do you know the role they plan in your financial plan?
How to access post office savings account online
There are two ways to access and download the statement of your post office savings account - Internet banking and mobile banking.
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