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Income tax rule: If you have shown it on accrual basis, you can start offering the interest income from NSC from second year onward on accrual basis and claim the 80C deduction, says Balwant Jain. (iStock)

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NSC interest declaration: What income tax rule says while ITR filing — explained

2 min read . 18 Apr 2023

In the income tax return, all sorts of properties are taxed under the head income from house property.

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Residential vs Commercial: Tips to optimize your property taxes in FY24

9 min read . 14 Apr 2023

ITR filing: Stock market investor cannot set off long-term capital losses against short-term capital gains whereas short-term capital losses can be set off against either short-term capital gains or long-term capital gains.

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How loss harvesting in IT stocks may help you contain income tax in FY24

7 min read . 14 Apr 2023

Tax savers should allocate their investments more wisely now that the new fiscal year, FY24, has already started in order to both fulfil their financial objectives and reduce their tax liability.

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How to optimise tax savings under the new tax regime in FY24?

7 min read . 09 Apr 2023

Individuals should be aware of the taxability of any retirement benefits they receive, including gratuity, commuted pensions, leave encashments, GPF, retirement plans, social security benefits, etc.

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Are retirement benefits taxable? How retired employees can file ITR in FY24?

12 min read . 08 Apr 2023

Income tax rule: As per the provisions of Section 64 of Income Tax Act, when an asset is gifted by one spouse to another, any income arising on such gifted property is required to be clubbed with the income of the spouse transferring such asset. (iStock)

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How income tax rule applies if husband buys plot in the name of his wife?

2 min read . 08 Apr 2023

In accordance with Section 80C of the Income Tax Act, NPS Tier 1 accounts are eligible for a deduction of up to ₹1.5 lakh from taxable income and an additional deduction of up to ₹50,000 under Section 80CCD (1B).

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How should you manage your NPS Tier 1 account under the new tax regime?

9 min read . 06 Apr 2023

Indian one hundred rupee and five hundred rupee currency notes. photo by Rajkumar on 9 April 2009 (100 and 500 Indian rupee notes)

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First thing to do in FY24: Escaping the TDS clutches

3 min read . 03 Apr 2023

Income tax calculator: From 1st April 2023, income from debt mutual fund investments would be considers short term capital gain taxable at income tax slab rates, say experts.

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Income tax calculator: Changes in income tax slab FY 2023-24 that you must know

2 min read . 03 Apr 2023

In FY24, new income tax slab will become by default tax slab for an earning individual.

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Income tax rule: Proceeds from life insurance policy to be taxable from today?

1 min read . 01 Apr 2023

INCOME TAX RETURNS

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