15G is a mandatory form and EPF subscribers must fill them to avoid paying the TDS if they are withdrawing over ₹50,000. FD depositors are also meant to fill this form to avoid paying TDS when their interest income is less than ₹40,000
2 min read17 Apr 2024Income tax benefits for home loans include deductions under Section 80C for principal repayment up to ₹1.50 lakh and under Section 24(b) for interest paid
4 min read16 Apr 2024For incomes up to ₹7.5 lakh, the new tax regime is the clear choice, offering a rebate after ₹50,000 deduction.
6 min read16 Apr 2024In March 2024, India and Mauritius signed an amendment to the double taxation avoidance agreement. The clarification comes after there were concerns that foreign portfolio funds routing through the island nation to India would face increased scrutiny by tax authorities.
2 min read13 Apr 2024Last month, the income tax department said refunds amount to over ₹3.36-lakh crore issued in the FY24 till March 17 against the refunds amounting to ₹2.98-lakh crore during the same period in fiscal 2023
2 min read12 Apr 2024Discover these lesser-known tax-saving tips beyond Section 80C investments, including Section 80GG for rent, Section 80D for medical insurance, and Section 80CCD(1B) for NPS contributions.
1 min read10 Apr 2024Explore lesser known tax saving tips beyond Section 80C investments like PPF and ELSS, such as Section 80GG for rent expenses, Section 80D for medical insurance premiums, and Section 80CCD(1B) for NPS contributions.
4 min read9 Apr 2024Income Tax department releases e-filing versions of ITR-1, ITR-2, and ITR-4 for FY 2023-24. Deadline for filing ITRs is July 31, 2024. Online and offline tools available for filing returns. Various ITR forms cater to different taxpayers' needs and situations.
5 min read4 Apr 2024Income tax slabs FY 2024-25: With the new financial year starting, salaried individuals must decide between old and new tax regimes. The default option is now the new regime, with different rates and deductions
2 min read7 Apr 2024Finance Ministry clarifies no new tax changes from April 1, 2024. Taxpayers can opt for old or new regime based on preferences
2 min read3 Apr 2024The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared