Income Tax

PAN Card Holder Alert! Your PAN may become invalid unless you do this by March 31

The Income Tax Department is constantly reminding individuals to complete this task by March 31, 2019.
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10 tax saving investment mistakes which may cost you dearly

With the March 31 deadline approaching fast, it's time to take the final decision on where and how much to invest to maximise returns along with saving taxes.

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Deadline for these 8 tax tasks ends on March 31: Have you missed any one of them?

There are some tax tasks which need to be finished by every taxpayer within their respective deadlines. That is because not finishing these tasks on time can prove costly for them.

Income Tax News

SBI Tax Savings Scheme: 7 things you may not have known till now

To invest in SBI Tax Savings Scheme, one may either visit the bank branch where one holds an account or can even open it online through net banking.

Income Tax News

Income Tax Saving: 5 tax saving mistakes millennials must avoid

Considering we are only left with a few days to go for the tax season to come to an end, here is a list of mistakes one must avoid to ensure effective tax planning.

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How to open NPS account online to invest and avail Rs 50,000 additional tax deduction before March 31

As the contributions made to NPS invested in company stocks, government bonds and money market instruments, the value of retirement corpus would depend on the returns that the investments generate ove

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Top 6 tax saving options for risk averse investors

Investors who have a relatively low-risk appetite may not want to expose their savings to volatility. Let’s look at some investment options that are low risk and fetch assured return.

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Advance tax payment last day today; here’s how much you have to pay and how to make payment

As we approach the end of the financial year, there are a few things we need to strike off our checklist. An important one, which most of us often overlook, is the Advance Tax payment which is due on

Income Tax News

Tax Saving: How investing in ULIPs can help you save taxes

ULIP is a perfect combination of best returns, guaranteed protection, and maximum tax savings. One of its unique attributes is that it gives the investors the prerogative of investing the premium in a

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Last minute tax saving tips: 5 best ways to invest and save tax at the last minute

Considering there are only a few days to go by before the tax season comes to an end, taxpayers will have to handpick some quick and smart options to reduce their tax outgo.

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Income tax slab for senior citizens AY 2019-20: Find out the tax slabs, tax rates

Different tax rates have been prescribed for different income tax slabs and the tax rates keep increasing with an increase in the income slab.

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Are you in the highest tax slab? This is how much tax one can save under section 80C in different tax slabs

The amount invested under section 80C qualifies for a deduction i.e. the gross total income of the taxpayer gets reduced by an equal amount and thus results in tax saving.

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Time running out to save TDS: Documents to be submitted to reduce tax outgo from your salary

March is the last month of the financial year and hence it's last chance for employees to submit the documents to save the tax outgo in form of TDS.

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Are medical reimbursements eligible for tax deductions? See the changes made in income tax rules

While Medical Reimbursement on any disease was tax free up to Rs 15,000 u/s 17(2) of the Income Tax Act till last year, Medical Allowance was fully taxable.

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Is ELSS the best 80C investment option for tax saving? Find out

Amongst the various tax-saving options like PPF and Ulip, Equity Linked Savings Scheme (ELSS) has gained popularity over the years owing to a range of benefits that it offers over other alternatives.

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Tax saving under Section 80C? Check out these 7 tax savers before making fresh investments

In case you haven’t completed tax saving for this FY and still searching for the tax-saving investments, have a close look at your existing commitments and certain specified expenses made during the

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Income Tax Saving: Your parents, children and spouse can also help you save tax; Here’s how

If you have exhausted all options in your personal capacity, then your parents, children and spouse can help you reduce your tax liability.

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Little known income tax deductions which will help you save more tax

Some deductions available under the Income-Tax Act which are little known. Instead of blindly rushing into new investments, it may be a good idea to be aware of some of them.

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Link your PAN with bank for refunds: Income Tax Department to taxpayers

The Income Tax Department will "only" issue refunds via the e-mode into bank accounts of taxpayers beginning next month and they should link PAN with their accounts, the taxman said in its latest publ

Link your PAN with bank for refunds: Income Tax Department to taxpayers News

Your money: Six steps for tax planning after your retirement

If you plan to retire at 60 and supposing you survive till say 80 years, you need to accumulate a corpus of around 3.45 crores.

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Senior citizens with business income to deposit advance tax by July 31

Last date of advance tax liability for senior citizen is March 15, 2019 for FY 2018-19.

Income Tax News

Black Money Act: Report all foreign assets in tax returns

Recently, the action of the tax authorities was challenged in a writ petition before the Calcutta High Court in the case of Shrivardhan Mohta Vs Union of India.

Income Tax News

Reality check! Stellar growth in income tax e-returns, but not in the taxpayer base

The growth trajectory in direct tax collection closely resembles the growth in effective taxpayer base, rather than the number of returns.

Income Tax News

Investment deadline approaching: Do not buy life insurance just to save income tax

Tax exemptions are only incentives given to encourage people to buy life insurance in the absence of a comprehensive social security system

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