Did you forget to pay TDS on the purchase of your property? Oh, no! Here’s some news you may not like. You might receive a tax notice and be asked to shell out as much as Rs. 1 lakh as a penalty. Let’s tell you all about how to remedy the situation.
This is your one-stop guide to understanding the National Pension System and Public Provident Fund. We’ll help you compare the features of both these investment options and make it easier for you to choose the best one that is suitable for you. Okay?
If you have ever faced a tax-related problem, you would have had to go through the cumbersome grievance redressal mechanism of the Income Tax Department. Thankfully, there is good news for tax payers with the introduction of a Central Paperless Solution for all your Income Tax grievances.
Now you can withdraw from your Provident Fund without any Tax Deducted at Source. This is for withdrawals up to Rs. 50,000. Read all about it on the BankBazaar blog.
Are you looking to claim a rebate on Leave Travel Allowance (LTA) and House Rent Allowance (HRA)? Do you want to claim a deduction on the interest paid on your Home Loan? The Income Tax Department has made it easier for you to declare your LTA and HRA deductions.
According to recent data released by the Income Tax Department, hardly 1% of the population in India pay their taxes. More than 5,000 individuals paid taxes of over Rs.1 crore. Most people seem to earn between Rs. 5.5 lakh and Rs. 9.5 lakh. Hooked? We have more astonishing stats!
Looking for the best option to save on tax and create long-term wealth? ELSS funds could be the answer. Here is our list of the Top 5 ELSS Funds you could invest in this year.
In India, Employee Provident Fund (EPF), commonly known as PF, is one of the best TAX-FREE debt investments for retirement. Learn more about PFs from the expert – Mimi Parthasarathy, Managing Director, Sinhasi Consultants Pvt Ltd.
Let’s assume you took the plunge to get your home and took a Home Loan two summers ago. You’ve started repaying the loan EMIs but you have a sudden financial emergency and you’re going to be strapped for funds for the next few months. Would you take a Personal Loan, or a Top-up Loan on your Home Loan to help you through the crisis?
While a Savings Account and term deposits can provide reasonable interest on investment, nothing can be compared to the high value of returns coupled with tax benefits offered by Mutual Funds. Read on to know more.