All stories by Bindisha Sarang
Missed Tax Return Deadline? What To Do
Rediff.com1 days agoSubmitting a late return helps you stay compliant with tax regulations and avoid legal issues.
What To Do If You Get I-T Notice
Rediff.com2 days ago'File all the supporting documents in response to the allegation since there is a possibility of the proceedings getting dropped at that stage if the reply is satisfactory.'
Filing Revised I-T Return? Read This
Rediff.com7 days agoA taxpayer who does not revise their return within the stipulated deadline would be stuck with the original return, including its errors.
Last Minute Tips For Error Free ITR
Rediff.com31 Jul 2024It is advisable to file your ITR right away and not rely on potential extensions.
How You Can Save Rs 17,500 In New Tax Regime
Rediff.com24 Jul 2024'The adjustments (of tax slabs and standard deduction) will reduce the tax burden for salaried individuals with an income of around Rs 20 lakh by approximately Rs 18,000.' 'For non-salaried individuals with the same income level, the savings will be around Rs 10,000.'
Know the Budget Impact on Your Finances
Rediff.com23 Jul 2024'Compare the new slabs with the previous years to understand if your tax liability will increase or decrease after the Budget.'
Which Is Best? New Or Old Tax Regime?
Rediff.com18 Jul 2024'If an individual makes significant financial investments, she should stick to the old regime.' 'If the individual prefers straightforward computation without any tax benefits, the new regime would be suitable.'
Why You Must Review Mid-Year Finances
Rediff.com9 Jul 2024'A mid-year review makes the end-of-year financial review manageable and less stressful.'
Losses? Filing Nil ITR Is A Must
Rediff.com26 Jun 2024'Filing a nil ITR serves as a formal declaration to the tax authorities that your earnings fell below the taxable threshold in the given financial year, and you had no tax liability during that period.'
Can You Inherit Taxes?
Rediff.com25 Jun 2024Not filing an ITR or paying the tax dues on the deceased's behalf can lead to penal consequences.
How Senior Citizens Can File ITRs
Rediff.com12 Jun 2024Many seniors mistakenly believe they need not file returns if tax is deducted at source (TDS) on income received. This is incorrect.
Why Form 16 Is Important For ITR
Rediff.com11 Jun 2024Form 16 contains details of salary income, deductions, and exemptions.
What You Must Know About Your Gratuity
Rediff.com3 Jun 2024If gratuity is not paid within 30 days of termination, the employer must pay interest as set by the central government.
What Is Form 26AS?
Rediff.com31 May 2024Discrepancies between Form 26AS and Form 16 can lead to an inquiry by the I-T department.
How To Avoid TDS?
Rediff.com14 May 2024'Tax is not required to be deducted from specified payments if a recipient files a self-declaration with the deductor for no deduction of tax.'
Safeguard Streedhan. Read To Know More
Rediff.com13 May 2024Streedhan refers to gifts, money or property that a woman receives before her marriage, at the time of her marriage, during childbirth or widowhood, primarily from her parents, relatives or in-laws.
File tax return in mid-June, once all necessary info is available
Rediff.com7 May 2024Taxpayers are filing their income tax returns (ITRs) early for the Assessment Year 2024-25 (FY25). By April 29, over 592,000 returns were filed, with over 538,000 verified and 367,000 processed. Early filing allows revisions without penalties.
'Invest 10-15% Of Your Portfolio In Gold'
Rediff.com1 May 2024Gold is an excellent asset class for diversification and should be included in all long-term portfolios.
Selling Jewellery? You Can Save Capital Gains Tax
Rediff.com30 Apr 2024Taxpayers seeking to save tax from the sale of gold (including inherited) should reinvest the capital gains in residential property to avail of the benefit provided by Section 54F.
Old Vs New Tax Regime: Which Saves You More Money?
Rediff.com23 Apr 2024The choice of tax regime dictates how your income will be taxed. If you don't make the right pick, you might end up losing money.