The Department of Posts, which is part of the Ministry of Communication, has been providing banking and remittance services to Indian citizens through the network of post offices set up across the country. The post office saving schemes are one of the most sought-after services among the banking and remittance services offered by these post […]
The Finance Act, 2017 introduced section 194-IB making deduction of TDS mandatory for tenants who are paying a rent of more than Rs. 50,000 per month. Introduction Up to the financial year 2016-17, only those individuals or HUFs (Hindu Undivided family) who were covered under the purview of Section 44AB, were liable to deduct the […]
In one of the recent updates to the compliance portal of the Income-tax department, assesses can now access the Annual Information Statement (AIS). An AIS is a comprehensive statement of financial transactions made by a taxpayer in a financial year. The AIS is meant to make the return filing process easier for taxpayers. However, many […]
The Indian government has proposed a new tax system for cryptocurrency investors, requiring them to pay a 30% tax on their cryptocurrency gains. One of the biggest announcements in the Budget 2022 speech of the Finance Minister, Nirmala Sitharaman, was to impose a tax at the rate of 30% on the profits made from virtual […]
Are you looking to save tax on your capital gain income but do not want to block your money by investing in a new house? Then you’ve come to the right place because we’ll be explaining “How Can a Person Save Taxes on Capital Gains by Investing in Bonds” in this article. If a […]
Are you looking to invest in a stock that offers regular income? Dividend stocks can be a great option for you to invest in. Dividend stocks are shares of the company which distribute part of its earnings to its shareholders on a periodic basis. Generally, stocks that pay dividend are considered to be of well-established […]
As per the provisions of Section 194A of the Income Tax Act, a bank is responsible for deducting TDS on the interest paid on the deposits of a customer if the total interest paid or credited exceeds the threshold limit of Rs. 40,000 (or, Rs. 50,000 for senior citizens) during a financial year. However, if […]
Life Insurance Corporation (LIC) of India has urged the policyholders to link their Permanent Account Number (PAN) with insurance policies. Customers can complete the formality through the official website of the company from the comfort of their homes. The central government has extended the deadline to link the PAN with insurance policies till 31st March […]
The real estate sector has always been a non-transparent sector when it comes to land records and title of the property, primarily due to the involvement of black money. Also, it is quite easy for fraudsters to fabricate land documents and sell that property to an innocent buyer. Considering all these fraudulent practices prevalent in […]
Every now and then, the Government of India keeps on introducing new investment schemes for its citizens. Some of the popular schemes are Public Provident Fund (PPF), National Saving Certificate (NSC), Sukanya Samriddhi Yojana (SSY), Kisan Vikash Patra (KVP), etc. Most of these schemes are popular among senior citizens as they carry minimal risk and […]
