The common perception is that individuals earning up to Rs 15 lakh annually cannot completely save on taxes. However, if planned wisely, one can pay zero tax even with a yearly income of Rs 15 lakh. In this article, we look at how to achieve that. Firstly, by utilising the basic exemption limit offered by … Read more
It is the start of the new financial year from April 1. Since last year, it is mandatory to choose the appropriate tax regime that suits a particular investor. Most taxpayers, especially those with high income or those having several tax-saving investments, prefer the Old Tax Regime. Should you have chosen to adhere to the … Read more
It is that time of the year when you will be asked to submit investment proof so that your workplace can deduct tax before the end of the fiscal on March 31, 2024. On one hand, the Income Tax department deducts tax, but at the same time, it promotes savings and investments among taxpayers. It … Read more
The Centre on Friday hiked the interest rates of some of the small savings schemes, such as Sukanya Samriddhi Scheme, 3-year Time Deposit, for the January-March 2024 quarter. In a notification, the Union finance ministry said that the interest rates of most schemes were at the same level, with minor tweaks for the Sukanya Samriddhi … Read more
Income Tax 2024 for senior citizens: When talking about investment options for senior citizens, the first thing that comes to your mind is safe investment schemes with zero risks. There are many government-backed schemes that offer decent returns to senior and super-senior citizens. Some of the prominent ones are Senior Citizens Savings Scheme, National Pension … Read more
MPs of like-minded opposition parties wearing black as a mark of protest, during a meeting at Leader of Opposition Mallikarjun Kharge’s chamber in Parliament House during Budget Session, in New Delhi, on March 27, 2023. | Photo Credit: PTI Nashville school shooting | 3 children among 6 dead; suspect had drawn maps, done surveillance The … Read more
SSS must turn viable over time, with less government intervention in fund use and gradually linking returns to markets. Synopsis The action to sharply cut interest returns on State-backed small savings schemes (SSS), and a quick correction to reverse it — in what would go down as the fastest rollback of a fairly important government … Read more