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Tax (Plan, Retirement)

The government has introduced 3 changes in the GST return filing rules, effective September 2024. : 3 Major Changes In GST Return Filing Rules You Shouldn’t Miss

3 Changes In GST Return Filing Rules From Sep 1 You Shouldn’t Miss

BY Priyanka Debnath

During the sunset phase of your life, you need not lose out on money. Here are suggestions that could help you overcome any such issue : How Senior Citizens Can Reduce Tax On Their Pension Income

How Senior Citizens Can Reduce Tax On Their Pension Income

BY Meghna Maiti

Capital Gains Account Scheme simplifies managing and deferring your capital gains tax through designated deposits. : Capital Gains Account Scheme (CGAS): How Does It Work?

Capital Gains Account Scheme (CGAS): How Does It Work And When Is It Used?

BY Outlook Money

The review may also attempt to balance the new and old tax regimes and potentially aim for a unified tax regime for individual taxpayers. Tax Laws. : Direct Tax Laws To Be Simplified: Here Are Key Things To Know

Direct Tax Laws To Be Simplified: Here Are Key Things To Know

BY Meghna Maiti

Investors who frequently trades in stocks should use this method to get details of tax liabilities for ITR. Short-Term Capital Gains. : How To Track Short-Term Capital Gain, Intraday Income

How To Track Short-Term Capital Gain, Intraday Income For Tax Purposes

BY Outlook Money

CBDT Chairman Ravi Agrawal assured that the task of reviewing and ITA 1961 releasing a new Income Tax Act in the given timeframe. : FM Calls For Simplified Tax Law, Announces New Income Tax Act

FM Calls For Simplifying Tax Law, Says India May See New Income Tax Act In 6 Months

BY Outlook Money

In India, pension forms a part of the income. But, the tax application varies based on the type of pension you receive. pensioners TDS Burden : When Can Pensioners Avoid The TDS Burden?

When Can Pensioners Avoid The TDS Burden? What You Need To Know

BY Outlook Money

Senior citizens can’t afford to make big changes in their retirement investments as it may result in undesired outcomes. Capital Gain Tax. : Change In Rules On Capital Gain Tax, Where Should You Invest?

Change In Rules On Capital Gain Tax, Where Should Seniors Invest Now?

The income tax department processes a tax refund claim after the taxpayer e-verifies the ITR. Depending on the cases complexity, Read More. : How To Claim Tax Refund If You Have Missed The ITR Deadline

How To Claim Tax Refund If You Have Missed The July 31 ITR Deadline

BY Outlook Money

An income tax clearance certificate (ITCC) is issued by the state revenue department to certify that the individual has cleared the tax dues. : Tax Clearance Certificate: Mandatory For NRIs Leaving Country

Tax Clearance Certificate Is Mandatory For NRIs Leaving Country From Oct 1: Learn More

BY Outlook Money

If you have received an income tax notice, carefully read the reasons for the notification, and respond appropriately. : Received An Income Tax Notice After Filing Your ITR? What To Do

Received An Income Tax Notice After Filing Your ITR? Here’s What You Should Do

BY Outlook Money

The tax incidence of Long-Term Capital Gain (LTCG) depends on property’s capital appreciation and its acquisition cost. : Indexation On LTCG Available For Properties Bought Before July 23, 2024

Indexation Benefit Is Available For Properties Bought Before July 23, 2024: Learn How It Reduces Tax Liability On LTCG

Union Finance Minister announced removing indexation benefit from LTCG in Budget 2024-25, which has generated concerns in certain quarters. : Govt Exploring Options For Indexation Benefit In Real Estate

Is Govt Exploring ‘Grandfathering Rule’ To Ease Short-Term Pain Due To Indexation Benefit Removal?

BY Outlook Money

Amid high premiums on health insurance, GST Removal On Life, Medical Insurance could prove to be a boon and a lifesaver for seniors : How Will GST Removal On Life, Medical Insurance Benefit Seniors

Removal of GST On Life, Medical Insurance: How This Will Benefits Senior Citizens

BY Outlook Money

Today is the last date of filing ITR for AY24-25. A delay could attract a penalty. One should also match AIS information while filing ITR. : ITR Last Date: Match Details With AIS, File Today To Avoid Penalty

ITR Filing Last Date: Match Details With AIS, File ITR Today To Avoid Penalty

BY Outlook Money

Section 80D of the Income Tax Act offers deductions for health insurance premiums and medical expenses incurred on senior citizens. : Deductions on medical costs for seniors under 80D Explained

ITR Filing: Deductions On Medical Expenses For Senior Parents Under Section 80D Explained

BY Anuradha Mishra

Section 80 CCD is related to tax deductions for NPS and APY subscribers. Read about the allowed tax deduction under 80CCD (1&2). : Section 80CCD: How Much Deduction Does It Allow

Section 80CCD: How Much Deduction Does It Allow For NPS And APY Subscribers

BY Outlook Money

The change in the rental income tax law brings clarity to prevent its misrepresentation, which was inadvertently not taxed. : How Does Budget 24 Aim To Plug Loophole In Rental Income Tax?

How Does Budget 2024 Aim To Plug Loophole In House Rental Tax? Does It Impact Seniors’ Cash Flow?

In Budget 2024, the government announced that it would take away the indexation benefit like calculating the LTCG tax : With Indexation On LTCG Gone, Should Beneficiaries Be Worried?

With Indexation On LTCG Gone, Should Your Beneficiaries Be Worried?

According to income tax rules, Form 10-IEA can only be filled twice in a lifetime: once to opt out and once to opt in. : Form 10 IEA: When You Need It And How To Fill The Form

ITR Filing: When Do You Need To File Form 10-IEA? Know Steps To Fill The Form

BY Outlook Money

ITR-Filing: Some four crore people filed income tax returns (ITR) as of July 22, 2024. : ITR Filing: I-T Dept In The Process Of Simplifying Tax Rules

ITR Filing: I-T Dept In The Process Of Simplifying Tax Rules—What You Should Know

BY Outlook Money

In the Union Budget 2024-25, the government increased the capital gains tax on both short- and long-term gains. Here’s what experts say. : How Will The Hike In Capital Gains Tax Impact SIP Investors?

Budget 2024: How Will The Hike In Capital Gain Tax Impact SIP Investors?

BY Himani Verma

The Income Tax Act exempts special allowance for salaried individuals under section 10 (14). : What Are Special Allowances? How Much Exemption is allowed.

ITR Filing 2024: What Are Special Allowances? How Much Exemption Can You Claim?

BY Outlook Money

Section 80TTB was introduced in the Income Tax Act to provide tax relief to senior citizens. : What Deductions Does Section 80TTB Provide For Seniors?

ITR Filing 2024: What Deductions Does Section 80TTB Provide For Senior Citizens?

BY Outlook Money

Taxpayers will need to submit a condonation request to the income tax department for pardon if they delay e-verifying their income tax return (ITR). Here’s how to submit a condonation request. : How To Submit A Condonation Request For Delayed In Tax Returns

ITR Filing 2024: How To Submit A Condonation Request For Delay In E-Verifying Returns

BY Outlook Money

Section 80U of the Income Tax Act of 1961 allows differently-abled people to claim tax deductions based on the severity of their disabilities and medical proof. : Tax Deductions For Differently Abled Available Under Section 80U?

ITR Filing 2024: How Much Deduction Can Differently Abled People Avail Under Section 80U?

BY Outlook Money

The deadline of filing an income tax return (ITR) is July 31; file your ITR returns on time to avoid last-minute technical glitches on the e-portal site. : File Returns On Time To Avoid Last-Minute Glitches: Read More

ITR Filing 2024: File Returns On Time To Avoid Last-Minute Glitches—5 Issues You Could Face And How To Solve Them

BY Outlook Money

Lower GST rates and additional deductions on life, annuity, and health insurance products are some expectations the industry believes will enhance insurance penetration in the country. : Budget 2024: Insurers seek Lower GST Rates, LTCG on Insurance

Budget 2024: From Lower GST Rates To LTCG On High-Value Insurance Plans, Insurers’ Wish List For FM Sitharaman

Section 80EE of the Income Tax Act allows deductions on the interest paid on a home loan. Read more about the deductions. : Tax Deduction Provided By Section 80EE On Home Loan Interest

ITR Filing 2024: How Much Deduction Does Section 80EE Provide On Home Loan Interest?

BY Outlook Money

The income tax rules provide additional tax benefits to senior citizens aged 60 and above on the total income in a financial year. : ITR Filing 2024: 7 Things Seniors Should Know about Tax Liability

ITR Filing 2024: 7 Things Senior Citizens Should Know When Calculating Tax Liability

BY Outlook Money

From additional tax rebates to promoting group pension plans for MSMEs, here are some key expectations to boost people’s savings and retirement planning.

Budget 2024: Key Expectations From FM Sitharaman To Boost Retirement Planning

BY Anuradha Mishra

Salaried taxpayers are expecting higher tax exemptions as well as better HRA regulations in Budget 2024. Read More. : Budget 2024: Taxpayers Want Increased 80C Limits and More

Budget 2024: Taxpayers Want Increased 80C Limits, Home Loan Exemption From Finance Ministry

BY Outlook Money

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