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Tax (Plan, Retirement)

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

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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

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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?

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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?

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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

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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?

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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

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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?

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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

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Pension is considered as an income and is taxed the same way as salary. The filing of ITR for pension is also similar to that of salary income : ITR Filing: How To File ITR For Pension Income

ITR Filing: How To File ITR For Pension Income

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Section 80D of the Income-tax Act, 1961 allows for tax deduction for senior citizens on medical expenses, whether the expenses were incurred by themselves or their children : Section 80D: How Can Senior Citizens Claim Deductions

Section 80D: How Can Senior Citizens Claim Deduction On Medical Expenditure

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Systematic Transfer Plans (STPs) in mutual funds allow the transfer of funds from one scheme to another within the same fund house. : Systematic Transfer Plan (STP) In MF: How It Works And Taxed

Systematic Transfer Plan (STP) In Mutual Funds: Know How It Works And Taxed

There are different types of income tax return (ITR) forms, each with a specific purpose. : Which ITR Form Should You File?

Which ITR Form Should You File? Know The Types Of Forms And Their Purposes

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Verifying your tax return is as important as filing your Income Tax Return (ITR), failing which can attract penalties. Learn more. : ITR Filing: Verify Your Tax Return Within 30 Days To Avoid Penalty

ITR Filing: Verify Your Tax Return Within 30 Days To Avoid Penalty—Know More

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You can track your income tax refund status on the income tax departments e-filing portal. : Income Tax Refund FY2023-24: Here’s How To Check The Status

Income Tax Refund FY2023-24: Here’s A Step-by-Step Guide To Check The Status

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The sale proceeds from a capital asset can be stored in a capital gain savings account if not reinvested immediately to save tax. Learn more : What Is Capital Gain Account Scheme And When Will You Need It?

What Is Capital Gain Account Scheme And When Will You Need It? All You Need To Know

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Maintain records of home construction/ improvement bills as proof to claim appropriate deduction or reduce the burden of capital gain tax. : Capital Gain Tax: Here’s How To Reduce Liability Of Property Sale

Capital Gain Tax: Here’s How To Reduce Liability From Sale Of Property And Other Assets

Section 80TTB benefit can be availed of only if the senior citizen chooses the old tax regime and meets the eligibility criteria, such as age and residency status. : ITR Filing: Section 80TTB, And Its Benefit For Senior Citizens?

ITR Filing: What Is Section 80TTB, And How Does It Benefit Senior Citizens?

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The income tax (I-T) department has put in place certain safeguards, including monitoring of high-value transactions, to combat the menace of tax evasion and money laundering. : 5 High-Value Transactions That May Attract IT Department Scrutiny

Income Tax Notice: 5 High-Value Transactions That Could Attract Scrutiny, And Here’s What You Can Do

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Non-government employees will have to pay tax on 50 per cent of the lump sum amount drawn at retirement. Read About tax on retirement benefits : ITR Filing: How Are Retirement Benefits Taxed? Read these 4 rules

ITR Filing: How Are Retirement Benefits Taxed? 4 Rules That You Should Know

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Equity investment is one of the most tax-efficient instruments, but they are also liable for taxes depending on factors such as the type and the size of capital gain tax. : How Can You Save Capital Gain Tax On Your Equity Investments?

ITR Filing: How Can You Save Capital Gain Tax On Your Equity Investments?

Senior citizens aged above 60 and below 80 can avail of the benefits under Section 87(A) of the Income Tax Act in the old and new tax regimes. : ITR Filing: Are Senior Citizens Eligible For Section 87(A) Rebate?

ITR Filing: Are Senior Citizens Eligible For Tax Rebate Under Section 87(A)?

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One has to file an income tax return in case of a tax liability, but in some cases, it is mandatory to file one. Read More About ITR Filing. : ITR Filing: When It’s Mandatory, Not Just Important, To File An ITR

ITR Filing: When It’s Mandatory, Not Just Important, To File An ITR

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With Budget 2024 round the corner, seniors have a wishlist for some concession from Union Minister of Finance Nirmala Sitharaman. : Budget 2024: 4 Wishlist Of Senior Citizens in Various Aspects

Budget 2024: From Increased Exemption In Mediclaim To Tax-Free Annuities In NPS—4 Items On Seniors’ Wish List

BY Himani Verma

Filing income tax returns (ITR) is crucial even if there is no tax liability. Here’s how to your ITR in 10 easy steps online. : Filing ITR: 10 Simple Steps To Pay Taxes

Filing ITR: Here Are 10 Simple Steps To Pay Tax Online

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