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Tax (Plan, Retirement)

A Voluntary Provident Fund (VPF) is a fixed-income option for employees to save money for retirement along with the Employees Provident Fund. : Is Contribution To Voluntary Provident Fund (VPF) Taxable?

Is Contribution To Voluntary Provident Fund (VPF) Taxable?

BY Outlook Money

The old tax regime, which is still in force and offers a host of deductions and exemptions, exempts income up to Rs 2.5 lakh from taxes. : What Senior Citizens Should Know About Tax Rules For FY2024-25

What Senior Citizens Should Know About Tax Rules For FY2024-25

Both sections 80CCC and 80C of the Income-tax Act, 1961, allow deductions from the annual income, but the limit cannot exceed Rs 1.5 lakh. : How Does Section 80CCC Differ From 80C Of Income Tax Act?

How Does Section 80CCC Differ From 80C Of Income Tax Act? Know The Deductions Available

BY Himani Verma

The Income-tax Act of 1961 offers tax benefits to senior and super senior citizens under certain conditions. Read on to learn more about them. : What Income Tax Benefits Do Senior Citizens Get?

What Income Tax Benefits Do Senior Citizens Get?

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Section 139 (8A) of the Income-tax Act, 1961, allows taxpayers to correct previously filed income tax returns (ITRs) to the Income Tax Department. : What Purpose Does Section 139 (8A) Of Income Tax Act Serve?

What Purpose Does Section 139 (8A) Of Income Tax Act Serve?

BY Outlook Money

The grandfathering rule applies to capital gains tax on assets bought before March 2018, when there was no LTCG. : What Is Grandfathering Rule In Capital Gains Tax?

What Is Grandfathering Rule In Capital Gains Tax?

BY Outlook Money

With the change in your income and expenses during the retirement period, it can be a good time to review which tax regime you should go with, the new or the old tax regime. : New Vs. Old Tax Regime, What Suits Best For A Retiree?

New Vs. Old Tax Regime, What Suits Best For A Retiree?

Tax-loss harvesting is a strategy to offset losses against capital gains and reduce tax liability. : Time For Tax-Loss Harvesting? Here’s How You Can Do It

Time For Tax-Loss Harvesting? Here’s How You Can Do It

BY Outlook Money

Sanchaya tax is a property tax levied in Kerala; one can pay the tax online before the extended deadline expires on March 31, 2024. : What Is A Sanchaya Tax? All You Need To Know

What Is A Sanchaya Tax? All You Need To Know

BY Outlook Money

Form 15G or 15H are self-declaration forms to submit to financial institutions where they have made investments to seek no tax deduction. : Forms 15G And 15H And How Is TDS Deducted In EPF %%sep%% %%sitename%%

What Are Forms 15G And 15H And How Is TDS Deducted In EPF? Things To Know

BY Outlook Money

The last day of the financial year is a deadline to fulfill personal finance things such as tax-saving investments, furnishing returns, etc. : Personal Finance Things You Must Not Forget %%sep%% %%sitename%%

Personal Finance Things You Must Not Forget Before The Financial Year Ends

Seniors require patience when they spend their lives after retirement. Seniors must avoid any last minute investing error to save tax. : Seniors Must Avoid 3 Things At The Last Minute To Save Taxes

3 Things Seniors Must Avoid When Investing At The Last Minute To Save Taxes

CBDT set the outstanding tax waiver limit at Rs 1 lakh after Financial Minister Nirmala Sitharaman announced relief in the interim budget. : CBDT Sets Outstanding Tax Waiver Limit At Rs 1 Lakh %%sep%%%%sitename%%

CBDT Sets Outstanding Tax Waiver Limit At Rs 1 Lakh, How To Check The Status?

Tax savings can be crucial for seniors when it comes to saving money and living a financially healthy life. Read More : Tax Savings As A Senior Citizen : 3 Instruments To Maximise Them

3 Instruments To Maximise Your Tax Savings As A Senior Citizen

Niti Aayog recommends viable interest rates for senior citizens, mandatory savings for elderly, and additional concessions for older women. : Mandatory Savings For Elderly : What More Says Niti Aayog

Housing Plan, Mandatory Savings For Elderly Alongside Tax Reforms: What More In Niti Aayog’s Recommendation

The parents are usually ready to pass on their legacies, like the property in which they live, paying property tax should lie on the child. : Paying Property Tax Lie Solely On Parents If Children Are Working?

Does The Onus Of Paying Property Tax Lie Solely On Parents If Children Are Working?

There are various income tax forms that taxpayers for different reasons. To avoid errors, seniors should choose the appropriate ITR form. : Important Income Tax Forms Seniors Should Know %%sep%% %%sitename%%

Important Income Tax Forms Seniors Should Know

Lets understand the Interim Budget 2024: How Does New Personal Tax Policy Apply To Senior Citizens and if any major changes in the tax policy : Interim Budget 2024: How Does New Personal Tax Policy Apply

Interim Budget 2024: How Does New Personal Tax Policy Apply On Senior Citizens?

BY Outlook Money

Interim Budget 2024: Finance Minister Nirmala Sitharaman Withdraws ‘Disputed Tax’ Liability Up To Rs 25K. Disputed cases are still pending. : Interim Budget 2024: Finance Minister Withdraws ‘Disputed Tax’

Interim Budget 2024: Finance Minister Nirmala Sitharaman Withdraws ‘Disputed Tax’ Liability Up To Rs 25K

BY Outlook Money

Interim Budget 2024: The Finance Minister Said About Personal Tax that the budget grants salaried individuals a tax relief of up to Rs 7 lakh. : Interim Budget 2024: Finance Minister Said About Personal Tax

Interim Budget 2024: What Finance Minister Nirmala Sitharaman Said About Personal Tax?

BY Outlook Money

Property tax is mandatory for every property owner; however, some relaxations are permitted for senior citizens. : Property Tax And Rebates For Seniors

Do Types Of Residential Houses Determine Property Tax? Are There Any Rebates For Seniors?

Tax Advantage Of Pension and annuity products and term life insurance plans incentivize taxpayers to save for retirement, Read More : Tax Advantage Of Pension, Annuity Plans In Retirement Planning

Budget FY2024-25: Know The Tax Advantage Of Pension, Annuity Plans In Retirement Planning

BY Outlook Money

People often confuse Tax Liabilities on the gold purchased from the market and inherited from the ancestor as the same, but that’s not true! : What Are Tax Liabilities On Ancestral Or Inherited Gold?

What Are Tax Liabilities On Ancestral Or Inherited Gold?

In the fiscal 2023-24 budget, the government announced a Leave Encashment At Retirement limit of up to Rs 25 lakh for income tax exemption. : Leave Encashment At Retirement : What Is Tax Exemption Limit?

Leave Encashment At Retirement: What Is The Tax Exemption Limit And How Is It Calculated?

BY Outlook Money

The Union government introduced several income tax announcements and changes in tax rules in the Budget 2023 that defined individual taxation : Income Tax Announcements Defined Individual Taxation In 2023

Yearender: Key Changes In Tax Rules That Defined Individual Taxation In 2023

BY Outlook Money

Taxation can seem complex if you don’t stay updated about its rules. seniors need To Pay Advance Tax Advance is a common question asked. : Do Seniors Need To Pay Advance Tax And How To Calculate It?

Do Seniors Need To Pay Advance Tax And How To Calculate It?

A lot of time people get questions on is retirement benefits taxed. Let us discuss the popular retirement benefits and how they are taxed. : Retirement Benefits. Taxed : Lets Know More About This Taxation

How Are Retirement Benefits Taxed?

Senior and super senior citizens get higher tax relief than ordinary taxpayers; learn more about the Senior Citizen Tax Slabs and benefits. : Senior Citizen Tax Slabs: How Does New Regime Differ From Old?

Senior Citizen Tax Slabs: How Do They Differ In Old And New Regimes?

BY Outlook Money

Senior citizens selling real estate, stocks, mutual funds, bonds, gold, etc., to generate income will recieve capital gains tax benefits. : Capital Gains Tax : How Can Senior Citizens Avoid It? %%sep%% %%sitename%%

How Can Senior Citizens Avoid Capital Gains Tax?

After retirement, the tax-saving strategy requires immediate review. What are the best tax-saving options left for seniors after EPF?

What Are The Best Tax-Saving Instruments For Senior Citizens?

Are you a senior citizen with an income below the taxable limit? Filing an income tax return (ITR) can offer several benefits; however, sometimes, not filing an ITR can cause trouble, too!

Should You File ITR Even If Your Income Is Not Taxable?

If seniors have Missed ITR Deadline Or Filed Unsuccessfully, need not worry, as they can still file a belated one by paying a penalty. : Missed ITR Deadline Or Filed Unsuccessfully? %%sep%% %%sitename%%

Missed ITR Deadline Or Filed Unsuccessfully? Here Is What You Can Do

BY Outlook Money

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