The government has changed the taxation of debt mutual funds from April 1, 2023. The government has taken away the indexation benefit available on the debt mutual funds. The indexation benefit was available in case of long-term capital gains. However, the debt mutual funds are still offering certain tax benefits over bank fixed deposits. Read on to know more.
Income tax rules have made quoting of PAN number mandatory for certain transactions. These include opening of bank account, demat account, FD deposit, depositing cash above the specified threshold.
The income tax department has enabled ITR forms 1 and 4 on the e-filing website. The forms have been enabled almost one month after the tax department released the excel utility of the forms. The last date for filing income tax return for FY 2022-23 (AY 2023-24) is July 31, 2023 unless the date is extended by the government.
Sudhir Kaushik of Taxspanner.com tells readers how they can optimise their tax by rejigging their income and investments.
The Central Board of Direct Taxes (CBDT) has clarified by a way of notification that TDS under Section 194A will be applicable on the interest earned from Mahila Samman Savings Scheme. However, the TDS will be applicable only if the interest earned from the scheme exceeds the specified threshold. Read on to know this threshold.
If you want to file your ITR now, you must first download the tool from the income tax e-filing website. After filling out the utility form with income and deduction information, it must be uploaded to the income tax e-filing portal.
One of the primary reasons for creating an HUF is to save tax. Here are some points to keep in mind while doing so.
Section 80G of the Income Tax Act allows a deduction on the monetary donation made to the specified charitable institutions. The rules of claiming Section 80G deduction while filing income tax return have been made stricter in recent years. Here is all you need to know about claiming Section 80G deduction while filing ITR this year.
Sudhir Kaushik of Taxspanner.com tells readers how they can optimise their tax by rejigging their income and investments.