Home loan borrowers should note all income tax breaks offered on home loans because doing so can help you significantly lower your tax liabilities.

The last date for completing tax saving is approaching soon. If you still have not completed the tax saving exercise, then ensure that you do it before the end of the financial year, or else you might end up paying higher income tax. Here are five investment options that help you not only save income tax but also offer tax free returns.

Sudhir Kaushik of Taxspanner.com tells readers how they can optimise their tax by rejigging their income and investments.

Tax-saving FDs are safer investments than equity-based tax savings choices like ELSS plans because they are debt-based. The returns on a tax-saving FD are also fixed for the length of the FD and are guaranteed by the lender.

If you are buying a foreign tour package from a travel agent, you have to pay a tax collection at source (TCS) of 20% from July 1, 2023. Budget 2023 has hiked the TCS rate for foreign remittances under the LRS from 5% to 20% (except for education and medical purposes). With this sharp rise in TCS, foreign trips are likely to become costlier soon.

If a taxpayer notices errors in the financial transactions listed on their Annual Information Statement, they can raise issue. The tax department will contact the source once you express the concern.

The Income Tax Department had introduced the e-Verification Scheme, 2021, which was launched on December 13, 2021, to encourage voluntary tax compliance and enable transparent and non-intrusive tax administration.

Sudhir Kaushik of Taxspanner.com tells readers how they can optimise their tax by rejigging their income and investments.

F&O gains and losses must be reported in your tax return. Here is a look at how these will be taxed and what taxpayers need to do.