After collecting all the related documents and information related to income tax return (ITR) filing, the next step is to ascertain one’s gross total income before claiming tax-saving deductions, and thereby the tax liability. As per income tax laws, gross total income is divided into five parts: income from salary, income from house property, income from capital gains, income […]Continue Reading..
The Employee Provident Fund (EPF) is an excellent tool for salaried to accumulate funds for their retirement. Income tax has implications at the time of contributions, interest earned as well as withdrawal of balance. Let us discuss the income tax implications of EPF contributions and withdrawals. Contribution stage The employer deducts you EPF contribution @ […]Continue Reading..
The Covid-19 pandemic has brought a lot of changes with it and has put a stop to a ton of things with cross-country lock-down influencing most organizations and people. The dates for filing Income Tax Returns have likewise been stretched out to bear down on individuals. The standard date for filing the ITR for the fiscal year of 2019-20 would have been July 31, 2020. Nonetheless, the Indian government has […]Continue Reading..
National Pension Scheme or NPS is a retirement scheme and PFRDA which is the pension fund regulatory body has been gearing up to provide ease to its members. And lately in the wake of the Covid 19 pandemic, the online onboarding has been allowed through video-based customer identification process. 1. Video-based Customer Identification Process (VCIP) for […]Continue Reading..
My uncle is senior citizen. He gets his income from bank interest, shares and mutual fund dividend and profits. He has to file his income tax return for financial year 1st April 2019 to 31 March 2020. I am confused. Which is the last date for filing return for him. Is it 31 Dec 2020 or 31 […]Continue Reading..
Kisan Credit Card is issued to the beneficiaries of Pradhan Mantri Kisan Yojana where farmers can get easy loan upto 1.60 lakh with zero guarantee. Farmers can easily apply for this card by visiting the nearest bank. Apart from the government banks, private banks can also issue this Important card to farmers. While making the […]Continue Reading..
Now two thousand notes will not be available from ATM. The two thousand notes from the Reserve Bank are currently closed. Banks have also started removing caliber of 2,000 notes from ATM machine. The Central Bank of India has started this. The Central Bank has removed the caliber from its 58 ATM machine. Other banks also say that now only […]Continue Reading..
With the new financial year (FY) underway, it’s time to do the necessary planning to manage income and investments. An important task on this list is to evaluate your expected total income for this financial year, FY17. If you expect it to remain above the taxable limit, you should invest in tax-saving products according to […]Continue Reading..
The last date to file income tax return (ITR) for the financial year 2019-20 is fast approaching. In order to file your income tax return you need some basic documents like PAN Card, Form 16, Interest certificates from banks and post offices, salary slips, tax saving investment proofs etc. What is Form 16? Form 16 […]Continue Reading..
It’s a big development from retirement fund body Employees’ Provident Fund Organisation (EPFO) for over 35 lakh persons who could not submit the Jeevan Pramaan Patra (JPP) document by November due to coronavirus pandemic. In the latest development, EPFO has extended the deadline for submission of life certificates by pensioners till February 28. The pensioners who […]Continue Reading..