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Is Interest Earned On Savings Bank Account Taxable?
All of the banks in the country offer an interest rate for daily balances maintained in the savings account. Some banks like State Bank of India offer an interest rate of just 3 per cent, while banks like IDFC First Bank ...
4 Tax Saving Expenses Available Under Section 80C
You must be briefed that there are many tax-saving resources accessible in approved schemes such as PPF, ELSS or insurance under section 80C of the Income-tax Act, 1961. But apart from this there are also some expenses that are allowed under ...
Tax Saving Expenses Available Under Section 80c
FY 2020-21: 6 Income Tax Benefits For Senior Citizens
India's income tax legislation provides certain advantages for retirees and as per the regulations, a resident senior citizen of India falls under the age group of 60 years and 80 years and very poor citizen above 80 years of age are ...
Fy 2020 21 6 Income Tax Benefits For Senior Citizens
CBDT Offers Relief To Seniors On Self-Assessment Tax
The CBDT has extended relief to senior citizen class on self assessment tax. As part of the earlier relief if they had self assessment tax liability of over Rs. 1 lakh in financial year they can file the return by November ...
Wilful Tax Evasion To Result In Jail For Up To 7 Years
Tax evasion, underreporting of income or even skipping from payment of penalty or interest chargeable is an offer as per the Income tax Act and this may land the person involved in jail depending on the amount of tax evaded or ...
Wilful Tax Evasion To Result In Jail For Up To 7 Years
3 Investments That Earn You Tax Free Interest Income
If you have surplus liquidity, are looking to invest in debt instruments and are in a high tax bracket, it is best to look at investments that offer tax free interest income. There are only a few investments where the interest ...
Investments That Earn You Tax Free Interest Income
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