A non-senior citizen has Fixed Deposits with multiple banks and is not eligible to submit 15G due to expected total interest exceeding the threshold limit. He does not have any tax liability when he files ITR. Now, in one bank there is no TDS as the interest payable is less than ₹40,000/- and another bank […]
Issue of tax notices has become predictable: Nirmala Sitharaman
New Delhi: Finance minister Nirmala Sitharaman said on Monday that issue of tax notices and re-opening of past assessments in the case of high income earners where the department has information about their non-compliance, has become predictable and that there is no fishing expedition. Speaking at an event held to mark the 164th Income Tax […]
IRCTC Down! Railway ticket booking service unavailable on website and mobile app
Railway ticketing website, IRCTC online booking seems to face some outages . People took to Twitter to complain about the IRCTC server being down at peak time. IRCTC customers are facing issues while booking tickets on the web as well as the app. In a statement issued by IRCTC, the ticketing service is not available […]
Flipkart Plus Premium membership: What is it, launch date and other details you should know
Flipkart is gearing up to launch a new service called “Flipkart Plus Premium” for its users. This program is expected to offer more better benefits compared to the existing Flipkart Plus program, where users earn SuperCoins through regular shopping. Despite the name “Premium,” Flipkart Plus Premium will not require a paid subscription and will be […]
Income tax news: How my YouTube earnings are taxed?
I have a YouTube channel. I got earnings from it due to advertisements. Does it fall under income from business or profession? Which one is applicable 44 AD and 44 ADA? Also, I have a salary income of two months in this FY 22-23. Which ITR form is applicable to me? The answer to your […]
EPFO interest rate credit news: Govt approves 8.15% rate for Provident Fund (PF) deposits for 2022-23
The Centre on July 24 accepted the recommendation of the Central Board of Trustees (CBT) of the Employees’ Provident Fund Organisation (EPFO) to increase the interest rate of deposits in Provident Fund (PF) to 8.15%. The new rate will be applicable for this financial year. Retirement fund body EPFO on March 28, 2023, had marginally […]
How to use HRA, NPS to cut tax out by Rs 1.9 lakh
Delhi-based marketing manager Akshay Chopra earns well, but also pays a high tax even though his salary is tax-friendly. This is because Chopra does not claim all the deductions available to him. TaxSpanner estimates that Chopra can reduce his tax outgo by Rs.1.9 lakh if he claims exemption for house rent allowance (HRA) and his […]
4 types of mutual fund SIPs
Systematic investment plan variants Systematic investment plans (SIPs) are an effective tool for investing in mutual funds for the creation of long-term wealth. SIPs allow investors to put in fixed amounts at predetermined intervals. Here are the different variants: Regular SIP A regular SIP is the plain vanilla variant and the most common type. Here, […]
Pension funds to invest in sovereign green bonds (SGrBs): How it will impact retail investors?
Pension Fund Regulatory and Development Authority (PFRDA) has said that it will allow pension funds to invest in sovereign green bonds (SGrBs). As per a report in PTT, the government is expected to issue sovereign green bonds in the second half of the current financial year. The decision by the PFRDA to allow funds to […]
Paytm to become free cash flow positive by the year-end: CEO Vijay Shekhar Sharma
Fintech firm One97 Communications which goes by the brand name of Paytm released their Q1 results on Friday. During the April-June quarter, the company narrowed its loss to ₹357 crore which was a sharp decline from ₹6,444 crore in the corresponding period last year. Paytm founder and CEO Vijay Shekhar Sharma talked about the growth […]