List of Tax Saving Tax Planning Articles

Section 194C of the Income Tax Act covers tax deductions on payments to contractors and subcontractors for work contracts. Learn about Section 194C and the TDS rates.

One of the first documents that we are supposed to check when filing tax returns is the Form 26AS. This is automatically uploaded by the Income Tax department into your secured PAN access area in the e-filing website. Form 26AS is not only an important document but also one of the most authentic records of how much tax has been deposited by your deductor into the government account.

Learn why tax planning is crucial for long-term investments. This guide explores tax-efficient strategies that can optimize returns and reduce liabilities over time.

This comprehensive guide explains everything you need to know about ELSS mutual funds, including tax benefits under 80C, lock-in period, risks, and investor suitability.

Patta Chitta is a land ownership record kept by the Tamil Nadu government. Learn more about Patta Chitta and its importance in this quick guide by India Infoline.

Taxpayers, facing time constraints, may initially file inaccurate or incomplete income tax returns. To address this, the Income Tax Act’s section 139(5) permits the filing of revised returns, enabling corrections and the inclusion of omitted information for accuracy. What is a Revised Return? The Income Tax Act, 1961, Section 139(5) permits taxpayers to present a revised return. This provision empowers them in rectifying errors or […]

Income tax paid by citizens constitutes a major chunk of the government’s revenue. It is imperative to pay taxes for the smooth functioning of the economy. Often a tedious expense, taxation also has perks to it.

Investing in equity not only helps you diversify your portfolio but also fetches high returns in the long term. Investing in equity also offers various tax exemptions and deductions which you can avail of on your stock market investments.

The tax structure in India is a three-tier which includes the Central Government, State Governments and Local Authorities.

The Savings Bank Account operates as a virtual piggy bank. You accrue interest, which then incurs taxation under the category of ‘Income from Other Sources.’ However, numerous individuals remain oblivious to this mandatory tax payment. Section 80TTA of the Income Tax Act from 1961 presents an opportunity – one can deduct up to Rs 10,000 on interest income earned specifically from a savings bank account. […]

In the case of financial planning and tax-saving strategies, the Hindu Undivided Family (HUF) emerges as a powerful asset. Despite being often overlooked or misunderstood, the HUF presents numerous advantages for individuals aiming to streamline tax obligations while simultaneously safeguarding and overseeing family assets. This article will explore the HUF meaning, its operational mechanics, and the compelling reasons why it represents a prudent option for […]

You may have rummaged Google in an attempt to find the right answer, all for nought. The amount of income tax to be paid depends solely on how much you earn and your total taxable income.

The SCSS has emerged as a veritable source of savings for senior citizens and here are some of the highlights of the SCSS scheme. Rate of interest on SCSS is currently at 8.6% and is reset every quarter after a review by the Finance Ministry. The SCSS interest rate has been, on an average, 60-100 bps above the bank FD rate.

For the government, taxes are an essential source of revenue. On the other hand, double taxation happens when taxes are levied at different rates on the same income, which greatly raises the tax obligation. This may occur if the income source and the recipient are subject to taxes. However, it is essential to comprehend the idea and forms of double taxation in order to prevent […]

What is Advance Tax Late Payment Interest? Advance tax is also referred to as the pay-as-you-earn tax system that necessitates taxpayers to remit taxes beforehand in installments on specified dates designated by the tax authorities. Familiarizing oneself with these dates and ensuring timely payments is crucial. Any individual or business liable to pay taxes exceeding Rs.10,000 in a fiscal year must comply with advance tax […]