You may have to claim refund for FY2019-20 tax saving done after March 31
The government has extended the deadline to complete tax-savings to June 30, 2020, via an ordinance dated March 31, 2020. However, this might lead to individuals filing ITR to claim excess tax deducted from their salary income.
Tax saving deadline extended for FY2019-20: Here's how it impacts you
The government has extended the last date for tax saving for FY2019-20 from March 31, 2020 to June 30, 2020.
Tax-saving investments for FY 2019-20 allowed till June 30, 2020
According to chartered accountants, this means that individuals can complete their tax-saving exercise for the ongoing financial year 2019-20 by June 30, 2020.
New to the working world and tax-saving? Here's help
Many young earners are left confused as to what the tax-saving exercise entails. In this video, Shambhavi Mehrotra of ET Online sheds light ...
How to save tax without fresh investments in FY 2019-20
A taxpayer may be having liquidity issues and as such, not be in a position to make further investments in tax saving instruments. For such taxpayers, there are certain expenditures, which are also eligible for a tax deduction in the financial year 2019-20.
Aadhaar-PAN, Vivad se Vishwas, belated ITR, tax-saving deadlines extended to June 30, 2020
The government decision comes amid curfews and lockdowns due to the Covid-19 pandemic.
5 tax-saving options for risk-averse investors
Risk averse investors look for stability in their returns and market volatility makes them nervous. So if you are someone who does not want ...
Sabka Vishwaas scheme deadline extended till June 30
The government has extended most tax compliance deadlines for individuals to June 30, 2020. The main deadlines extended include: Linking Aad...
How to know which income tax slab you fall in?
As your income level increases, income at different levels or in different bands will be taxed at different rates which are called the slab rates. To know how much is your tax liability in FY 2019-20, it is important to know which income tax slab you fall in.
Can NRIs save tax through health insurance bought in India?
An NRI is allowed to buy a health insurance policy in India to secure their health as well as that of their family members. Most Indian health insurance policies provide treatment only within the boundaries of India.
Comparison of new income tax regime with old tax regime
Based on an example, it is evident that maximum benefit in terms of tax savings that can be availed under the new regime (in case no investments are made) is Rs 75,000. The highest tax rate, i.e. 42.7%, will continue to be a major challenge for HNIs.
Yes Bank crisis could hit your tax saving for current financial year: Here's what to do
If your SIP in an ELSS mutual fund scheme or premium for health or life insurance was being auto-debited from a Yes Bank account then these debit won't have taken place after the bank was put under moratorium.
Investing in mutual funds to save tax? Keep these points in mind
Equity linked savings schemes or ELSS offer tax deduction under section 80C of the Income Tax Act, for investments up to Rs 1.5 lakh in a fi...
How to get a double benefit on your tax-saving this FY
While choosing the right tax saver, among several other factors such as safety, liquidity and returns, make sure you understand how the retu...
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