DATE TO DEPOSIT TDS AMOUNT
ITR filing: How to file income tax return when you have more than one Form 16 due to job change
Form 16 is a TDS certificate that provides information on the salary paid and tax deducted by an employer. Employers must issue Form 16 to employees by June 15. This allows individuals to file their ITR by July 31, 2024 for the financial year 2023-24. Those who change jobs in a year need Form 16 from each employer.
Earn up to 9.4% interest rate on this corporate FD; check details
Shriram Finance offers higher fixed deposit interest rates for senior citizens and for women investors. The minimum tenure of a fixed deposit is 12 months, and the maximum tenure is up to 60 months.
How to download Form 16A from the TRACES website, SBI, HDFC Bank, ICICI Bank
How to download Form 16A: When non-salary payments like TDS professional fees, rent, and bank interest are made, the deductor provides a "TDS Certificate" to the IT Department. Here is how to download Form 16A TRACES website, SBI, HDFC Bank, ICICI Bank
Dividend received from shares and MF is taxable; Here’s how to reduce your tax outgo from dividend income in your ITR
Dividend from shares and MF: You have to pay income tax on all dividend received, however there is a way using which you can reduce the net tax outgo on dividend income. "Only interest expenses are allowed as a deduction from dividend income," says Neeraj Agarwala, Partner, Nangia & Co LLP.
How to file ITR-2 form: 10 documents you need to file ITR-2
How to file ITR-2 form: ITR-2 can be filed using the income tax department's Excel or Java programs, or online through the e-filing portal. Let's look closer at who should file ITR-2 and the important documentation required for filing.
ITR filing deadline should be permanently extended beyond July 31: Salaried get only 45 days to file tax returns
ITR filing deadline extension: The due date to file income tax return by a salaried individual is July 31, 2024 for FY 2023-24 (AY 2024-25). However, in reality salaried taxpayers get only 45 days to file their income tax return. Here are some reasons and why there is a need for permanent ITR filing deadline extension.
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TDS deduction from salary not enough: Salaried employees must file ITR despite tax deducted by employer
Income tax return for salaried: You need to file your income tax return even if you do not need to pay any income tax due to section 87A tax rebate. Also if you think that since TDS has been deducted from your income, you need not file ITR, then this notion is wrong.
Make deposits great again: Rather than constrain credit growth through diktats, here's what Budget should do
Budget: While publicly advocating for credit growth, the regulator has simultaneously been restraining financial companies, raising the cost of capital for lending in the unsecured market and constraining credit growth through moral suasion.
Latest NSC interest rate: Is the National Savings Certificate interest rate higher than 5-year FD rates of SBI, HDFC Bank, ICICI Bank
National Savings Certificates is considered as the best option for risk-averse investors looking for consistent returns that are often higher than fixed deposits. NSC is a government-backed fixed-income investment scheme offered by India Post's small savings schemes.
Trademark infringement: Patanjali asked to deposit Rs 50 lakh for breach of HC order
The Bombay High Court directed Patanjali Ayurved to deposit ₹50 lakh for allegedly breaching an interim order restraining it from selling camphor products, following trademark infringement allegations by Mangalam Organics Ltd. Patanjali admitted the breach in a June affidavit, prompting the court to consider contempt proceedings and schedule further hearing on July 19.
FD interest of up to 8.35% on senior citizen FDs maturing between one year and less than two years: List of banks offering best rates
Fixed deposit: Senior citizens can get upto 8.35% interest rate on FDs maturing between one year and less than two years. There are many private sector banks who are offering an FD of such high interest rate, so hurry up and book an fixed deposit with the banks offering such a high FD interest rate.
FD interest rate up to 8.75%: These 5 banks have revised fixed deposit rates with effect from July 1
FD interest rates in July 2024: Many banks have revised their fixed deposit interest rates effective July 1, 2024 for amounts below Rs 3 crore. Note that some banks have updated the date and rates remain the same. Check which bank offers the highest interest rates after the revision.
Got Form 16 from your employer? Check these points before filing ITR
Form 16 has all the essential information to file your income tax return easily. It's crucial to double-check that the information in Form 16 is accurate. The income tax department currently provides pre-filled ITR forms on its e-filing website. These pre-filled forms make it easier to compare the information with Form 16.
What is AIS, how to download it and how it helps taxpayers in ITR filing?
What is AIS, how to download AIS: Annual Information Statement (AIS) is a statement introduced by the income tax department in 2021. This statement is a comprehensive which help individuals and other taxpayers to get access of most of their financial transactions done in a financial year. It also helps in the knowing different sources of income.
Saving for child's education: Market volatility, inflation pose serious risks to investments. Find out how to keep them safe
Market volatility and inflation can pose serious risks to the investments set aside for your child's education. It's important to consider strategies to safeguard these funds against potential financial downturns and rising costs.
Form 16 due date: When will you get TDS certificate from your employer?
Last date to get Form 16: Salaried individuals need Form 16 to make the ITR filing process easier for them. It is a TDS certificate showing all the taxes deducted during the financial year as well as total income paid by an employer during the financial year. Read on to know the deadline for employer to issue Form 16.
FD interest rate up to 9.1%: 9 banks have revised fixed deposit terms, rates after new RBI rule
FD interest rates in June: The RBI announced the proposal to revise the definition of bulk fixed deposits. Here is a list of banks that have revised the date and updated their retail deposits from Rs 2 crore to Rs 3 crore.
Salaried individual filing ITR? Advisable to wait till June 15
ITR filing for salaried individuals: The last date to file income tax returns for salaried and other taxpayers (whose accounts are not required to be audited) is July 31 every year. However, it is advisable for salaried individuals to start the process of filing their tax returns after June 15 due to following reasons.
Aadhaar-PAN linking update: Pay penalty for not deducting higher TDS amount if PAN and Aadhaar not linked by this date
The Income Tax Department has urged taxpayers to link PAN with Aadhaar by May 31, 2024, to avoid higher tax deducted at source (TDS) or tax collected at source (TCS). The TDS is deducted at a higher rate when a deductee’s (whose tax has been deducted) PAN has not been linked with Aadhaar. A PAN that is not linked Aadhaar becomes an inoperative PAN.
FD interest rate up to 8.6%: 10 corporate fixed deposits with the highest interest rates
A corporate fixed deposit, or corporate FD, is a term deposit with fixed interest rates kept for a predetermined amount of time majorly issued by Non-Banking Financial Corporations (NBFCs) & Housing Finance Companies (HFCs). Here is list of company fixed deposit interest rates.
Up to 8.6% interest rate: Find out best interest rates offered on senior citizen FDs
Fixed deposit: Senior citizens can get up to 8.6% interest rate on bank FDs. For a senior citizen investing in FDs are lucrative for two reasons-slightly higher interest rate than general citizens, and a higher threshold limit for tax deducted at source (TDS). Read here to find out the highest FD rates for senior citizens.
HDFC Bank has yet again extended last date to invest in senior citizen special FD with higher interest rate
The deadline for investing in HDFC Bank's senior citizens-only special fixed deposit program has been extended. Launched in May 2020, this unique senior Citizen Care FD provides with greater interest rate perks.
New vs old tax regime - which is beneficial for you? Amount of deductions you can claim decides
New vs old tax regime: Many taxpayers find it difficult to ascertain which tax regime makes them pay lower tax in a financial year. The simple answer to that is the amount of deductions claimed by you in the old tax regime. However, the amount of deductions that must be claimed by you varies for every different income level.
TDS deduction: Why you must check status of PAN Aadhaar linking status of deductee on deduction date to avoid income tax notice
Tax deducted at source (TDS): While it is important to deduct a correct amount of TDS in certain transactions, it is also important to check the status of the deductee's PAN. If the TDS deductor does not check the status of PAN of the deductee on the date of TDS deduction then all the penalty and other legal repercussions would be applied to him and nobody else.
NCLAT permits John Energy to deposit Rs 254 cr settlement amount
NCLAT allows John Energy to deposit Rs 254 crore with 12% interest for OTS with ICICI Bank and Axis Bank, pending NCLT's decision on the insolvency plea. Various details and parties involved in the case are discussed.
Have you checked your advance tax liability? Pay by this date to avoid penalties
Advance tax: If your estimated tax liability for any given financial year after subtracting tax deducted at source (TDS) exceeds Rs 10,000 then advance tax needs to be paid following a specified schedule. However eligible senior citizens and other prescribed individuals need not pay advance tax. Read here to know more about advance tax.
Is there a time limit for depositor to claim unclaimed amount from DEA Fund? RBI releases important FAQs
What is Depositor Education and Awareness Fund: The deposits becoming due to be transferred to DEA Fund (i.e., unclaimed for 10 years), in the month of April shall be transferred to the DEA Fund on the last working day in the month of May. Customers can request a return of their unclaimed funds from their banks.
IRDAI issues new circular to help speedy disbursal of unclaimed insurance money
Due to an increase in unclaimed amounts and concerns from insurers over regulatory compliance, the Insurance Regulatory & Development Authority of India (IRDAI) modified the Master Circular on unclaimed amounts of policyholders
Is TDS applicable on interest earned from SBI Green Rupee Term Deposit (SGRTD)?
State Bank of India (SBI) has introduced a new deposit program called "SBI Green Rupee Term Deposit" to raise funds to assist the bank's green efforts.
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