SGBs redemption 2024: The Reserve Bank of India (RBI) annually issues Sovereign Gold Bond (SGB) tranches, outlining their issuance and redemption dates. These bonds have an eight-year tenor but allow premature redemption after five years from the date of issue. According to ET, several SGBs from the 2016 series are up for final redemption in … Read more
Tax benefits of NSC: The National Savings Certificate (NSC) is a government-backed scheme ideal for low-risk investors. It offers guaranteed returns and tax benefits. NSC certificates are available in electronic or passbook formats.Interest rate updateThe current interest rate for NSC stands at 7.7% for the quarter from April to June 2024. It’s important to note … Read more
Updated ITR deadline: As the deadline for updating Income Tax Returns (ITRs) for the fiscal year 2020-21 draws near, many individuals have recently received emails from the Income Tax Department regarding significant transactions flagged in their Annual Information Statement (AIS). Here’s what you need to know about these communications and how to address them: Who … Read more
Long weekend cancelled for income tax department: The approaching end of the financial year 2023-24 brings with it deadlines and obligations for taxpayers across the country. However, with March 29 falling on Good Friday and March 30 being a Saturday, followed by March 31 on Sunday, it initially appeared to be a long weekend for … Read more
Tax savings for FY 2023-24: When it comes to saving on income tax, most salaried individuals turn to the familiar territory of Section 80C. Offering a deduction limit of Rs 1.5 lakh annually under the Income-tax Act, 1961, it’s undoubtedly popular.But what if you’ve already used this limit? Fear not, as there are other avenues … Read more
Money deadlines in March 2024: As the current financial year is set to end, it’s important not to overlook important deadlines that could affect your finances. These dates involve regulations that taxpayers and investors must adhere to, in order to avoid penalties or fines for missing them. As per an ET report, here are some … Read more
MUMBAI: It’s that time of year when taxpayers under the old tax regime – mostly the salaried class – rush in to invest that extra amount to help them save some taxes under section 80C of the Income Tax Act. The tax saving options available to taxpayers are quite a handful: Equity Linked Savings Schemes … Read more
MUMBAI: It’s that time of year when taxpayers under the old tax regime – mostly the salaried class – rush in to invest that extra amount to help them save some taxes under section 80C of the Income Tax Act. The tax saving options available to taxpayers are quite a handful: Equity Linked Savings Schemes … Read more
It is tax planning season, and investors are considering the Equity Linked Savings Scheme (ELSS) for its dual benefits of capital appreciation and tax exemption. ELSS mutual funds provide tax exemption on investments up to Rs 150,000 under Section 80C of the Income Tax Act.ET quoted Deepak Gagrani, Founder of MADHUBAN FINVEST, saying that investing … Read more
ELSS tax saving funds: As the financial year comes to a close and individuals seek avenues for tax savings under Section 80C, Equity Linked Savings Schemes (ELSS) emerge as a popular choice. With the potential to provide tax benefits of up to Rs 1.5 lakh, ELSS presents investors with an opportunity to save on taxes … Read more