ITR refund: Due date for income tax return (ITR) filing is 31st July 2023. Who is entitled to get a refund, what are the taxation rules of ITR? And how to claim your refund? In this article, I wish to discuss various aspects of income tax refund under the Income Tax Act. 1)When you are…
In a pioneering move, The Reserve Bank of India (RBI) has introduced a draft rule that empowers debit, credit, and prepaid card users to select their preferred card network, marking a potentially groundbreaking development worldwide. This rule challenges the existing practice where card network options are predetermined by agreements between issuers and networks RBI draft…
HDFC Bank special FD for senior citizens: HDFC Bank has yet again extended the special fixed deposit (FD) scheme for senior citizens offering higher interest rates. HDFC Bank’s special FD for senior citizens. Senior Citizen Care FD, was launched in May 2020 amid the covid pandemic. The last date to invest in the Senior Citizen…
1.The debt avalanche strategy for repaying debt involves paying off loans with highest interest rates first. 2.One must make minimum payments for all debts to protect the credit score, but any extra money should be routed to the loan with the highest rate. 3.Once your debt with the highest interest is paid, move to the…
Chennai-based automobile engineer Prashanth Maruthur does not pay very high tax, but he can easily reduce it by half. TaxSpanner estimates that Maruthur can reduce his tax by almost 52% if his company offers some tax-free perks, if he opts for certain benefits in his pay, and invests in the NPS. As a first step,…
ChatGPT, the highly popular AI chatbot introduced in November, experienced a decline in its website’s monthly traffic and unique visitors for the first time in June, as reported by Similarweb, an analytics firm. Globally, the desktop and mobile traffic to the ChatGPT website witnessed a decrease of 9.7 per cent in June compared to May,…
The Section 80C of the Income Tax Act allows tax deduction of up to Rs 1.5 lakh in a financial year on investments in a few specified instruments. In fact, most salary earners start saving or investing under Section 80C immediately after their first salary. If you are trying to save taxes in this financial…
The government created the Permanent Account Number (PAN) to enable easy retrieval of information and to enable matching of information relating to investments, loans, and other business activities of taxpayers collected through various sources, both internal and external, for detecting and combating tax evasion and expanding the tax base. As per section 139AA of the…
Get ready to snag some incredible deals and discounts as Amazon US gears up for its highly anticipated Prime Day Sale, happening on the 11th and 12th of July. This annual event has become a shopping extravaganza, offering Prime members exclusive access to a wide range of products at unbeatable prices. During the Prime Day…
TR refund: Due date for income tax return (ITR) filing is 31st July 2023. Who is entitled to get a refund, what are the taxation rules of ITR? And how to claim your refund? In this article, I wish to discuss various aspects of income tax refund under the Income Tax Act. 1)When you are…