As per the provisions of Income-tax Act, where a return of income is filed, it is verified and processed electronically by the income-tax authorities. Upon processing, an intimation under 143(1) of the Act is generally issued to the taxpayer within nine months from the end of the financial year (FY) in which the return is…
Bengaluru-based media professional Shefali Sahay earns well, but almost a fifth of her salary goes in tax because she doesn’t claim all the deductions available to her. Taxspanner estimates that Sahay can reduce her tax by more than Rs.1.5 lakh if she opts for the NPS benefit offered by her company, invests in the scheme…
Microblogging platform Twitter may soon get a video app for smart TVs. Responding to a user query on the platform, Twitter owner Elon Musk has confirmed that the app is ‘coming.’ On Twitter, a user with an account name S-M Robinson said, “We really need a Twitter video app for Smart TVs. I’m not watching…
WhatsApp is one of the most popular instant messaging apps. The platform keeps bringing new features to its users to enhance the app experience. Now, the instant messaging app may soon offer support for Meta Quest. According to a report by WaBetaInfo, WhatsApp is working to add Meta Quest compatibility on Android beta as a…
How long will the employee provident fund (EPF) account continue to accrue interest after contribution to the account has stopped? is it taxed at the slab rate for the financial year of withdrawal or is there any mechanism to optimize the income tax to be paid? Once an EPF account becomes inoperative, no interest is…
At one point, nearly 20,000 users in total said they were having trouble accessing Facebook and Instagram and Meta’s messaging service WhatsApp. Meta Platforms said on Friday services on its social media apps Facebook and Instagram were restored, more than two hours after an outage that affected thousands of users. At one point, nearly 20,000…
Six banks offer up to 7% interest rates on savings accounts: Opening a savings account is the first step toward the start of your financial journey. Savings account interest is typically calculated daily based on the account’s end-of-day total amount and paid quarterly. If you want more interest in your money, then small finance and…
Only twelve days window left for employees to apply for higher EPS pension. With an aim to provide more clarity on how to claim a higher pension, the Employees’ Provident Fund Organisation (EPFO) on Wednesday released a circular on what all documents one can submit. The retirement fund body has also detailed the method of…
As the deadline for filing income tax returns (ITRs) is approaching, the income tax department has released the online ITR-3 form on its official website. The tax department had already made available online forms for ITR-2, ITR-1, and ITR-4. There are seven ITR forms for individuals, namely, ITR 1, ITR 2, ITR 3, ITR 4,…
New Delhi: The Goods and Services Tax (GST) council is likely to consider penal measures against the entities involved in the fake GST invoice racket to check evasion at its next meeting on July 11, officials said. These measures could include an increase in penalty, mandatory physical verification of premises and suspension of GST registration…