Income Tax: 5 high-value cash transactions may attract I-T notice

The misconception that cashless transactions are less traceable by the Income Tax Department has arisen due to the increasing prevalence of such transactions. Nevertheless, this belief is incorrect. This is because banks and other financial institutions must notify the Income Tax department of transactions surpassing a specified threshold. This encompasses card payments, UPI transactions, as…

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Aadhaar Card For New-born Child: Know What Is Blue Aadhaar & How To Apply

Aadhaar is a unique 12-digit identification number issued by the Unique Identification Authority of India (UIDAI) to residents of India. It’s more than just a number; it’s linked to an individual’s demographic and biometric information, including name, address, photograph, fingerprints and iris scans. Aadhaar serves as a valid proof of identity and address across the…

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EPF vs PPF, Which One Is Better? Can You Take Both Schemes Together, Check Details Here

EPF vs PPF Comparison: Retirement plans supported by the government provide individuals with diverse avenues to invest in their future financial stability. Among these options, the Employee Provident Fund (EPF) and Public Provident Fund (PPF) stand out as favoured choices for individuals aiming to fortify their retirement funds. Each scheme comes with distinct withdrawal regulations,…

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NPS Tax Benefit In Old And New Regime; Know How Can You Save Tax

NPS (National Pension System) is a voluntary, long-term retirement savings scheme regulated by the Pension Fund Regulatory and Development Authority (PFRDA) in India. It is designed to provide retirement income to subscribers. Experts believe that NPS is a great way to save for retirement while also enjoying significant tax benefits. However, it’s important to remember…

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