If your monthly house rent payment is Rs 50,000 or more, then you are liable to deduct tax deducted at source (TDS) at a specified rate from rental payment. Here is a look at when to deduct TDS from house rent payment and how to deposit. Who should deduct TDS?According to Archit Gupta, Founder and…
Starting August 1, the National Payments Corporation of India (NPCI) has introduced new FASTag rules aimed at streamlining toll collection, reducing congestion, and enhancing the efficiency of the nation’s roadways. These changes also necessitate users to update their accounts to avoid potential inconveniences at toll plazas. Consequences of Non-Compliance Adhering to the new rules and…
Aadhaar is a 12-digit unique identification number (UID) issued by the Unique Identification Authority of India (UIDAI) to Indian residents and NRIs. If you have lost your physical Aadhaar card or Aadhaar number, you can report it to UIDAI’s toll-free number 1947 or online at its official portal. This will help prevent misuse of your…
A pair of train services will be partially cancelled on 29 June due to the engineering works in the Guntakal Division of South Central Railway, Southern Railways has said as reported by ANI. As per the information shared Train No. 22616 from Coimbatore Junction-Tirupati and 22615 from Tirupati-Coimbatore Junction has been partially cancelled on 29…
The due date to file income tax return (ITR) by individual taxpayers who are not subject to tax audit under the Income-tax Act,1961 for the FY 2022-23 (AY 2023-24) is July 31, 2023. This article explains the most efficient way to file the return in Form ITR-1, including illustrative examples for easy reference. Who can…
There is a wide array of credit card options available today and if searched correctly, there is a card for everyone’s needs. Credit cards today offer a variety of incentives such as cashback, travel benefits, and reward points. The credit card rewards world has become fiercely competitive, meaning that card issuers are wooing new customers…
Bank Holidays In September 2024: If you need to visit a bank branch in September 2024, make sure to check the list of bank holidays before heading out. This month has numerous bank holidays, with banks closed for a total of 15 days due to weekly breaks and festivals. During these holidays, you can still…
Occasionally, individuals may accidentally transfer money to the wrong UPI ID. In the great run of digital transactions, mistaken UPI payments can happen to any person. If you find yourself in this situation, acting quickly is essential. Can you retrieve the funds? You can recover your money with prompt action and the proper steps. Here’s…
The Reserve Bank of India has encouraged banks to publish a list of unclaimed deposits and inactive accounts that have been unclaimed, inactive, or for 10 years or more so that potential claimants can research the names online before visiting the bank. Currently, in order to find unclaimed bank deposits that have been lying dormant…
Interest component of home loan for one let out house comes to around Rs. 3.50 lakhs. I receive a monthly rent of ₹15,000 p.m. I stay in a rented house. Under the circumstances can I claim loss from the house let out by me as deduction against my salary income? For computing taxable income, you are…