Owning a home brings pride and satisfaction, but it is also the biggest financial obligation for the individual. The flurry of rate hikes by the RBI has pushed up home loan rates from 6.5% to 9% in the past 15 months. A 20-year home loan taken in April 2022 at 6.5% will now have to…
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…
Higher interest rates than bank FDs on these saving schemes: If you are thinking of investing your money, and don’t want to take a risk, then apart from bank fixed deposits (FDs), you can even put your money in Post Office Saving Schemes. Apart from the lucrative interest rate, investing in these schemes offer a…
Form 16 is one of the most important documents for filing income tax return (ITR), especially for salaried individuals. This is a TDS certificate that contains details of salary, allowances, and other benefits that are given to an employee by an employer during a financial year. Form 16 also mentions the tax that has been…
After releasing the Excel utility of income tax return (ITR) forms 1 and 4 on April 25, 2023, the income tax department has now enabled the online forms for ITR-1 and 4. As per the income tax website, “Income-tax Returns Form ITR 1 and ITR 4 are enabled at the portal in Online mode with…
The Life Insurance Corporation of India (LIC) has launched a new insurance plan — Dhan Vriddhi on June 23, 2023. It is a non-linked, non-participating, individual, savings, single premium life insurance plan which offers a combination of protection and savings, the insurer mentioned in a press release. LIC Dhan Vriddhi plan provides financial support for…
Defence Research and Development Organization 2023 Jobs Recruitment Notification. DRDO inviting applications for the positions of Apprentice. Interested and Eligible candidates can apply for the positions. Last Date for Submission of Application is on 28th June, 2023. No.of Posts and Vacancies :- Apprentice – 62 Posts Job Location – Andhra Pradesh Education Qualification : Naval…
WhatsApp users in India have recently taken to social media to report spam audio and video calls from international numbers, which offer easy-do-do jobs such as clicking likes on YouTube. Union minister of state for IT Rajeev Chandrasekhar had reported to have sent a notice to WhatsApp regarding the unsolicited calls and messages. In its…
Kolkata-based finance professional Chiranjoy Dutta earns well, but also pays a high tax because his salary is not tax-friendly and he doesn’t claim all the deductions available to him. TaxSpanner estimates that Dutta can reduce his tax by over Rs.1 lakh if his salary includes some tax-free allowances, and he opts for the NPS benefit…
The Employees’ Pension Fund Organisation (EPFO) issued a circular on May 11, 2023, clarifying that eligible employees and pensioners are required to provide a written consent within a specified time limit to transfer or deposit the funds from their Employees’ Provident Fund (EPF) account to the Employees’ Pension Scheme (EPS) account. According to the circular,…