Income Tax: If you are planning to opt for old tax regime at the time of filing your income tax return (ITR) in July this year for FY 2024-25, it is important to remember that the last date to invest in tax-saving instruments is March 31 i.e., Monday. If you also intend to file your…
With financial year 2024-25 soon coming to an end, only three weeks are remaining before the taxpayers can invest in the tax-saving instruments such as PPF, NSC, KVP, SSY and SCSS. Â Taxpayers who wish to claim income tax deduction must invest in these instruments before March 31. Where can taxpayers invest to claim income tax…
If you are contemplating investing in either fixed deposit (FD) or a small savings scheme, then it is advisable to compare their returns along with other benefits they offer. Typically, a fixed deposit (FD) offers anywhere between 6.7 to 7 percent per annum to depositors whereas other tax saving schemes offer slightly higher. For instance,…
The new tax regime became a default regime in 2023 but Budget 2025 introduced a higher incentive for taxpayers by allowing zero tax for income upto â‚ą12 lakh, following which there is an expectation that around 90 percent of taxpayers will opt for it over old tax regime. However, one collateral damage of this is that most…
Thanks to Budget 2025, new tax regime has become even more lucrative now. With no income tax for those who earn up to â‚ą12 lakh a year, taxpayers have one more reason to abandon choose new regime over old tax regime. This means more and more taxpayers will now choose the new tax regime, particularly…
In FY 2023-24, the new tax regime became a default regime. This shift has led many taxpayers to wonder whether traditional tax-saving investments such as PPF (Public Provident Fund), NSC (National Savings Certificate), post office saving scheme and NPS (National Pension System) are still relevant for the purpose of investment. The tax-saving instruments, which were…
Small investors often look for a number of investing options for wealth creation. For long term investors, there are such options as equity investment, mutual funds and bonds. Conservative investors, meanwhile, tend to opt for fixed-income instruments such as fixed deposits (FDs), debt mutual funds and small savings schemes, also known as post office savings…
