Income tax can be a confusing subject especially when you are at the start of your professional life. But not planning your taxes will only lead to you losing your hard-earned money.
savings exempted from income tax
If you are young and have just started building your financial corpus, investing into ELSS could be a great option. Because equity is highly risky.
Download Form 12BB as a Word, Excel or PDF file- All Employees to file Declaration under Form 12BB to claim deduction for savings under Section 80 C, payment of house loan interest under Section 24, and HRA exemption under Section 10
CBDT has simplified the format and procedure for self declaration of Form No.15G or 15H. The procedure for submission of the Forms by the deductor has also been simplified
Postal department will accept Passport. Aadhar card and PAN card as a valid document for age proof of girl child for opening of Sukanya Samriddhi Account - Notification issued
With the available common exemptions and deductions that are applicable to a Salaried Employee, Gross Total Income of up to Rs.6,94,200/- can be income tax free
As Drawing and Disbursal Officers (DDO) responsible for deduction of income tax from the salaried employees need to prepare for deduction and payment of income tax from the end of November of a financial year, all salaried employees have to…