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Tax saving on donation: You can get up to 50% deduction on your donation to Ayodhya Ram Mandir CBDT notified Ayodhya Ram Mandir (Ram Janmabhoomi Teerth Kshetra) long back and experts say its very simple process. All you need to do is donate money for renovation purposes and then claim Section 80G tax deduction up to 50% of the amount
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How to add a bank account on income tax website A verified bank account ensures seamless processing of returns
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5-year Post Office Time Deposit or Tax-saving bank FDs: Which offers higher interest now? Check if they differ in interest rates, taxation, and other specifics. Post Office TD offers a fixed 7.5% rate, while banks' rates range widely depending on the institution
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NRIs getting income tax notices for claiming lower tax rate benefit under DTAA; Know how to resolve this situation
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Missed advance tax deadline of March 15? Salaried employees can still avoid paying interest under Section 234C before March 31, here’s how
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Lower tax on higher income in new tax regime from April 1: How your salary structure will decide if you get a big tax savings Many salaried employees hesitated to switch to the new tax regime as they could save taxes on the investments and expenses made during the financial year. However, unlike the old tax regime, where the 30% tax rate starts at incomes above Rs 10 lakh, the 30% tax rate in the new tax regime will start from incomes above Rs 24 lakh
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Tax-saving FD interest rate up to 8%: Check banks offering highest interest rate to senior citizens on tax-saving FDs These deposits offer stable returns and additional interest for senior citizens. While the principal amount is tax-deductible, the interest earned is taxable. Here are banks offering 7.50% and above on tax saving FDs for senior citizen
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Submit LTA proofs before March 31, 2025, to avoid risking tax notice when claiming LTA tax exemption in income tax return LTA tax exemption cannot be claimed for foreign travel. There are income tax rules defined to claim the exemption on leave travel allowance
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When to use Capital Gains Account Scheme to save income tax if you made long term capital gains after selling land, property, equities etc?
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Income tax offences: To avoid jail term when can you use Income tax compounding provisions; CBDT issues new FAQ
Both Tax-Saving Fixed Deposits (FDs) from banks and the Post Office 5-Year Time Deposit provide secure investment options while offering tax benefits under Section 80C
Many NRIs using Double Taxation Avoidance Agreement (DTAA) are getting Income Tax notices for claiming benefit of lower or nil rate of tax, know how to get out of this problem
Salaried employees can still avoid paying penal interest u/s 234C before March 31, here’s how