Section 80CCD of the Income Tax Act, 1961 provides for a tax deduction against a contribution made towards the National Pension Scheme and the Atal Pension Yojana. Section 80CCD provides for a tax deduction to the individual taxpayer on fulfillment...

Special Exemptions on Capital Gains on Sale of Immovable Property: The Government of India provides some exemptions on long-term capital gains arising from the sale of immovable property like houses, apartments, etc. For instance, you purchased a flat in May...

What is professional tax? Professional tax is a tax that a state government levies on any individual who earns income through any medium. Unlike the name suggests, professional tax is not just for professionals but for all individuals. The list...

The Income Tax Department lays down the due date for each taxpayer for filing returns, paying taxes, furnishing certificates and so on. A failure, default or delay in doing so results in payment of late fees and penalties. Hence, you...

Budget 2023 Updates The amount of advance tax paid is reduced only once for computing the interest payable u/s 234B if the taxpayer files an updated ITR. Advance tax is paid on income that one earns during the year, usually...

Universal Account Number (UAN) is a 12-digit unique number that EPFO assigns to every employee. This number remains the same throughout the employment tenure of an individual. All the PF contributions from various jobs can be managed with one UAN....

Gold is an asset that holds emotional and social value in India. It is the most coveted asset that is also considered an auspicious investment. But holding physical gold comes with its own set of risks and costs. Hence, the...

The small savings scheme interest rates are decided by the Ministry of Finance every quarter. The interest rates of small saving schemes are announced every quarter. This article covers various small savings schemes and small savings scheme interest rates in...