Satyam Pati

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What is Self Assessment Tax? Who must pay and how to calculate tax payable?

What is self assessment tax? It is a well-known fact that every person has to pay tax on their income. There are various ways in which tax is collected by the government by way of advance tax, tax deducted at...

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Commodity Index – Meaning and How it Works?

Introduction A commodity index is an alternative investment vehicle that tracks the prices and returns on investment of a basket of commodities. It tracks currencies, agri commodities, energy products, precious metals, industrial metals, etc. The value of the index depends...

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How To Claim Income Tax Rebate u/s 87A?

The tax rebate u/s 87A allows a taxpayer to reduce his/her tax liability marginally depending on the net total income. In this article, we will cover the eligibility, steps to claim, points to keep in mind while claiming the rebate....

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Section 16- Standard Deduction, Entertainment Allowance and Professional Tax

Section 16 of Income Tax Act, 1961 Section 16 of Income Tax Act, 1961 provides deduction from income chargeable to tax under the head ‘salaries’. It provides deductions for the standard deduction, entertainment allowance, and professional tax. Through this deduction,...

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Section 80D of Income Tax Act- Meaning, Eligibility, Deduction Allowed

In order to take care of one’s medical emergencies, medical insurance is considered as the safest investment option. This allows the taxpayer to avail of the benefits on two front. One being taken care of by the insurance policy in...

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    Section 194A of Income Tax Act, 1961

    What is Section 194A of Income Tax Act, 1961? According to section 194A of income tax act, every assessee is liable to deduct tax at source on interest other than interest on securities. Here, every assessee includes taxpayers who are...

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    What is an advance tax? Who should pay and when?

    Advance tax is paid on income that one earns during the year, usually in installments. It is estimated based on the income that one might earn during the year. Anyone with a tax liability above INR 10,000 is liable to...

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    Best Investments for Senior Citizens in India

    Introduction Regardless of age, one always has to make money work for them. With age being a major constraint for senior citizens, the need to choose the best investment in India is essential. Senior citizens have various investment options to...

    Personal Finance & Investment Insights


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