'Tenants who pay rent above the threshold limit must be extra cautious about TDS fillings.'
You can avail of tax deduction on expenses incurred on preventive health check-ups. This provision is beneficial to younger people who don't exhaust their Section 80D limit with their health insurance premium.
The reimbursement components of your salary require you to furnish bills before they become tax-exempt. Producing them may be difficult this year.
'Investors with as little as Rs 1 can start investing in digital gold.'
Most taxpayers will benefit from being in the old tax regime, assuming they optimise their salary for tax benefits and claim the deductions available to them.
If you are scouting for a property, finalise the deal within the next seven months and benefit from this measure, suggests Bindisha Sarang.
Be mindful that each instrument is governed by a different set of gifting rules and is also taxed differently.
Only those who stick to the old I-T regime will get this benefit.
There are, however, a few aspects to factor in before considering G-Secs as an investment option, advises Bindisha Sarang.
'If you miss the deadline, you can still file a belated tax return till March 31, 2021, with a fee under Section 234F, which could be up to Rs 10,000, in addition to an interest under Section 234A and 234B of the Act.'
Finance Act, 2019 has made it mandatory for certain categories of taxpayers to file their ITR, even though their income may be below the taxable threshold. read on to find the details.
While it is not clear whether the new form will be applicable from this year, some chartered accountants say that things can go both ways. The new deadline for filing ITR is November 30.
This could impact non-resident Indians staying in countries such as UAE which does not impose income tax on individuals under local tax laws.
The trick is to know how long you are supposed to hold which document, observes Bindisha Sarang.
While using the family to save tax is legal and smart, ensure you use the ones where clubbing income laws isn't a concern, advises Bindisha Sarang.
Collingwood, 42, became the first England captain to win a trophy at a global tournament when he guided them to the ICC World T20 in 2010. He was part of three Ashes series wins over Australia before retiring from international cricket in 2011.
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