Postal Time Deposits are similar to Fixed Deposit that you keep with Bank. For claiming deduction, the minimum period for which you should keep such Time Deposit is of 5 years.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Direct tax expert Vikas M Gandhi offered some valuable tax-saving tips.
'To save the LTCG, it's always better that the owner of the property that was sold also becomes the title holder in the new one.'
A recent ruling by Income Tax Appellate Tribunal (ITAT) in the case of Chandrakant Shah stated that if you borrow interest-free money from friends and colleagues neither you nor the lender will have to pay tax.
Do you know what Section 80DDB is and how it can help you save tax? How much tax can you save under this section and how can you avail it?
Learn about the best tax saving investments and options for the assessment year 2010-11).
How about analyzing the right tax saving product for you? Want to know how? Read on. To begin with ask yourself these two questions: your risk tolerance level and what stage in life you are in. But why should you do it in the first place?
Form 16 contains details of salary income, deductions, and exemptions.
'A mid-year review makes the end-of-year financial review manageable and less stressful.'
If you have recently had a salary hike and a corresponding increase in your tax outgo then you must seek your company's co-operation to structure a tax-friendly salary.
Donald Trump's exaggerated opinion of his dealmaking capacity can get him into trouble, observes R Sriram.
Experts say the size of the fund shouldn't be a primary criterion for selection.
Any education loan taken for full-time studies for any graduate or post-graduate course in engineering, medicine, management or for post-graduate course in applied sciences or pure science qualifies for deduction u/s 80E. The tax benefit is available only for the interest component and not for principal repayment, says direct tax expert Vikas Gandhi.
Archit Gupta on how can you maximise your savings and reduce your taxable income.
Prime Minister Narendra Modi on Saturday launched a scathing attack on the Congress party, accusing it of repeatedly "wounding" the Indian Constitution. He claimed that the Congress, driven by its "lust for power," has consistently undermined the principles of the Constitution. Modi, however, praised India's democratic journey since its independence, highlighting the country's strong democratic roots and its unwavering commitment to its founding principles. He underscored the importance of unity for India's future development and emphasized that the Constitution is the bedrock of that unity.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your income tax queries.
Both are four-star, diversified equity, tax saving funds that have been around for more than eight years. Interestingly, both had fund manager changes this year.
The income tax department has found alleged manipulation of account books for reducing taxable income in India by Chinese telecom company Huawei whom it raided recently, sources said on Thursday. The searches were conducted on February 15 at the main business and residential premises of "key office bearers" of a multi-national group, engaged in distribution of telecom products and providing captive software development services, the CBDT said in a statement. Sources identified the company as Huawei.
'We do not believe in fire sale. We don't do it.'
Union Finance Minister Nirmala Sitharaman, along with her team of bureaucrats, delved into the fine print of the 2024-25 Budget documents in a press conference, detailing the government's road map on bringing down the debt-to-GDP ratio and bold tax measures.
If the fiscal deficit target of 4.9% of GDP has to be met for 2024-2025, which the government must in view of the uncertainties and challenges emerging both domestically and globally, the finance ministry may see in the composition of the current year's capex a sliver of hope, notes A K Bhattacharya.
The government on Friday announced a 5 per cent bonus on new monthly post office deposits. The bonus will be applicable for Post Office Monthly Income Accounts opened on or after December 8, the finance ministry said in a statement.
Individual tax payers will save only Rs 1,000 more a year following the government raising the tax exemption threshold by Rs 10,000 to Rs 1,60,000, whereas the benefit for senior citizens (65 years and above) will be higher at Rs 1,500.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
A 'will' unlocks many exclusive tax advantages which are otherwise not available to taxpayers. Here are five important ways in which a will can save you tax. . .
Follow these simple steps if you want to create a solid retirement corpus and retire young, says Anamika Pareek.
The United Kingdom extracted USD 64.82 trillion from India over a century of colonialism between 1765 and 1900 and USD 33.8 trillion of this went to the richest 10 per cent -- enough money to carpet London in notes of 50 British pound almost four times over.
.jpg)
Live chat on Wednesday, March 12, at 4 pm with investment expert Feroze Azeez.
Many seniors mistakenly believe they need not file returns if tax is deducted at source (TDS) on income received. This is incorrect.
Gift is not regarded as an expense and hence whatever amount of gift you give, you will not be able to reduce it from your taxable income, says tax expert Vikas Gandhi.
In his poll rallies, Modi framed Pitroda's comments in his wider onslaught against the Congress, asserting that they have exposed its hidden agenda and that the party has become so removed from the country's social and family values that it wants to legally rob people of their assets and lifelong savings they want to bequeath to their children.
For being eligible for tax benefit, the minimum period of fixed deposit has to be of 5 years. Since the period you have mentioned is 4 years, you won't be eligible for the tax benefit u/s 80C.
Car loan is not eligible for any tax exemption similar to that of house loan, says direct tax expert Vikas Gandhi.
The two leaders had a complex relationship yet formed a partnership and even after their parting of ways, the two admired each other in their efforts for India's freedom.
Mortgage loan won't qualify for benefits under Income Tax, says tax expert Vikas Gandhi.
The reimbursement components of your salary require you to furnish bills before they become tax-exempt. Producing them may be difficult this year.
PPF fits all portfolios, except those earning basic pay of over Rs 8.3 lakh yearly.
There is a need to incentivise R&D investments, offer corporate tax concessions and establish an effective intellectual property rights regime in order to push the growth of domestic pharmaceutical industry, as per the industry bodies. Outlining the sector's wish list for the upcoming Union Budget, Organisation of Pharmaceutical Producers of India (OPPI) Director General Anil Matai urged the government to explore methods to incentivise R&D investments, such as deductions on R&D expenses, research-linked incentives for MNCs, and corporate tax concessions.
'Sebi had no problem with derivatives until trading exploded after Covid.' 'But now, having built a dangerous road, from which different entities, mainly governments, are extracting a heavy toll, Sebi is concerned that people are driving on it in much greater numbers,' explains Debashis Basu.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances