Life is uncertain, and the COVID-19 pandemic has given a reality check to the entire world. Millions of people across the globe have lost their jobs and faced medical emergencies, leaving them with huge debt and monetary constraints. Financial challenges can significantly increase your stress levels. Therefore, saving for the
Form 16 is a certificate issued by employers to their employees. It shows that tax deducted at source (TDS) as per the government norms has been deducted on behalf of the employees. The form reflects a detailed summary of the total salary paid to the employees and the applicable TDS
Planning for your retirement in the present is important to avoid financial difficulties in the future. However, it may get difficult due to the rising inflation. Retirement may seem far away but planning for it immediately ensures you are financially stable in your golden years. You may choose from a
Your Aadhaar card is an important identity proof and comprises a 12-digit unique number, which cannot be assigned to any other individual. The Unique Identification Authority of India (UIDAI) has periodically introduced different forms of Aadhaar, such as Aadhaar letter, mAadhaar, and eAadhaar. What is a PVC Aadhaar Card?UIDAI
Income-tax-related terms can be confusing and have different objectives and meanings. TAN, PAN, and TIN are some common abbreviations you come across while contacting the Income Tax Department or filing your returns. Each of these terms has its subtle nuances and understanding these beforehand can simplify the tax-filing procedure. What
The National Pension System (NPS) was launched by the government in 2004, primarily for government employees. In 2009, it was made available to all citizens. You may invest in this pension scheme until retirement. When you turn 60 years old, you are allowed to withdraw 60% of the accumulated corpus,
These days, several people are affected by lifestyle disorders like diabetes, hypertension, and high cholesterol. Treating these ailments is expensive, especially with rising medical costs and inflation. Sudden hospitalization due to a medical emergency or a critical ailment may wreak havoc on your financial situation. You may also end up
Like most taxpayers, you may know about the tax benefit of ₹1.5 lakhs available under section 80C of the Income Tax Act, 1961. The investment options under this section include employee provident fund (EPF), public provident fund (PPF), life insurance premium, tax-saving fixed deposits, and many more. However, apart
The Income Tax Act, 1961 offers several benefits and deductions when you invest in certain financial products. Section 80C is a clause in the Act that lists the investments and expenses that are eligible for income tax deductions. The maximum deduction under this section is limited to INR 1.50
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