If you are a working professional, you may have earned promotions and saved a lot of money over the years too. Now, it is time to start thinking of investing all the extra cash. And while you mull over your options, include this important aspect of investing while conducting your
Tax deducted at source (TDS) is the amount deducted at the source of the income. TDS on salary is deducted by the employers on your taxable earnings. Moreover, TDS on salary ensures the government collects the income tax from the source itself. What is section 192 of Income Tax Act?
Debt is considered among the safest investment classes for anyone with excess cash. The debt market comprises several financial instruments that enable the borrowing and lending of funds for interest. However, since debt is safer than other asset classes, it also offers lower returns. Nonetheless, it is an ideal investment
Before we talk anything about money market instruments, we need to understand what a 'money market' is? The money market is where short-term assets with a maturity of up to one year are traded. These assets are usually traded by institutions which can process high volume trades. These financial assets
Buying your home is one of the biggest achievements in life. However, it is also one of the most important financial decisions. Therefore, you should take your time and not rush into any decision. With the rising real estate costs, it is most likely that you may not have the
To reduce the tax burden and offer relief to taxpayers from multiple compliances, the Government of India incorporated a simplified scheme for businesses. Companies that opt for this presumptive tax scheme do not need to maintain regular books of accounts. The presumptive scheme allows taxpayers to declare income at a
Chapter VI A of the Income Tax Act, 1961 provides the details on the permissible deductions from your gross total income under sections 80C to 80U. According to section 80A, the permissible deductions cannot be more than your gross total income. Medical expenses are subject to taxes and can be
The Income Tax Act, 1961 offers several deductions and exemptions that allow you to reduce your taxes. Chapter VI A of the act lists down the various deductions that help you enjoy tax benefits. These deductions are available by putting money in different types of financial instruments. Such investments reduce
The government aims to reduce your tax liability by offering several exemptions and deductions through different sections under the Income Tax Act, 1961. If you plan your taxes well, these deductions and exemptions can help reduce your liability by a significant amount, especially if you are salaried. The most popular
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