Benefits available to senior citizens under income tax

Benefits available to senior citizens under income tax The Indian income tax laws provide certain tax Benefits available to senior citizens. Let us discuss those benefits. 1. Higher Basic Exemption Limits for senior citizens under income tax 2. Higher Deduction limit under Section 80D for senior citizens under income tax 3. Higher Deduction Limit for […]

Benami Transaction and Sham Transactions

Benami Transaction and Sham Transactions Prohibition of Benami Property Transactions Act, 1988, an act promulgated to prevent and prohibit “Benami” transactions in India on 5th September, 1988. The Act, 1988 has only 9 Sections and not so effective, while preventing and prohibiting “Benami” Transactions. The Act, 1988 previously called The Benami Transactions (Prohibition) Act, 1988.

How to open post office time deposit scheme

How to open post office time deposit scheme The post office time deposit is an alternative to the bank fixed deposits (FD) for those looking for fixed income. It is safer than an FD because the principal invested and interest earned are backed by the sovereign guarantee. Whereas for bank FDs, under the deposit insurance […]

Things to consider before spending your money

Things to consider before spending your money Influencer marketing is the new buzzword in the marketing circles. Companies are spending money a substantial amount of their marketing budget on social media Pied Pipers to put a good word about their products/services to their digital followers. It is targeted, easy to deploy, and uses the age-old […]

Income tax department cautions TDS deductors against quarterly filing default

Income tax department cautions TDS deductors against quarterly filing default The Income Tax Department (ITD) today cautioned TDS deductors to adhere to the stipulated deadline of May 31 for filing their statements failing which they would invite a penalty of Rs 200 for each day of default.