Income tax returns Filing is a crucial responsibility for every taxpayer. With the introduction of the new tax regime, taxpayers now have a choice between sticking to the old tax system or opting for the new one. Both tax regimes have their pros and cons, making it essential for taxpayers to understand the differences and…
Every quarter, the Public Provident Fund (PPF) announces its predetermined rate of return, which is now 7.1%. PPF investments worth up to Rs 1.5 lakh per year are exempt from taxation under Section 80C of the Income Tax Act. Both the yearly interest and the maturity sum are tax-free. The account has a 15-year validity…
If you file Income Tax Return (ITR) every year, then this news is of your use. This time, before filing ITR, definitely take a look at the changes made by the Income Tax Department. Income tax return forms for the financial year 2021-22 (Assessment Year 2022-23) have been issued by the Income Tax Department. This…
The Goverment has kept the interest rates on small savings schemes like the PPF unchanged. That means for the quarter ending September 30, 2022 the PPF will earn an Interest rate of 7.1%. The Public Provident Fund (PPF) scheme, created in accordance with the Public Provident Fund Act of 1968, is a long-term investment plan…