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Tax-Saving Investments Under Section 80C: Investments are pivotal in one’s wealth creation journey. Saving on taxes while investing helps to maximize finances and acts as an incremental delta. Section 80C of the Income Tax Act, of 1961, is one of the most popular and widely used sections for tax-saving purposes in India. It allows individuals…
New Delhi: SBI Research in a report has advocated for quicker review of the Income Tax Act as announced in Budget 2024-25.The report recommended that the revised Act be introduced as a money bill so that it can be passed within stipulated 75 days. This will not only simplify and streamline taxation process but also…
New Delhi: The government has relaxed provisions of TDS/TCS in the event of the death of the deductee/collectee before the linkage of PAN and Aadhaar card. TDS is Tax Deducted at Source and TCS is Tax Collected at Source in India. The Central Board of Direct Taxes (CBDT), has issued a circular dated August 5,…