Category: Personal Finance & Tax
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Navigating through Form 26AS, Form 16 and AIS
The Income Tax Department knows all your financial transactions even if you don’t tell! How? Through three forms viz. The combined details from these Forms tell the Income Tax Department, all about your income, major expenses and investments. Let’s get into the nitty-gritty of each of these documents. Form 26AS Whenever tax is deducted from…
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Financial Checklist for Job Switch
Switching jobs for better pay or position? Before you start your new journey, refrain from committing these financial mistakes. Here is the Financial Checklist that you must check while switching jobs. EPF Account There is a very important EPF hack that you need to know about. If you withdraw your PF balance before 5 years,…
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Chapter VIA Deductions that you did not know about!
80TTA/80TTB: 80TTA is the deduction regarding to SB interest for the person aged below 60 years the limit on which deduction is Rs. 10,000/- or actual amount received whichever is less. 80TTB is for the person aged above 60 years, the limit of deduction is Rs. 50,000/-which also includes FD interest received from banks, cooperative…
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ESOP – Navigating the Tax Implications
If your CTC has an exciting but rather confusing component, it would definitely be ESOPs. Employee Stock Option plan allows you to become a shareholder of the company at a discounted price. But, this discount and shareholding impact your income tax return. Let’s find out how ESOPs will hit your income tax return. Basics First!…