From tax-saving tips, ways to manage your loan to personal finance — this is the ultimate finance blog for all your queries.
The taxable income slabs divide the taxpayers into different categories and assign them different tax rates. These categories depend on the age of the taxpayers, as mentioned below: These slabs also vary depending on the regime you opt for. By knowing these slabs and the tax rates, you can plan your finances and taxes accordingly. …
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There are different types of assessment in income tax, ranging from self-assessment to income tax escaping assessment. You need to be aware of these various assessment types and how they work to comply with the taxation rules. Read on to learn what is assessment in tax and its types. Income Tax Assessment Meaning After every …
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Understanding the rules for gratuity tax exemption is crucial for employees who may receive it. Any person who works in an establishment with more than 10 workers for 5 continuous years is liable to receive this sum on termination of employment or as a post-retirement benefit. In case of an employee’s disability, the condition for …
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As a taxpayer, it is important to know the deadline for income tax filing to avoid penalties and interest that you need to pay on the fine. These dates can help you create and stick to a timeline and sort out your finances. Generally, the last date for filing your tax for the financial year …
Continue reading “Last Date for IT Return Filing for FY 2023–24: A step-by-step guide”
Learning the steps to run a TDS check is crucial for all taxpayers. It allows you to manage your tax liabilities and file accurate returns. TDS, short for Tax Deducted at Source, is a part of income tax that employers, banks and other entities deduct before disbursing the funds to your account. The tax deductors …
On assessing the key facts about a loan, you may find yourself wondering, ‘What is a moratorium period?’. Simply put, it is a facility for managing your repayment during tough times. It comes into play when you are unable to pay your EMIs and it can offer some respite. Here, you don’t have to pay …
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Credit control is an essential part of the lending process, used by all financial institutions to mitigate the risk of extending credit. Under this strategy, financial institutions lend funds only to applicants with good credit behaviour and scores. Doing this helps them manage cash flow and the risk of default. To implement this strategy, lenders …
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Do you know how the repo rate increase affects your personal finances? When you apply for a loan, lenders levy an interest rate. However, this isn’t a random number but a carefully calculated rate based on the prevailing repo rate and the institution’s policy. Here are some essential points that you need to know: What …
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With many convenient options available, you can effortlessly make an online loan payment. This is because modern financial service providers allow you to manage your loan EMI online. As such, you can pay easily through multiple online options at your convenience. You can use a lender’s portal or third-party payment apps to conveniently: Knowing about …
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A credit bureau plays the critical role of collecting and analysing the financial data needed to generate your credit report and score. This is the simplest answer to the question, “What is a credit bureau?”, and four bureaus are operating under the RBI’s guidelines. These credit bureaus have different methods to calculate your score, and …
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