Bindisha Sarang

If you own an EV, buying a battery-protection add-on would be prudent

If your income exceeds 15G/15H limit but you qualify for tax deduction at a lower rate, use Form 13

Non-linked policies must be availed of by that deadline to earn tax-free return without cap

Provisions in the law allow your parents, spouse and siblings to maximise your tax returns

If electric vehicle is for personal use, avail deduction on interest paid; if for business purpose, treat as expense

If you miss the date, penalty will be levied at a simple interest rate of one per cent per month or part of a month

They could invest in SCSS in tranches to optimise Sec 80C benefits and park some money in PMVVY before it closes on Mar 31

Not allocating adequately to equities, which can potentially beat inflation, is another error they must avoid

If you realise you have been mis-sold an insurance policy, cancel it within the 15-30 days free-look period

Many deductions available to resident Indians are not available to NRIs

Prepare an agreement, pay rent into their bank accounts, and ensure they pay tax on it

What happened in the 2014 amendment? What did the Supreme Court say in its judgement? And above all, are you eligible for the scheme? This explainer tries to answer all these queries

With premature withdrawal being difficult, opt for it if you won't need the money till retirement

Preventive check-up is one available to save tax based on medical-related issues

Maintain adequate allocation for equities in long-term portfolios for financial security

Higher limits are positive, but remember you must stick to scheme for 5 yrs

Avoid extending the tenure while transferring as this will nullify the gains

Tax exemption on leave encashment is only available at retirement, resignation or termination

Higher TCS is temporary; you can adjust it against your tax liability or get refund

But high-income individuals who avail of a variety of deductions will still prefer the old regime