Tax Deductions

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

You can benefit under the new tax regime but there are a few caveats

CBDT tells I-T officials to nudge entities; move could help garner over Rs 5,000 cr

For investments made after proof has been submitted to the employer, claim refund in ITR

The move is aimed at improving reporting and transparency in these sectors

Meeting that deadline will allow you to claim refund on excess tax deducted

Those over 60 need not file ITR if any tax has been deducted under Section 194P

While the late fees for linking PAN-Aadhaar will shoot up, doctors and influencers will have to pay 10% TDS on the benefits they receive from sales promotions

Keep rent receipts that serve as proof handy should taxmen come calling

Ensure value of goods doesn't exceed Rs 20,000 to avoid TDS

From July 1, TDS of 1 per cent will be levied on payments towards virtual digital assets or cryptocurrencies beyond Rs 10,000 in a year

Exemption under Section 10(15)(i) can be availed in conjunction with 80 TTA or 80 TTB

Check the information therein carefully and get any error corrected before this deadline

To make use of Section 80DDB deduction, get a specialist's certification

A key positive of this deduction is that you don't have to wait until possession to begin claiming it

To avoid any last-minute errors, one must remember to use the correct ITR form, collate all relevant income and expense documents for quick referral

Tax dept plans to conduct over 500 survey operations to ensure compliance

Steeper TDS, TCS rates will apply from July 1 as new tax provisions kick in

While using the family to save tax is legal and smart, ensure you use the ones where clubbing income laws don't apply

If your health insurance premium is low, this provision can help you enjoy a higher deduction