Public Provident Fund is a Government-backed saving scheme which also offers tax-rebate under section 80C. The interest payable on PPF account is revised and paid by the government for every quarter. For October – December Q3 FY 2024-25, the applicable interest rate is 7.1%. PPF accounts can be opened with nationalised banks, major private banks such…
Sukanya Samriddhi Yojana is a small saving scheme regulated by the Indian Government for the welfare of the girl child. The accounts under Sukanya Samriddhi Yojana can be opened with different banks in India. These banks are given the authority by the Indian Government to open SSY accounts with a minimum deposit of Rs.250. The…
In light of the extraordinary situation resulting from the COVID-19 lockdown measures, the Finance Department has released an ordinance on 31st March 2020 providing relaxation in various aspects of the Direct and Indirect Tax regimes. One of these announcements extends tax saving investments for FY 2019-20 till 30th June 2020. This can greatly benefit many…
In case you have to e-file your taxes on the official Income Tax e-Filing portal or access the various services available on the e-filing website, you have to register and log into the portal using your user id (PAN/Aadhaar/Other user ID) and password. Unfortunately, this is not possible in case you have forgotten your e-filing…
The Income Tax Act, 1961 (IT Act, 1961) provides various tax benefits to reduce the tax burden in case expenses are incurred towards medical expenses for self/family or if the tax assessee or his/her dependant is disabled. These tax deduction benefits are specified in Section 80DD, Section 80DDB and Section 80U of the IT Act,…
UPI (Unified Payments Interface) has transformed the digital landscape. This is now one of the most popular modes of payment. As digital payments increase, there is a higher risk of falling prey to scammers and fraudsters. We must take necessary precautions to keep our UPI payments safe and secure. UPI fraud refers to the fraudulent…
