How to Calculate Advance Tax and Avoid Penalties in India
To run the country smoothly, the government needs a steady flow of revenue throughout the year. Since income tax is a major source of this revenue, relying on tax payments…
NPS Tier 1 vs Tier 2 – Which is Better for Your Tax Planning?
In 2004, the Government of India introduced the National Pension System (NPS) as a long-term savings scheme designed to provide individuals with financial security after they retire. Initially, only government…
NPS vs ELSS: Differences and Which is Better for Tax Saving?
Effective tax planning is a cornerstone of sound financial management. Among the various tax-saving investment options available in India, the National Pension System (NPS) and Equity Linked Savings Scheme (ELSS)…
Advance Tax Payment: Step-by-Step Guide to Calculate and Pay Online
When taxpayers' tax liability in a financial year exceeds a certain amount, they are required to pay tax in advance rather than wait until the end of the year. This…
Dividend Distribution Tax (DDT): Meaning, Rates and Calculations
Dividend-paying stocks, mutual funds, and ULIPs are popular ways for investors to generate a stream of regular income. Before 2020, dividend income was tax-free in the hands of investors because…
How to Claim Tax Benefits on Mutual Fund (ELSS)?
Section 80C of the Income Tax Act allows investors to claim a deduction of up to Rs. 1.5 lakh per financial year on investments such as the Public Provident Fund,…