​Tax free premature redemption of Sovereign Gold Bond (SGB) is allowed only within this 21-day annual window

Sovereign Gold Bond (SGB) premature redemption: If a SGB investor wants to prematurely redeem his/her SGB investment and also not pay any capital gains tax on gains from such a sale then the only way to do this is tendering one's SGBs to the RBI. However there is a time period between which SGBs may be tendered to the RBI for premature redemption.

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Tax saving ideas: Use these 6 financial, banking instruments to save taxes

With an emphasis on banking products, below are some financial instruments which can be used as investment and tax saving purpose.

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Tax-saving investments for senior citizens: Here are 4 ways to maximise your tax savings

Here are some of the ways senior citizens can lower their tax liability. (Do keep in mind that these tax benefits are available only for those who opt for the old tax regime.

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Are there any tax exemptions for the treatment of mental health issues?

Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.

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Income tax saving: How to get Rs 70 lakh from Sukanya Samriddhi Yojana by investing Rs 12,500 monthly, save tax

Income tax saving: Sukanya Samriddhi Yojana (SSY) can help you with a tax deduction of up to Rs 1.5 lakh under Section 80C of the Income-tax Act, 1961. It offers an attractive interest rate of 8.2% for the January to March quarter of 2024. What are the benefits and limitations of SSY? ​​​How much money can you make from this popular post office scheme?

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How to switch from new tax regime to old tax regime for FY23-24

Change income tax regime: At the start of the financial year, an individual is required to select one tax regime - old or new- for deducting of taxes on salary by employer. However, it may happen that an individual wants to switch the tax regime from what was opted in the start of the financial year. The income tax laws allow such change. Here is how to go about it.

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Up to 7.9% interest rate on tax-saving FDs: Latest senior citizen tax-saving FD rates of private, PSU banks

Tax saving fixed deposit provides a tax deduction under Section 80C of the Income Tax Act, 1961 of up to Rs 1.5 lakh annually. Here is a look at the interest rates offered by private and public sector banks on five-year tax-saving FDs.

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Three ways to invest in HDFC Bank tax-saving FDs

How to invest in tax-saving FDs: Individuals and Hindu Undivided Families (HUFs) are eligible to open tax-saving bank FDs. You have the choice to open a tax-saving FD either with a bank where you currently maintain a savings account or opt for another bank altogether.

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11 ways of tax savings for salaried individuals for FY 2023-24

11 tax deductions for salaried individuals: If you want to save tax for FY 2023-24 then there is still time. Given below is a list of 11 tax deductions which you can claim upon fulfilling certain investment or other criterias. These tax deductions can help you lower your total income and hence reduce your tax outgo.

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NPS, LTA, other perks can cut income tax by Rs 71,467; know how

Under Section 80CCD(2), up to 10% of the basic salary put in the NPS on behalf of the employee is tax-free. Big tax savings are possible if your company gives you allowances such as LTA, gadget allowance. Sudhir Kaushik of TaxSpanner.com tells readers how they can optimise their tax by rejigging their incomes and investments.

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Wait for unprocessed income tax refund to get longer; deadline extended by 3 months

Income tax refund: Individuals who have pending income tax refund due to the fact that their income tax return (ITR) was not processed by the income tax department would now get their income tax refund by April 30, 2024. However not all individuals would get tax refund, read here to know who gets and who does not.

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Taxation time is here: Decode how you can realise the potential of multi-year health insurance in your portfolio

Multi-year health insurance plans offer tax deductions through lump sum premium payments. Proportional tax benefits are determined based on the policy's duration. Documentation and eligibility require non-cash premium payments. The convenience of multi-year coverage eliminates yearly renewals and provides financial predictability. These plans also come bundled with savings offers and can be budgeted using premium calculators.

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12 reasons why a right investment plan must not focus only on income tax deduction

The allure of immediate tax savings often overshadowed the importance of long-term goals leading to a lot of pain when the requirements actually arrived.

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