Income Tax on Fixed Deposit / Savings Interest Income TDS on Savings Account Banks do not deduct TDS (Tax Deducted at Source) on interest earned from savings accounts. According to Section 80TTA of the Income Tax Act, if you are an Indian resident aged 60 years or less, interest earned up to Rs.10,000 in a […]

Restricted Stock Units (RSU): Meaning and Taxation Understanding RSUs A restricted stock unit (RSU) is a form of employee compensation where an employer grants shares of its stock to an employee. However, the employee can only sell these shares after a predetermined vesting period.   Vesting and Taxation of RSUs: When RSUs vest, the fair

Form 12B – Change of Employment What is Form 12B? Form 12B is a document that contains information about your income and the tax deducted by your previous employer. If you change jobs during the same financial year, it is mandatory to submit Form 12B to your new employer. This helps the new employer calculate

Frequently Asked Questions for Individuals, HUF, AOP, BOI Documents are to be enclosed along the Income Tax Return There is no need to enclose any documents with the return of income. However, one should retain the documents to produce before any competent authority as and when required in future.   Disclose all my income in

FAQs on New Tax Regime Vs Existing Tax Regime New Tax Regime Budget 2020 introduced the new tax regime where the Individual and HUF has to declare the choice at the time of filing of the income tax return from FY 2020-21   The New Tax regime has lower tax rates in comparison to the

Essentials for filing Income Tax Returns Taxes in India is categorized as Direct and Indirect taxes. Direct tax is a tax that you pay on your Income directly to the government. Indirect tax is a tax that somebody collects on your behalf and pays to the government   Income tax return forms range from ITR