Tax Talk: NRIs must update status on PAN financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
According to Section 208 of the Income-tax Act, any individual with an estimated tax liability of Rs 10,000 or more for the year is required to make advance tax payments in four tranches, with the third part falling due on December 15.
Providing evidence of investments and expenses eligible for tax deductions is a crucial responsibility. However, it is of paramount importance to refrain from submitting false claims or incomplete documentation, as it could lead to potential complications and issues.
INCOME TAX RETURNS: Know when to discard returns financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
Multiple corporate and some government employees would have received their Diwali bonus. Further it is not always necessary to receive Diwali bonus in cash. There are multiple other avenues to receive Diwali bonus like e-voucher, gift card and pre-paid gift cards issued by banks. Know the income tax implications of receiving Diwali bonus through each of the instruments.