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Income-tax filing: Should you file your returns in April or wait until July 31?

Early filing means faster processing and quicker tax refunds. However, only a few categories of taxpayers can file their returns now. ....

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Buy phone, car through flexi benefits plan route for extra saving

Flexible Benefits Plan (FBP), though, is available only under the old tax regime, which allows an individual to claim deductions and exemptions under various sections of the income tax Act. ....

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Filing proposed investment declarations in April? Choose your income tax regime wisely

You must declare to your employer this month which tax regime you wish to adopt, and accordingly, TDS will be deducted from your monthly salary. If you do not specify the regime you wish to choose, your employer will compute taxes as per the new regime rates, as it is the default regime 2023-24 onwards. ....

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Tax planning for FY2023-24: Do's and don'ts for the last-minute tax saver

Despite the increase in awareness around the importance of incorporating tax planning into the overall financial planning strategy and starting early, many tend to put off the process until the last minute. ....

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Inconsistencies in advance tax notices? Here's what you should do?

Under the income tax rules, specified institutions are required to furnish SFT to the I-T department with the details of certain financial transactions or any reportable account registered/recorded/maintained by them during the year. ....

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