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Oil prices surge 2% on falling dollar, demand hopes, and supply cuts. Brent settles at highest since April, WTI at highest since May

Even as 25 days are left to the ITR AY 2023-24 deadline, a significant number of income tax filers are yet to file the income tax return for the financial year 2022-23

The food or beverages served in a cinema hall is taxable as restaurant service

You can now link your PAN-Aadhaar by paying a late fee of Rs 1,000. After paying the late fee, the individual needs to wait 30 days to renew their PAN cards.

ITR-1 can be filed by an individual having income up to Rs 50 lakh and who receives income from salary, one house property and other sources (interest, etc)

Here are a few important things that first-time taxpayers should know before filing their ITR

ITR Filing: There shall be multiple combinations based on which the required ITR form shall change, therefore the filers have to be very careful.

GST Return: Businesses should ensure that the correct tax rates are applied to the transactions in GSTR-3B and GSTR-1.

Home Loan: Longer the tenure you have, the lesser will be your EMI but higher would be the interest outgo.

By accurately filing their tax returns, individuals and businesses can also avoid being audited by tax authorities.

After a series of repo rate hikes by the RBI since May 2022, the transmission to retail deposit rates gathered pace in the second half of the last fiscal after remaining subdued in April-September period

Pension received from the state or central government is fully taxable under “salary” in income tax returns.

The Finance Bill 2023 imposes the short-term capital gains tax on specified mutual funds (where not more than 35 per cent is invested in equity shares of domestic companies) that are bought on or after April 1, 2023

Consistent with the national trend of prioritising savings over protection, rural households prefer savings instruments over term insurance plans.

The EPF is open only for salaried employees in the private sector while the PPF is open to all in both organised and unorganised sectors

EPF scheme participants can withdraw amounts from their provident fund accounts by applying offline or online.