Bindisha Sarang

"The scheme, which will be effective from October 1, 2024, aims to resolve pending income tax disputes under the Finance Act, 2024," says Mumbai-based chartered accountant Suresh Surana

To make the division legally binding, the partition deed must be registered with the relevant authority

More and more Indians are buying apartments rather than living on rent

The e-DRS offers a faster and more cost-effective alternative to traditional litigation

Long-term tax-saving FDs can also be considered after the PPF limit has been exhausted.

Now, let's explore what the OCI status means, the investments OCIs can make in India, and how they are taxed

UPS merges elements of defined contribution and defined benefit. Under NPS, employees contribute 10 per cent of their salary while the government contributes 14 per cent

They sometimes misuse personal information collected during tax preparation, leading to identity theft or unauthorised financial transactions

NRE accounts allow NRIs to manage foreign income with seamless transfers to India. The interest income is tax-exempt in India

Maintain detailed records of foreign remittances, including purpose, amount, and beneficiary details

Stock investors must focus on finding quality companies available at reasonable valuations

Market volatility is inevitable; staying focused on long-term goals is key to navigating it successfully

Here are strategies borrowers looking to escape a debt trap can adopt

Taxpayers should, in the first place, file accurate returns annually, declaring income from all sources

Since PPF is a government-backed scheme, it offers full capital protection and guaranteed, risk-free return

A taxpayer who does not revise their return within the stipulated deadline would be stuck with the original return, including its errors

Submitting a late return helps you stay compliant with tax regulations and avoid legal issues

Here's a guide to help you complete your ITR on time

Be cautious, taxman could still come after you for wilfully withholding information

Over two-thirds of individual taxpayers opted for new structure in FY24