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Form 15G or 15H has to be submitted by fixed deposit holders at the start of a financial year to the relevant financial entity like a bank. This is done to avoid TDS (tax deducted at source) on the interest income earned. For FY2019-20, as there is no tax payable i.e. if taxable income does not exceed Rs 5 lakh, […]
Under Section 80C, 80CCC & 80CCD, you can reduce your taxable income. Each financial year, we look for ways to save our taxes when filing them. But first, to know what the tax Deduction of 80C, 80CCC & 80CCD you can claim as a taxpayer. As taxpayers, the most widely known tax-saving option is under […]
After successfully filing of your income tax return, the next step is to verify it. The Income Tax Department starts processing your return once it is confirmed. One has to verify your ITR. Otherwise, your tax filing will be considered invalid. Currently, the best way to verify your ITR is the online/electronic method. Refunds, if […]