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Salaried but have sizeable other incomes? You have to pay advance tax

NRIs with income in India above Rs 10,000, post-TDS and tax treaty adjustments, must pay too

Report accurate land or building area to avoid assessment disputes

Preserve ownership and renovation documents to bolster case regarding property value

Grievances for unextinguished tax demands can be submitted to CPC

Avoid doing so until April as CPC has been given 2-mth deadline for this task

NRIs should check their tax residency certificates for smoother compliance

Understanding tax residency rules and maintaining proper documentation is imperative to ensure smooth tax compliance

Deduct salaries of members from HUF income to lower its tax bill

HUFs can also claim tax benefits on home loan repayments, insurance premiums, and other tax-saving investments

Non-linked policies' tax-exempt premium: Rs 5 lakh individual limit

By purchasing policies in the name of family members, you can maximise tax benefits

Use laddering to average out returns, minimise reinvestment risks

Those keen to strike a balance between risk and reward may go for barbell strategy

Tax savings: Give loan, not gift, to spouse to avoid income clubbing

Documentation of the loan agreement is crucial to avoid treatment as gift

Use multi-asset allocation funds if you are a new investor in the market

Evolved investors should use the option only as part of diversification of funds

Use ITR 2 or 3? Be prepared to make more disclosures while filing return

Contributed funds to a political party? Have gains from cryptos? The taxman wants more details

Interim Budget withdraws certain small, disputed direct tax demands

No change in tax slabs, deductions, or exemptions announced

Decoding budget documents: How to zero in on tax changes that affect you

Wait for full budget to be presented before incorporating relevant changes into your financial and tax planning for next year

Trim your tax bill by doing this: Gift money, pay rent to your parents

An effective tax-saving strategy involves transferring funds to your parents, especially if they are in a non-taxable or lower tax bracket

Donate for a good cause, get tax benefit: Here is how to do that

Percentage of donated amount eligible for deduction may vary

NPS: Ambit of reasons for withdrawal expanded; use facility cautiously

Withdrawal made during tenure for other goals will erode retirement corpus

Claim your tax deduction on health checkup and specific treatments

Maximise savings by tapping into lesser-known deductions besides the one on health insurance premium

Homeowner can claim house rent allowance while living in rented house

If you pay rent to spouse or parents, maintain proof for HRA claim

Tax loss harvesting: Reduce tax liability, improve quality of portfolio

Transaction costs, price fluctuations may nullify the benefits of this exercise

Investment, insurance, taxes: Money moves you should make in 2024

The start of the year should be used to review and plan your financial assets and goals

Missed Dec 31 ITR deadline? Apply for condonation of delay at the earliest

Taxpayers may file an updated return after April 1