Hi I am a salaried professional My taxable income for year FY 2015 16 was 721 000 as per form 16 IT file was done for this amount Nowin FY 2016 17 as of Oct16 I have received salary of 4 5 lakh as of now tds deducted My current bank balance is 10 000 LIC
In terms of bonds, an MAI portfolio typically focuses on longer duration bonds that offer higher yields than cash. As bond prices tend to rise when yields fall, these bonds provide a hedge against declining interest rates while delivering steady income. By spreading investments across multiple inco...
Your bank account's cash deposits and withdrawals exceed ₹10 lakh in a financial year. You have deposited an aggregate of ₹1 crore in your current bank accounts. You have spent more than ₹1 lakh in electricity bills in one financial year. You run a registered company or firm. (No...
Another reminder that has been in place since 2018: 1040A and 1040EZ have been eliminated. For the 2023 tax season, tax rates are the same but income brackets have changed slightly to account for inflation. Also, there are changes for deductions that you are able to claim on your 2022 ...
CIT Bank is an online bank which offers competitive interest rates on its multiple products Earn many times more than the national average interest rate by keeping your cash and other savings in one of CIT Bank's banking products Open Your CD ...
and any profit made through another investment type. Investment income also includes interest earned on bank accounts,dividendsreceived from stock owned by mutual fund holdings, and the profits on the sale of gold coins.1Long-term investment income undergoes different—and often preferential—tax treat...
Disposable income in both countries includes take-home wages and salaries (including meals, housing, or bonuses), net business income, net property income, and pensions and other cash benefits. In the case of India, ‘wages’ refers to take-home income, while in China there is more detailed...
Tax loans offer several advantages, including: Quick access to funds: Because tax loans are based on your estimated tax return, you can quickly get the cash you need without waiting days or weeks for the loan to be approved. No collateral required: You don’t need any form of collateral ...
Paying off debt can reduce interests on loans. In the long run, this is a good means to saving money. 11. Save for Retirement Upfront Time InvestmentUpfront Money InvestmentPotential Earnings A retirement fund is the ultimate passive income stream, you'll just have to wait a while to cash...
Ordinary income comes in two forms: personal income andbusiness income. Personal ordinary income can be defined as cash inflow subject to the standard marginal income tax rates and defined by the Internal Revenue Service (IRS). For businesses, ordinary income is generated from regular day-to-day...