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How to show in ITR: EPF contribution above 2.5 lakhs

The interest on any contribution above Rs. 2.5 lakh by an employee to a recognized provident fund is taxable effective from 1st April 2021. This means that a person contributing up to Rs 20,833 a month to PF i.e has a basic salary of up to Rs 1.73 lakh a month will...

Fixed Deposit , Interest , TDS, Tax,Income Tax Return, Refund

We have got many queries on fixed deposit and request on writing about fixed deposit only from perspective of income tax return. So this article is answers to questions: Is Fixed Deposit interest taxed? Is TDS deducted? Do I need to pay tax if TDS is deducted? How to...

Compound interest: How it can be your friend or your enemy

What would you choose Rs 100 a day or Rs 1 on the first day doubling the next day? Albert Einstein is credited with the statement compounding is the eighth wonder of the world, He who understands it earns it… he who doesn’t… pays it.  Simple interest...

What is Bank?

We should live and enjoy today but also work and save for tomorrow. Saving is to put money aside. Usually, people save money in the bank. A BANK is a place that looks after people’s money for them and keeps it safe. It also lends money to people to help them buy...
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