All Things Tax

Navigate the tax maze with ease! Uncover income tax 101, demystify jargon with terms for beginners, and choose between old or new regimes. Explore 2023-24 slabs, master declarations, and embrace tax planning. Calculate your taxable income like a pro and kickstart your tax-saving journey!

6 Seasons

Season

Income Tax 101 Salaried

Explore income tax for Indian salaried individuals! Navigate through income tax terms, decode Old vs. New Regime, explore 2023-24 slabs, and master...

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E01: Income Tax Terms for Beginners

03 mins

This video briefly explains essential income tax terms for beginners which could facilitate a seamless tax-filing experience. Some of the terms discussed in...

E02: Old and New Tax Regime: A Comparison

03 mins

The Old and New Tax Regimes present distinct frameworks for taxation of income. Under the old regime, taxpayers benefit from various exemptions and exemption...

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Bites

What is the difference between AIS and Form 26AS 98 views

Do You Know About These Changes to Your ITR Forms 48 views

What is Form 10 IEA 97 views

ITR Filing Ke Liye PAN-Aadhaar Linking Mandatory Hai! 735 views

5 FAQs on ITR Filing for Salaried Individuals 232 views

Do You Know What Is the ITR Filing Portal 2.0? 705 views

How to File Your ITR in a Few Easy Steps 276 views

Here's How to Verify Your ITR 79 views

9 Mistakes to Avoid While Filing Your ITR 102 views

Do You Know What is Form 16? 71 views

Season

Income Tax Planning Salaried

Income tax planning for salaried people involves optimising taxes through deductions, investments, and exemptions...

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E01: Tax Planning: Objectives & Advantages

03 mins

Learn the significance of income tax planning, its role in minimising tax liabilities, optimising investments, and ensuring legal compliance...

E02: How to Calculate Your Taxable Income?

04 mins

Navigating tax season requires a grasp of taxable income calculation. Deductions like life insurance premiums, NPS contributions, health insurance...

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Bites

Tax Deductions on Donations Towards Scientific Research 85 views

Disability and Tax Deductions 47 views

Treatment of Specified Diseases and Tax Deductions 38 views

Life Insurance Policies & Taxation 58 views

NPS Contributions & the Subsequent Deductions 91 views

Tax Deduction on Donations 42 views

Bachao Tax on EV Loan Interest 46 views

Tax Benefits on Education Loan 51 views

Why is Tax Planning Necessary? 36 views

Season

Last-Minute Tax Saving Hacks

Uncover last-minute tax-saving hacks. Invest wisely, dodge pitfalls and optimise investments. Leverage real estate perks, donate, maximise medical deductions, and explore niche investments for swift tax benefits.

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E01: Last-Minute Tax-Saving Investments: Where to Put Your Money

03 mins

Minimise your tax liability through last-minute tax-saving investments. Options include ELSS, PPF, NPS, ULIPs, NSC, tax-saving fixed deposits and so on. ELSS for potential high returns in a 3-year lock-in, PPF for stability with a 15-year commitment, and NPS for dual benefits with a longer lock-in. Additionally, ULIPs for combined insurance and investment, and Tax-saving Fixed Deposits/NSC for low-risk, fixed returns. Assess your risk tolerance, investment horizon, and liquidity needs. Always consult a financial advisor for stress-free decisions. Choose wisely to maximise savings as the financial year-end approaches.

E02: Common Tax-Saving Mistakes To Avoid Before The Financial Year Ends

03 mins

With the financial year-end approaching, it's crucial to avoid common tax-saving mistakes. The first concern is inadequate documentation, emphasising the importance of maintaining accurate records to maximise deductions. The second concern addressed are the pitfalls of hasty investment decisions and recommendations of strategic planning aligned with financial goals. Lastly, compliance issues are stressed, emphasising the need to stay informed about tax laws to avoid penalties. A proactive approach, including organised documentation, thoughtful investments, and compliance, ensures a smooth and successful tax season, maximising savings and minimising stress.

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Bites

Quick Guide to 2024 Last-Minute Tax Planning for Indians 285 views

Tax Hacks Creative Approaches to Quick Investment Benefits 147 views

Wealth and Wellbeing: Maximising Tax Benefits on Medical Expenses 168 views

Last-Minute Giving Charitable Contributions for Tax Relief 81 views

Real Estate Revelations Overlooked Tax Benefits in Late Investments 137 views

Strategic Savings Calculating Your Ideal Tax-Saving Investment 39 views

Steer Clear of Mistakes: Last-Minute Tax-Saving Pitfalls 101 views

Eleventh Hour Tax Saviours Quick Investments for Indians 25 views

Season

TDS for Salaried Individuals

TDS (Tax Deducted at Source) for salaried individuals: Learn the meaning of TDS, deduction process, and TDS on salary. Minimise impact, claim TDS refund, and ensure accurate tax filing.

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E01: TDS 101 What You Should Know

02 mins

TDS stands for Tax Deducted at Source. It is a system introduced by the Income Tax Department of India to collect taxes directly from the income source. TDS means that tax is deducted when you earn income, such as salary, interest, or rent. Employers, banks, and companies deduct TDS and pay it to the government, ensuring a steady revenue flow and reducing tax evasion. You receive a TDS certificate, called Form 16, from your employer, detailing the income earned and TDS deducted. This helps you accurately file your income tax return.

E02: TDS on Salary Explained What Every Employee Should Know

03 mins

TDS, or Tax Deducted at Source, is deducted from your salary by your employer to fulfil tax obligations. Calculated based on annual income minus exemptions and deductions, TDS ensures smooth tax compliance. Form 16, provided by your employer, details salary and TDS deducted, aiding in income tax return filing. Incorrect TDS calculation could lead to interest payments or refunds. Familiarising yourself with legal deductions like 80C, 80D, and HRA could reduce TDS on salary, optimising tax liabilities. Understanding and leveraging these provisions could minimise net taxable income and TDS.

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Bites

TDS Refund Follow Your Money Trail 89 views

Season

Income Tax 101 for Self employed

Explore a comprehensive guide on income tax for self-employed Indians through this series of engaging videos. Understand the differences between various forms and get answers to common questions to streamline your online ITR filing experience.

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E01: ITR for Self employed Individuals Explained

03 mins

As a self-employed individual, you're responsible for filing your ITR. Hence, it’s crucial to have a comprehensive understanding of the different ITR forms. These include ITR-2 for individuals with income from extra sources, ITR-3 for proprietary businesses, and ITR-4 for presumptive taxation. Moreover, you need to be extra careful when calculating your taxes. Keep your documents ready and complete your online ITR filing by the set date to avoid penalties.

E02: Comparing ITR 3 and ITR 4 Which One is Right for You

04 mins

Choosing the right ITR form between ITR-3 and ITR-4 can be confusing for self-employed individuals in India. ITR-3 caters to businesses and professionals who maintain detailed income and expense records. It's ideal for shopkeepers, consultants, freelancers, etc. ITR-4, on the other hand, simplifies ITR filing for those falling under the presumptive taxation scheme. This scheme estimates income based on business turnover, making it suitable for small businesses with basic records.

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Bites

5 Questions on ITR Filing for Self employed Answered 144 views

Key Documents Required to file ITR 3 and ITR 4 75 views

Season

TDS for Self employed Individuals

Learn TDS essentials for self-employed individuals: understand 194C TDS rate, TDS on rent, 194Q TDS, TDS on property sale, how to pay TDS online, and TDS deduction on FD.

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E01: Deciphering TDS Deduction on Fixed Deposits

02 mins

TDS deduction on fixed deposits (FD) occurs when the interest earned on an FD exceeds Rs.40,000 in a financial year. In such cases, banks automatically deduct 10% TDS (Tax Deducted at Source) from the interest. For instance, if the interest is Rs.45,000, the bank deducts Rs.4,500 as TDS, and you would ideally receive Rs.40,500. The deducted TDS is sent to the income tax department. If your total income is below the taxable limit, you could claim a refund by filing an income tax return. Understanding TDS on FD is crucial for effective financial planning.

E02: Unravelling TDS Rules Section 194C Explained

04 mins

Section 194C of the Income Tax Act, 1961 mandates TDS deduction on payments to resident contractors or subcontractors by entities like governments, companies, and co-operative societies. The 'work' includes activities like broadcasting, advertising, and catering. TDS rates under Section 194C are 1% for individuals/HUFs and 2% for other entities, with a 20% rate if the PAN is not provided. TDS must be deducted if a single payment exceeds Rs.30,000 or total payments in a year exceed Rs.75,000. Timely TDS deposit is essential to avoid complications. Understanding 194C TDS rates and deduction rules could ensure compliance and avoid future issues.

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Bites

How to Easily Pay TDS Online 60 views

Seasons

All

Income tax is calculated based on your taxable income, which includes salary, allowances, and deductions. Your employer deducts TDS (Tax Deducted at Source) each month.

Invest in tax-saving options like Provident Fund, National Pension Scheme, or insurance. These deductions could lower your taxable income, reducing your overall tax liability.

Yes, exemptions like House Rent Allowance (HRA), Leave Travel Allowance (LTA), and standard deduction could reduce your taxable income.

Tax planning helps you organise your finances to minimise tax liability. Utilise deductions, exemptions, and investments wisely to optimise your overall financial strategy.

Yes, you could use online platforms to file your income tax return. It's convenient, secure, and ensures compliance with tax regulations. Make sure your documents are ready before starting the process.

Bajaj Finserv Direct Limited ("Bajaj Markets") offers to its customers, various financial products and services through its digital platform as a registered Corporate Agent with IRDAI, registered Investment Adviser with SEBI, registered Third-Party App Provider (UPI payments), and as DSA or Digital lending platform of its Partners. Further, Bajaj Markets also offers a marketplace e-commerce platform to facilitate transactions between customers and sellers on-boarded on the platform. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522 Corporate Agency (Composite) Registration no.CA0551 (valid till 10-Apr-2027) Investment Adviser, SEBI registration: INA000016083 (Validity - Aug 11, 2021 - Perpetual)