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Sovereign gold bonds premature withdrawal: Investors holding SGBs issued earlier can redeem them prematurely in May with potentially attractive returns due to rising gold prices. How much tax will you have to pay if you withdraw prematurely? Should you withdraw your sovereign gold bonds early? ET Wealth Online explains the nitty-gritty of premature withdrawal of sovereign gold bonds and the key aspects an investor must consider before going for it.

Sovereign gold bonds premature withdrawal: Investors holding SGBs issued earlier can redeem them prematurely in May with potentially attractive returns due to rising gold prices. How much tax will you have to pay if you withdraw prematurely? Should you withdraw your sovereign gold bonds early? ET Wealth Online explains the nitty-gritty of premature withdrawal of sovereign gold bonds and the key aspects an investor must consider before going for it.

You must declare to your employer this month which tax regime you wish to adopt, and accordingly, TDS will be deducted from your monthly salary. If you do not specify the regime you wish to choose, your employer will compute taxes as per the new regime rates, as it is the default regime 2023-24 onwards.

Various experts have varied views about Form-71 which is used by individual taxpayers to claim TDS credit if it was not deducted in the year when the income was generated. At present a duly filled up Form 71 is submitted online and then the AO checks the claim and either grants or rejects the TDS credit.

There are usually two types of bank accounts that are operated by an NRI in India. These are NRE and NRO bank accounts. The money lying in NRE bank account is easily remitted by an NRI outside India. However, the same cannot be said for the NRO bank account. There are certain rules that an NRI must comply with before making transfer either to overseas bank account or to NRE account.

Multiple corporate and some government employees would have received their Diwali bonus. Further it is not always necessary to receive Diwali bonus in cash. There are multiple other avenues to receive Diwali bonus like e-voucher, gift card and pre-paid gift cards issued by banks. Know the income tax implications of receiving Diwali bonus through each of the instruments.

By Suzanne Pender ONE of the county’s most prominent advocates for climate action has been awarded for her work. Carlow County Council’s climate action co…

An individual can take advantage of income tax departments pay later feature to first file his income tax return (ITR) and pay the self-assessment (if any) at a later date. However this option comes with its owk risks like possible consideration of assessee in default, interest, etc.

If an individual is having income from business or profession for FY 2022-23 (AY 2023-24) and want to opt for or opt out of the new tax regime/ old tax regime, they need to file Form 10-IE before the deadline for ITR filing i.e. July 31, 2023 or October 31, 2023 (for audit cases).

Consumers balance high rates of both enthusiasm and concern about battery-powered vehicles.