30 June 2018 - Wealth18.com

Jun302018 by wealth18.comNo Comments

How to Avoid TDS on Interest on Fixed Deposits (Bank FD)

Bank Fixed deposit is an all-time favourite investment in India as it provides a decent fixed return for the fixed period and relatively safer as compared to other forms of investment products. Specially, in current interest rate scenario, the fixed deposit rates are quite lucrative (8.5 – 10%). However, it is likely that rates will go down further, so it is advisable to lock-in your interest rates if you want to invest in FD for longer term. Banks are required to deduct Tax (TDS) @ 10 % if the interest earned on FD exceeds Rs 10,000 in a financial year. This could have a significant impact on the amount received at maturity. I am sure that everyone wants to save tax and to avoid any deduction from their hard earned money. Most common queries, I received from friends are: My Ban...

Jun302018 by wealth18.comNo Comments

Section 80TTA – Tax deduction for Interest on Savings Bank Account upto Rs 10000

Taxation

As per Section 80TTA of Income Tax Act 1961, Individuals & HUF can claim deduction upto Rs 10000 for Interest earned on their Savings Bank Accounts. Summary of Section 80TTA of Income tax Act 1961 Through Finance Act, 2012, section 80TTA under Income Tax Act, 1961 is introduced to give additional income tax deduction upto Rs 10000 for Interest on Saving Account with Bank, Co-operative Bank or Post Office. The section is applicable with effect from April 01, 2013 and will apply from AY 2013-14 and onwards. Only Individual and HUF are eligible to claim deduction under this section. As, nowhere in the section mentioned that this benefit is available for Residents Only. So, it is assumed that even NRI can claim this benefit. (on their NRO Interest) Points to Note 1. Interest earned f...

Jun302018 by wealth18.comNo Comments

[How to] open ITR V – Password to open ITR Acknowledgement Form

Taxation

If you are filing online Income Tax retuns & not using Digital Signature, you need to take print of ITR V (Acknowledgement), sign it & send it by post to IT Processing Centre. Once you submit your return, ITR V is emailed to your on your registered email. Else, you can downoad the ITR V or ITR Form via Income Tax efiling website. After Login , Go to My Acount --> My returns / Form --> Cick on Acknowledgement Number However, ITR V pdf file is passwod protected. To open the PDF, please enter your PAN in lower case and date of birth in DDMMYYYY format without any space between the PAN and date fields. For example, if your PAN is ABCDE1234A and date of birth / incorporation is November 17, 1985 then the password will be abcde1234a17111985 . You need to send ITR V to “Income T...

Jun302018 by wealth18.comNo Comments

Rites Limited IPO – Allotment Status, Allotment, Listing Date, Analysis, Details, Review,Issue Price

Stocks

Rites IPO Allotment Status - You can check Rites IPO Allotment Status here. To check the allotment, you will need wither your PAN number or Application No., or DP/Client ID : https://linkintime.co.in/ipo/public-issues.html The company after consultation with book running lead managers has fixed final issue price at Rs 185 per share. RITES is going to list its equity shares on the BSE and NSE on Monday, July 2, 2018 [xyz-ihs snippet="ad1"] Update (Day 3) : Issue Overall oversubscribed 67 times - Retail quota over-subscribed 55.52 times. Qualified institutional buyers (QIBs) quota was subscribed at 71 times , non-institutional investors 194 times. Update (Day 2) : Retail quota over-subscribed 5.59 times. Qualified institutional buyers (QIBs) quota wa...