articles by KR Gupta

Money

How are fixed deposits taxed? Here's everything you need to know

FDs will also be taxed at the same rate as the rest of your Gross Income is taxed at. This means, if you are in the 20% tax bracket, you will have to pay 20% tax on your interest income from FDs.

Money

Watch out, deferring advance tax can burn a hole in your pocket

The Income Tax department expects you to pay your taxes on time, otherwise you are charged interest for late payment, at the time of filing your returns.

Money

This is how IT dept calculates penalty on advance tax default

You need to pay at least 90 percent of your total advance tax liability before 31 March to avoid interest

Money

Why haven't I received my tax refund?

If you still haven't got your refund it's about time you took some action.

Money

10 reasons why you could land up with an income tax notice

Ignoring a notice from the IT department can prove to be expensive. Fines are usually imposed on assessees who do not respond to IT notices - these can be as high as Rs 10,000