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10 Income Tax Rules which will Change from 1st April 2018

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The Budget 2018 failed to do much for taxpayers as well as the salaried class. However, some sections of society, particularly senior citizens, gained much from its proposals. Whatever be the case, as a taxpayer we need to be aware of the tax proposals of this year’s Union Budget as they are going to impact our earnings as well as the day-to-day lives from the upcoming financial year (2018-2019). Here we are taking a look at 10 such tax rules which will change from 1st April 2018. 1. Health and Education Cess The Budget 2018 didn’t make any changes in the tax rates or tax slabs for individuals and HUFs, which continue to remain the same for Assessment Year 2019-20 as applicable for AY2018-19. However, it has proposed a new cess – Health and Education Cess – which will be levied at the rate of 4% of income tax, including surcharge, in place of the current 3% Education, Secondary and Higher Education Cess from Financial Year 2018-19 onwards. 2. Reintroduction of standard
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How to check where all your Aadhaar card has been used in the last six months

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Paste the url 'https://resident.uidai.gov.in/notification-aadhaar' on your browser window Enter your 12-digit Aadhaar number in the requisite box, just below 'Aadhaar Authentication History'. Follow this with the 4-digit security code given below Now Click on link 'Generate OTP'. An OTP will come to the registered mobile number The page that will open will ask for the following information: Authentication Type; Select Date Range; Number of Records; and OTP.Now choose 'All' as option in the drop-down menu of the page that opens The 'Authentication Type' is a drop-down that will have options including Demographic, Biometric, All, Demographic & Biometric, Demographic & OTP and Biometric & OTP Choose the option 'All' here. In the 'Select Date Range', choose the option given on the page. Click on 'Submit' after choosing the number of months, you can select maximum up to six months Now fill in the
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How to Link Aadhaar Number, Mobile Phone Using IVR for Re-Verification

The ongoing Aadhaar-mobile SIM card re-verification process has just become a little easier for people across the country. Consumers can now simply dial a central number, regardless the network, to link their mobile number with Aadhaar number. This will bring a sigh of relief for consumers across the country, who only had the option to visit offline stores run by their operators to link the two till now. Now, they can use the IVR (Interactive voice response) service from their homes instead, cutting out the hassle involved in going to physical outlets. Consumers have till February 6 to link their mobile number with Aadhaar. How to link Aadhaar with mobile phone number If you want to re-verify your phone number by linking it to Aadhaar, the process is rather simple. You just need to keep your Aadhaar number at hand. Whether you are on Airtel, Idea, Jio and Vodafone or any other operator, you simply need to call the toll-free number 14546 from the phone number. Follow these step
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10 important things you need to know about tax saving fixed deposits

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As per the present income tax laws, under Section 80C of the income tax act, you can claim deduction for investments up to Rs 1.5 lakh in tax-saving fixed deposits. The amount so invested is to be deducted from gross total income to arrive at taxable income. Below are a few important points you should be aware of before investing in tax saving FDs. 1 . Only Individuals and HUFs can invest in tax saving fixed deposit(FD) scheme. 2. The FD can be placed with a minimum amount which varies from bank to bank. 3. These deposits have a lock-in period of 5 years. Premature withdrawals and loan against these FD's are not allowed. 4. A person can invest in these FD's through any public or private sector bank except for co-operative and rural banks. 5. Investment in Post Office Time Deposit of 5 years also qualifies for deduction under section 80 (C) of the Income Tax Act, 1961. 6. Post Office Fixed deposit can be transferred from one Post office to another. 7 One ca
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