Section 245 of the Income Tax Act empowers the Income tax department to adjust any amount of refund due to the assessee with any previous outstanding tax liability.
Insurance is a contract of indemnity in which an individual or entity receives to hedge against the risk of financial losses from an insurance company from damage to the insured property, or from liability for damage or injury caused to a third party.
PAN card or Permanent Account Number is a unique ten-digit alphanumeric number issued by NSDL in India. It is used for various tax purposes while filing as identity proof and serves as valid identity proof for multiple other processes.
Freelancing income refers to an income or money earned by working on specific assignments for a specific term and getting paid for the work upon completion and submission.
Under section 234B of the Income Tax Act, you would be fined in the form of interest if you miss or delay the payment. Similarly, you must pay fines under sections 234A and 234C. Here's a rundown of the three sorts of interest you might have to pay in case of default.
A bond is a financial instrument that is offered as a security to loans offered to an investor that is issued by a government or corporate entity. It bears a fixed repayment with a certain rate of interest the maturity or expiry of the due date to the investor.
Fixed deposits basically mean putting a certain amount of money for a fixed period. You can earn interest on the principal sum throughout the tenure on a cumulative basis. The interest earned gets added to the principal amount after every specific interval.
Mutual funds give access to portfolios of shares, bonds, and other securities to small and individual investors which are managed by professionals.
Before introducing the Real Estate (Regulation and Development) Act (RERA), the real estate sector faced several challenges, such as lack of transparency, financial discipline, skewed transactions favouring the developers, and limited grievance redressal forums for consumers.
Loans and credit cards are used borrow funds and have many of the same standard credit provisions. In both loan and credit card agreements you will typically find funds offered from a lender at a specified interest rate, where the payments will be monthly, quarterly, or annually.
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