How to avoid paying taxes on interest income

Do you wonder why interest earned from your FDs or interest bearing securities like bonds gets reduced due to tax deducted at source? Does it irritate you that tax has been charged even though you aren’t eligible to pay taxes?

Here, we tell you about why TDS applied and ways to avoid this tax deduction if you meet certain criteria.

Why should I know this?

If you are like most Indians, chances are the bulk of your liquid savings are in a bank account or in an FD. Some of us are invested in bonds. While these fixed income instruments are good for guaranteed returns, they are relatively tax inefficient instruments because you end up paying taxes on the interest income that you earn.

This tax is usually deducted at source, and there might be a situation where tax is being deducted even though you are not eligible for paying taxes. This could result in a cash flow problem because your tax outflow is today, but your refund might take many months to arrive.
How much is the TDS on interest from deposits and securities?

Love, Sex and Adultery in Ancient Egypt

Women had more freedom than their counter parts in Mesopotamia, for instance, but never as much as Paris Hilton and pals. Egyptians married young, very young indeed, and, in royal families, between themselves. Childbirth was dangerous but encouraged in ancient Egypt - prosperity was a goal for everyone and that included having a big family. The love and sex lives of the Egyptians were as complicated as they are today. Turin's famous Erotic Papyrus assures us that the Egyptians were sexually adventurous, with a penchant for naked belly-dancing, and collections of love poetry from the Amarna era reveal that they were also big romantics. According to Angelina Jolie in recent news “fidelity is not essential in her relationship with Brad Pitt”, but adultery is one of the oldest reasons for divorce, death and depression - the 3 D’s - and in ancient Egypt as in most of the modern world, women often still file for divorce on the grounds of adulte...

Travel Geneva

Geneva is a world city, a city characterised by its cosmopolitan population. People come here for many reasons, from humanitarian commitments, attending trade fairs and festivals to diplomatic and cultural activities. Geneva can be considered as the world's smallest metropolis and the headquarters of some of the most prestigious organizations in the world such as The Red Cross and European HQ of the United Nations. The town is situated in the laps of nature. A stroll within the city limits, along the shores of the lake with its famous water jet or up into the Old Town are sure to stay in your memories for a long time. Geneva has a very vibrant and multi-cultural night life. As and when the enjoyment reaches its peak, you are sure to feel that you are in France. Why Visit Geneva? European United Nations and Red Cross HQ Famous water jet in the lake 2000 years old Cultural and historical centre Trade Fairs and Festivals. Renowned for Cuisine and Wine. Lugano Tourism ...

Pre-disbursal home loan terms

There are many technical terms you will come across when applying for a home loan. For instance, words like credit appraisal, underwriting, and loan-to-value are common terms used by lenders before disbursal of loans. Here we describe these terms. 1. Credit appraisal: This is the process which determines the credit worthiness of a borrower. It is a part of the verification process wherein officers from the loan provider verify details like your employer, your income, number of dependents, your loan history and review documents such as your your bank statements and salary slips. Every lender has its own appraisal officers for this purpose. In order that you get a clean chit at the end of this process, its best if you have a maintained a clean credit history on any existing loans and borrowings. 2. Underwriting: Like credit appraisal, underwriting too forms a part of the verification process and also involves an assessment of the loan eligibility...

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