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Salaried individuals with a total taxable income of up to Rs 5 lakh do not have to file income tax returns this year. However, in case tax payers in this bracket want to seek an income tax refund, they will have to file their returns.

 
 
Any interest earned beyond Rs 3,500 (in case of individual accounts) and Rs 7,000 (in case of joint accounts) will be taxable from the running fiscal.
The finance ministry has decided to phase out the tax breaks that exporters were getting under the popular duty entitlement passbook (DEPB) scheme from June 30.
 
 
Infrastructure bonds are the latest investment option for saving tax, but these may not be a good choice for all investors.
The Income Tax Department says it aims to disburse refunds of over Rs 1 lakh crore this fiscal, against Rs 73,000 crore given in the previous fiscal.
I am planning to quit my job of 8 years and start a business. Should I withdraw the money from the Employees' Provident Fund account and invest it, asks Shrihari Udupa.
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