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Tax deduction at source. Tax deduction at source (TDS) is an Indian withholding tax that is a means of collecting tax on income, dividends, or asset sales by requiring the payer (or legal intermediary) to deduct tax due before paying the balance to the payee (and the tax to the revenue authority). Under the Indian Income Tax Act of 1961, income ...
Tax Deduction and Collection Account Number. In India, a Tax Deduction and Collection Account Number ( TAN) is a 10 digit alpha-numeric number issued by the Income Tax Department to the persons who are required to deduct or collect tax on payments made by them under the Indian Income Tax Act, 1961. [1]
Recurring deposit. A recurring deposit is a special kind of term deposit offered by Indian banks and Post Office [1] which helps people with regular incomes to deposit a fixed amount every month into their recurring deposit account and earn interest at the rate applicable to fixed deposits. [2] It is similar to making fixed deposits of a ...
Here are some of the best ways to minimize taxes on mutual fund investments: Hold shares in tax-advantaged accounts: One of the easiest ways to avoid taxes on mutual fund investments is to hold ...
If you have a brokerage account, you’ll likely need to have at least three documents, though it does depend on the specific type of investments you have. Most investors will need to look for ...
An actively managed mutual fund has a fund manager who buys and sells investments within the fund with the goal of outperforming the market relative to a benchmark, such as the S&P 500.
Fixed deposit. A fixed deposit ( FD) is a tenured deposit account provided by banks or non-bank financial institutions which provides investors a higher rate of interest than a regular savings account, until the given maturity date. It may or may not require the creation of a separate account. The term fixed deposit is most commonly used in ...
Here are four common myths about mutual funds that you should know. 1. Mutual Funds Are Diversified. While they are certainly more diversified than individual stocks, dumping all your assets into ...