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Top 3 Mistakes a New Tax-Payer Often Makes!




Taxes are one of those universal realities that no one loves but must accept. You usually end up paying taxes both directly and indirectly. While you may not have much control over indirect taxes since they are dependent on your spending, you may utilize ULIP tax benefits to reduce direct taxes.

An income tax refund enables you to legitimately lower your direct tax burden without concealing your income. The vast majority of tax breaks are offered for transactions that are either too crucial to overlook in life or for long-term investments.

So, the money you spend to claim an income tax refund generally stays in your pocket, and you save tax as a result.

What Is Income Tax Rebate?

A tax rebate is a reimbursement that you are entitled to if your tax payments surpass your tax due. For instance, if your tax due is Rs. 20,000, but your bank pays the Government a TDS of Rs. 30,000 on your behalf, you are entitled to a tax refund.

In other words, you will get a tax refund at the end of each fiscal year if your tax burden is less than the amount you paid. If you wish to collect the income tax refund, you must submit an Income Tax Rebate within a certain time frame.

Fortunately, the Indian Income Tax Act provides several possibilities for you to preserve a significant portion of your income from taxation. You can utilize the act’s many tax breaks to decrease your yearly direct tax burden.

What Mistakes Do a New Tax-payer often Make?

Filing income tax returns (ITRs) is a complicated process. Most of the time, we commit a few errors unwittingly. We’ve developed a list of five frequent blunders that taxpayers make. Avoid making these blunders to avoid getting a notification from the Income Tax Department.

1. Wrong income tax return form selection

Income tax return (ITR) filing forms ranging from ITR-1 to ITR-7 are available for use by various income tax assesses. The form you need is determined by your income, source of income, asset ownership, and other factors. Filing a tax return on the incorrect ITR form might be considered ‘defective.’ Taxpayers must submit an updated ITR using the proper form.

2. Not reporting interest income

Many people fail to disclose the interest income they get from fixed deposits or other fixed assets. This information must be included in the ‘Income from Other Sources’ column.

3. Not filing an income tax return (ITR)

Those with income below the taxable threshold frequently do not file ITR. However, this is a definite no. This is not a mistake but rather pure negligence. Avoid being lazy by simply filing your income tax returns, even if your income is less than the taxable amount.

How to Save Tax with ULIPs?

Any investment in life needs careful consideration since it includes your hard-earned money. Most individuals organize their money in order to better manage their ordinary living costs and fulfill future requirements. When acquiring a Unit linked insurance plan, it is important to determine the necessary life insurance to meet personal goals.

While Unit linked insurance plan investments are beneficial, they might have an effect on your income. The Government of India has made some ULIP tax benefits accessible to policyholders. When you invest in a qualifying plan, you are entitled to ULIP tax benefits.

This stems from the stipulation that “any money paid to retain a life insurance policy in effect may well be claimed as a deduction.” The ULIP tax advantage may also include any additional components paid to the insurer, such as service tax, etc.

To have a better understanding of ULIP taxes, let’s go over several key issues.

  • Section 80C (life insurance premiums are tax-deductible) and Section 80CCC are the two important clauses of the Indian Income Tax Act that apply to ULIP tax benefits (the amount paid towards pension plans is tax-exempt).
  • According to these regulations, ULIP tax benefits of up to Rs. 1,50,000 is permitted in a fiscal year under sections 80C and 80CCC. This implies that, although you may invest more, the overall ULIP tax exemption is restricted to Rs. 1,50,000* each year.
  • Remember that the annual premium should be less than 10% of the total guaranteed. As a result, if the total insured is Rs. 15 lacs and the yearly premium is less than Rs. 1.5 lacs, the full amount may be utilized to claim the ULIP tax advantage.
  • If the yearly premium is greater, say Rs. 3 lacs for the same amount insured of Rs. 15 lacs, the possible ULIP tax benefits remain Rs. 1.5 lacs – i.e. 10% of Rs. 15 lacs.
  • To obtain the ULIP tax benefits, the plan must be active for at least five years. If you cease paying premiums for the plan during the fifth year, you will lose the ULIP tax advantages you received during the first four years.
  • To profit from ULIP taxes, ensure that you have a long-term investment perspective and continue to pay the premiums for the whole payment period.

Notably, the ULIP’s taxability is subject to changes in tax legislation made by the government. The ULIP tax advantage is subject to the restrictions in effect at the time of premium payment.

Are you looking for a way to save on your taxes? Look no further than the Canara HSBC Life Insurance – Invest 4G plan. With this plan, you can invest in a Unit linked insurance plan and enjoy tax benefits that will help you save on your taxes.

Unit linked insurance plans are unique insurance products that offer you a combination of insurance and investment products. With Invest 4G plan, you can invest in a Unit linked insurance plan that offers a guaranteed rate of return and tax benefits. This plan will allow you to save on your taxes by investing in a stable and secure product.

Not only will you enjoy a guaranteed rate of return, but you will also be able to benefit from tax benefits that will help you save on your taxes. With the Invest 4G plan, you can enjoy a tax deduction for your contributions to the plan. You can also take advantage of the tax-free status of your investments.

Wrapping It Up

It is recommended that all Indian citizens pay their income taxes on time. Failure to do so would result in a variety of penalties, including heavy fines and imprisonment under the IT Act.

Furthermore, for individuals looking to purchase a tax-saving plan online, or wish to invest in a Unit linked insurance plan Canara HSBC Life Insurance is a good alternative.


Efficiency and Sustainability: How Steel Sections Promote Green Construction Practices





Today, sustainability is one of the greatest concerns across a number of industries, and construction is no exception. In fact, the construction industry is a huge player in the environmental game, meaning it needs to evolve to become more eco-friendly.

In a mission to bolster energy efficiency, conserve resources, and reduce carbon emissions, a number of “green” practices are being employed in the construction sector. One of these practices is the use of steel sections, which have established themselves as key drivers of efficiency and sustainability in construction processes.

To that end, detailed below are just some of the ways in which steel sections promote green construction practices.

Steel: A Construction Staple

First and foremost, it can’t be denied that steel has been a construction staple for a number of decades. This is down to the durability and strength of steel in addition to advancing technology, which places steel as a sustainable choice for architects and builders alike. For instance, steel is highly recyclable, which is one of the main reasons for its green credentials. In fact, steel is the most widely recycled metal on a global scale, with an average recycled content of as much as 90%. As a result, builders are able to incorporate recycled steel into their projects, meaning the demand for virgin steel can be greatly reduced. From this, energy can be conserved, and greenhouse gas emissions can be minimized.

The Versatility of Steel

One thing that sets steel apart from all manner of metals is its sheer versatility. This versatility allows for efficient design and construction processes, as wastage is significantly reduced. Steel sections can be effortlessly integrated into a number of building systems due to their modular nature. As a result, faster construction can take place, which minimizes the length of time the project takes to complete. This means that costs and time are reduced; however, the environmental impact of extensive construction work is also significantly reduced. This includes transportation emissions and noise pollution.

How Steel Sections Promote Green Construction Practices

The Efficiency of Steel

Steel allows for efficient structural designs thanks to its exceptional strength-to-weight ratios. Essentially, the use of steel sections means that the need for excessive support foundations is removed, meaning that larger structures can be created by way of fewer materials. Moreover, by reducing material consumption, spaces can be adapted more easily to accommodate changing needs.

The Durability of Steel

Being resistant to a number of factors, including pests, weathering, and corrosion, steel is one of the most durable materials that can be used. As a result, maintenance and repair won’t need to be carried out consistently, minimizing both life-cycle costs and the environmental impact. For instance, maintenance activities can lead to harsh chemicals being used, as well as the disposal of waste materials. Therefore, minimizing the need for these maintenance practices can only be a positive thing.

Energy Efficient Practices

Steel is capable of transferring cold and heat alike because of the elevated thermal conductivity of the material. As a result, energy-efficient building designs can be completed with an added focus on air conditioning, ventilation, and heating systems. In fact, these systems can be integrated into the building from the construction stages by way of steel usage. This added layer of insulation and ventilation will minimize the energy consumption of the space, which will, in turn, reduce the carbon footprint. This is on top of the reflective qualities of steel, which will reduce heat gain and minimize cooling requirements.

When it comes to maximizing sustainability and efficiency, steel sections are undeniably the way forward. Steel is the future of construction.

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Five Must-Try Carbide Router Bit Projects





Any fan of woodworking knows just how valuable carbide router bits are to any workshop. This is because they facilitate detail and precision that simply can’t be achieved with other tools.

Whether you’re a woodworking expert or a DIY novice, detailed below are just some of the best projects using carbide router bits to undertake.

Crafting Dovetail Joints

First up is the crafting of dovetail joints, which are simultaneously sturdy and aesthetically pleasing methods of joining wooden components together. Therefore, dovetail joints are often employed in woodworking projects like cabinetry and furniture-making. This is because endurance and integrity are required of these pieces. As previously mentioned, though, carbide router bits allow for precision like no other tool, meaning the carving of dovetails can be achieved with greater accuracy.   What’s more, there are a number of dovetail shapes available, meaning various aesthetically pleasing and functional joints can be created.

Cutting Textures

If you feel that your project is lacking some depth, the cutting of textures can add another layer of interest to your pieces. In fact, the right carbide router bits allow for the creation of stunning textures that highlight the natural excellence and grain of the wood. From picture frames to tabletops, texturing can be employed in all manner of projects to achieve something beautiful. Carbide router bits allow you to experiment with a number of different patterns and textures so you can find a style that works for the project you’re working with.

Making Inlays

When it comes to incorporating decorative elements into your woodwork, inlays can be incredibly effective. Whether it be a chopping board, box, or table, inlays successfully add complexity and visual interest. Moreover, the use of carbide router bits means these inlays can be made with complete accuracy and precision. Similarly, the number of patterns and shapes available means that eye-catching designs can be created.

Must Try Carbide Router Bit Projects

Creating Raised Panels

Woodworking projects such as cabinet doors often involve the creation of raised panels. This is mainly due to the fact that they incorporate a bit of interest and depth into a piece, and they’re even customizable. In the absence of carbide router bits, the creation of raised panels can lack precision and accuracy. With carbide router bits, though, elegance, detail, and intricacy can be achieved.

Carving Decorative Edges

Last but certainly not least, the use of carbide router bits allows you to carve decorative edges on wooden boards. In fact, the multiple different shapes mean unique edges can be created that result in personality and flair. Cabinets, tables, and picture frames are just some of the pieces that can benefit from the carving of decorative edges. The most important advantage is that unique decorative edges are sure to make your work stand out from the crowd. Some popular shapes include roundover, cove, and ogee, but there are so many different shapes on the market. Your project will determine which shape is most suitable for you.


Detailed above are just five of the many projects that can be completed with the help of carbide router bits. Just make sure that you select the right bits, as these will affect how the bit performs. As well as making the right decisions about your bits, you also need to ensure that you carry out all the necessary safety procedures. This includes the wearing of protective goggles and ear defenders, and you should also always ensure your hands are kept from harm’s way.

All in all, carbide router bits achieve versatility and precision, unlike any other tool, making them the ideal addition to any workshop.

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How to Get Started with Online Trading in the Share Market as a Beginner?





Beginners in online share market trading may feel overwhelmed and unclear about where to start. With a lot of information out there, it can sometimes become hard to know what to trust and what to not. However, don’t worry – with guidance, you can start trading with confidence

This article covers online trading essentials, including choosing a broker, understanding orders, and risk management. By the end of this article, you’ll be ready for online trading in share market.

Step-by-Step Guide for Online Trading in the Share Market

If you want to start online trading in the share market as a beginner, here are some steps that will help you.

1. Learn the Basics

Before you begin trading on the stock market, it is crucial to educate yourself on its fundamentals. Researching and understanding various trading options such as different types of stocks, their prices, volatility, their reaction in times of bullish and bearish markets, etc.

To make smart choices, you need to know the basics, the different kinds of stocks, and how to analyze stocks. You can gain knowledge and establish a solid foundation by reading books, attending webinars or workshops, and enrolling in online courses.

Self-education will help you in developing a trading strategy and minimize the risk of financial loss. It will also empower you to make well-informed decisions and adapt to market changes.

2. Choose a Broker

Selecting a reliable broker is vital if you are a novice trader engaging in online trading. It is important to open a trading account with a broker that offers a user-friendly platform, minimal expenses, and outstanding customer support.

Furthermore, the chosen broker should grant you access to different asset classes such as stocks, ETFs, derivatives, etc, provide valuable analysis tools, and ensure seamless transaction facilitation.

By thoroughly researching various options and comparing their features, you can identify the ideal broker that aligns with your trading requirements. You can also select a share market trading platform like Dhan to get started with online trading.

3. Start Small

Starting small is a crucial step when it comes to online trading in the share market. This means beginning with a relatively small amount of money and trading it in a few selected stocks.

By starting small, you can learn the ropes of trading without putting too much capital at risk. This allows you to experiment with different trading strategies, learn from your mistakes, and build up your confidence and knowledge over time.

Starting small also helps to limit your losses in case your trades don’t go as planned. As you become more experienced and successful, you can gradually increase your amount and take on more risk.

4. Practice with a Demo Account

Before you start trading for real, you should get used to the online trading app and learn how the stock market works. One way to do this is to use a demo account to try things out.

A demo account allows users to trade with virtual money and test out the features and functions of the online trading platform. It gives users the opportunity to learn how to execute trades, analyze market trends, and practice risk management strategies without risking real money.

Before trading with real money, you can learn a lot from a demo account and gain faith in your trading skills. It also lets you try out different ways to trade and see which ones work best for you.

Final Thoughts

Getting started with online trading on the stock market can seem scary at first, but with the right tools and knowledge, it can be a profitable and satisfying experience. If you are just starting out in the world of online trading, Dhan can be a suitable choice for you. It offers easy-to-use interfaces, learning tools, and a wide range of trading choices to give you a fulfilling trading experience.

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