Mastering Form 15G: How Indian students can save their internship stipend from TDS deductions. ⚠️ Disclaimer: Form 15G केवल तà¤ी वैध है जब छात्र की कुल वार्षिक आय करयोग्य सीमा से कम हो। The 10% Heartbreak: Where Did Your First Stipend Go? You worked hard for a month. Your offer letter promised ₹15,000 . You eagerly check your bank account, and you only received ₹13,500 . You just became a victim of TDS (Tax Deducted at Source) . But as a student, do you really have to pay this? Absolutely not. The Truth About Stipend Taxability in India Whether you are doing a high-end corporate gig, running content networks like the Sahityashala Network , or getting paid to write technical analysis for Sahityashala Sports , companies will often treat your internship stipend as a "professional fee." Under Section 194J of the Income Tax Act, companies are mandated to deduct a 10% TDS on professional and technical services. However, if your total ...
Understanding the Basics of Personal Finance for Students As a student , managing your finances can seem overwhelming. However, understanding the fundamentals of personal finance is crucial for building a secure future. Did you know that almost 70% of undergraduates graduate with significant debt? This statistic highlights the importance of financial literacy. In this blog, we'll explore essential financial concepts, from budgeting to investing, to help you navigate your financial journey. Budgeting Fundamentals Why Budgeting Matters? Budgeting is the foundation of personal finance. It involves tracking your income and expenses to ensure you live within your means. For students, budgeting can prevent the accumulation of debt and help save for future goals, such as purchasing a vehicle or traveling. Making a Budget or a Basic Spending Plan: Work out Income: Include all sources of revenue, like seasonal jobs, scholarships, and allowances. List Expenses: Categorize you...