10 things every salaried Taxpayer should know
Tax filing is important if you are an earning individual and are earning more than Rs.2.5 lakhs in a financial year. With the Government’s increased measures on curbing tax evasion, it has become necessary to file your taxes correctly. If you are a salaried employee, it becomes all the more important to be careful with your tax filing. In fact, the Income Tax Department has issued a warning...
Know the Impact of Budget 2018 on your Taxes
With every Union Budget, the average tax-payer looks at different amendments in the income tax slab rates or other exemptions and deductions. This year’s budget was no different. Though there was no change in the income tax slab rate (which happened in the last budget), there were various proposals which impact your taxes. Do you know about the revised tax impact of the Union Budget 2018?...
LTCG Tax on Equity Investments from 1st April, 2018.
According to the provisions of the latest Union Budget, 2018, a long term capital gains tax would be imposed on long term capital gains incurred from selling equity shares or equity-related investments. This provision has got investors worried about their equity investments. They are in doubt whether to hold onto their investments or to sell them off before 31st March 2018 and book their...
The New GST Amendments as per the 23rd Council Meet
All eyes were in Guwahati as the GST Council convened its 23rd meet in the city on 9th and 10th November 2017. As expected, a lot of positive changes had been brought about in the existing GST rules, much to the delight of consumers and businessmen alike. Rate cuts have been made in various goods and services and even businessmen have been given relief in filing their...
Effects Of GST On Your Current Mutual Funds Investment
Goods and Services Tax or GST which has already been nomenclature as India’s biggest tax is going to be a reality from 1st July 2017. In such winds of change, mutual fund investors are extremely worried about the impact of this new tax regime on their investments. In today’s article, we will focus on areas in which GST will have an impact on the Mutual fund investments of investors....
How Health Insurance Becomes Tax Saving Tool?
There is no denying the fact that the need for health insurance within the insurance portfolio is an absolute must. The truth is that there have been rising concerns among people with regards to increasing health care costs and growing medical conditions. It has become mandatory for every individual to buy medical insurance. It is a comprehensive and well selected medical insurance that can...
Top 3 Noteworthy Tips to Help You Stay Away From Income Tax Notice
Had you ever faced any of the unwanted experience for not filing your Income Tax Returns? Here unwanted experience means receiving Income Tax Notices or an Income Tax raid at your house. Do you know why this happens? It’s because you lose the transparency between your income and tax paid while making yourself the victim of the IT department. This makes things more difficult when you...
All You Need To Know About DTAA (Double Tax Avoidance Agreement)
A DTAA is a tax settlement signed between two or more countries. Its chief objective is that the tax payers in these countries could avoid being taxed twice on the same earnings. A DTAA is applicable in situations where a tax payer lives in one country and earns the salary in another. DTAAs can either be extensive to obscure all sources of income or be bounded to specific areas such as taxing...
Know All About Deduction Under Section 80C
If you are an employee or a taxpayer professional or businessman you may have heard already about deduction under Section 80C under the Income Tax Act. But still, by investing where you can be eligible for this tax deduction, up to what extent of investment it is applicable, who can invest in what type of tax saving instruments and the varying time period of these investments, people should...