Decoding Budget 2021
The most feared and most awaited event of the year; The Budget. Every person, every industry waited patiently for the announcement from our respected Finance Minister Nirmala Sitharaman. With COVID-19 pandemic on the backdrop, India was waiting for a “get well soon”. Let’s see what the Budget 2021 brought forward for us – Decoding Budget 2021: 1. No changes in personal...
Daily Market Analysis – 5th Feb 2021
Will tax on PF interest also cover contribution to PPF account? Budget 2021 has proposed to levy income tax on interest earned by an employee/person on his/her contribution in excess of Rs 2.5 lakh in a financial year to a provident fund. It appears that tax will apply to the interest earned on contributions made to Employees’ Provident Fund (EPF), Voluntary Provident Fund (VPF) as...
Daily Market Analysis – 2nd Feb 2021
Budget 2021 May Dent Retirement Savings as PF Interest Above a Certain Limit to Get Taxable The budget has plugged a major tax leak by placing a cap on the Provident Fund contribution that will earn tax-free income. A lot of people contribute huge sums to the Provident Fund every month to gain tax-free interest. Now that has been capped at Rs 2.5 lakh a year. Interest earned on Provident...
Unheard Facts of Budget 2021
Some of the facts which you don’t know about Budget 21. Here is the list 1. ULIP maturity is TAXABLE. Budget 2021 has proposed not to provide tax exemption under section 10(10D) of Income Tax Act for maturity proceeds of the unit-linked insurance policies (Ulips) with annual premium above ₹2.5 lakh. The rules will apply for Ulips issued on or after 1 February 2021. According to...
