GST Changes in India
Goods and Service Tax was a landmark act passed in the Parliament on 29th March 2017 and brought into effect on 1st July 2017. It was brought in order to unify several direct and indirect taxations while bringing in a comprehensive destination-based tax that supports federal tax contributions. In simpler terms, GST brought all the indirect taxes under one umbrella for the entire country. It...
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...
A Look At The New Changes In GST For Homeowners
The Government of India has been introducing (GST) all kinds of new regulations for Income Tax Returns (AY 2019-20), which needs to be filed by 31st July this year. The good news is that most of these reforms have made the filing process more fluid. For instance, if you are the owner of house property which is under construction, good news awaits you! In a move that brought a...