TAX EXEMPT GRATUITY LIMIT
Using only 80C for tax saving? New tax regime may be beneficial for you at this incomeFrom FY 2020-21, an individual can continue with the old tax regime and avail common deductions such as section 80C, section 80D etc. of th...
- How to save tax without fresh investments
Here is a look at expenses/deductions which can be used to reduce tax payable under the old tax regime.
- A quick guide on how to save tax in a financial year
For FY 2020-21, if you have opted for the old tax regime, then there are various ways to save tax. Here is a quick look at how you can save...
- Reconsider decision to impose property tax: JCCI to government
The Jammu and Kashmir (J&K) administration last week issued a notification imposing property tax through urban local bodies in their respec...
- PPF stays out of tax on EPF interest
“The cap is not applicable on PPF because there is already a limit of ₹1.5 lakh contribution in a year to PPF,” the official said. The gove...
- No changes in income tax slabs, rates, deductions, exemptions in Budget 2021
With no change in the basic exemption limit, income tax slabs and rates, an individual tax payer will continue to pay the tax at the same r...
- Will 10% LTCG tax on ULIPs be positive for equity mutual funds?
In today’s budget, Nirmala Sitharaman proposed that, “the nonexempt ULIP shall be provided same concessional capital gains taxation regime ...
- FM announces removal of 400 old exemptions, measures to reduce anomalies in GST
She also said that the definition of small companies will be revised by raising the capital base to Rs 2 crore from the current limit of Rs...
- Budget gives startups a long rope, extends tax holiday, exemptions limits
As of the last week of December, there were 41,061 govt-recognised startups in India. Of this, over 39,000 startups account for 4,70,000 jo...
- Rs 5 lakh exemption limit, Rs 2.5 lakh 80C rebate? What the Budget may offer
The Economic Survey seemed to indicate that the government can raise its fiscal deficit target for next financial year by a few notches to ...
- What the common man can expect from Budget 2021
While various economic packages and reforms announced by the government in 2020 have no doubt kept the economy afloat, Budget 2021 is also ...
- Budget wishlist from insurers: Extra tax rebate and tax-free annuities
A move in the right direction would be to make annuities tax-free. Doing so would bring about parity between this segment and the NPS, whic...
- Budget 2021 needs to hike gratuity exemption limit, tax benefits on EPF, NPS due to new labour laws
Under the new labour laws, the definition of wages is standardised. This will impact on how gratuity and EPF will be calculated and lead to...
- Middle class set to gain from higher tax deductions likely in Budget 2021
Sources said that the Budget 2020-21 may take the sops announced earlier under the Atmanirbhar Bharat package to help people in their fight...
- CREDAI seeks tax sops in upcoming Budget to boost housing demand
"Real estate sector has been under stress for more than 2 years. Economic uncertainty enforced by COVID-19 pandemic has only made it worse ...
- Brokers’ body bats for higher limits on LTCG, dividends
India’s stock brokers have sought higher rebate ceilings for long-term capital gains taxes (LTCG) and an exemption of individual dividend t...
- India Inc seeks reintroduction of single I-T structure
Complex processIndustry said that current structure had made compliance on withholding tax a complex process for employers, leading to high...
- RIL’s profits from SEZ not taxable, company can claim deductions: ITAT
The ITAT was ruling in the case of Reliance Industries Limited (RIL) and the issue of taxability of company’s profits from SEZ. As per the ...
- Missed ITR filing? You might pay penalty even if income is below exemption limit
The government via Finance Act 2019 has amended the Income-tax Act whereby it has made it mandatory for certain categories of individuals t...
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