budget 2025 highlights – All you need to know…
Finance Minister Sitaraman announced some significant changes to the tax slab in the new tax regime. In addition, read this article to know the highlights of budget 2025. Key Highlights of Budget 2025 for You… 1) The TDS limit for senior citizens got doubled… The TDs limit on interest income for senior citizens was Rs. 50,000 earlier. Now it is increased to Rs. 1,00,000 in budget 2025. However, that does not mean that the interest income of up to Rs. 1,000,000 is tax-free. 2) Simplified KYC Process… Earlier, individuals faced a lot of problems completing the KYC. Now, FM promised …
nps vatsalya scheme tax benefits – Budget 2025
NPS Vatsalaya Scheme tax benefits in budget 2025. In addition, the NPS vatsalya scheme is designed for minors whose age is below 18 years of age. In addition, this account is managed by the parents/guardians of the minors. Moreover, this scheme is regulated by PFRDA (Pension Regulatory Board of India). Read this article to know complete details about this scheme. NPS VATSALYA SCHEME tax benefits (from 1st April 2025)… The NPS valsalya scheme will also get the same tax benefits as the NPS account. Tax deduction under Section 80ccd(1B). # The parent/guardian can claim up to Rs. 50,000 in tax …
Hiding Tax – Why it is tough now, honest will be rewarded.
are you hiding tax? then this article is right for you to read, and how will the honest be rewarded? I have seen so many people avoiding tax and cheating the income tax department with wrong information. But this will not last for long. Very soon, your insurance premium, school, and hotel bill are coming under the Income-tax Department Scanner. In addition, some other high-value transactions will also be coming under the I.T. scanner. This is really a good move and will benefit the nation and honest taxpayers. and the tax avoiders will be punished. The list of high-value transactions …
Senior Citizen Savings Scheme ( SCSS) – Features and Benefits
Senior Citizen Savings Scheme is a famous savings scheme for old age people whose age is more than 60 years of age. Here, In this article I will explain all the features and benefits of this scheme. Who Can Apply for this Senior Citizen Savings Scheme?… An individual whose age is more than 60 years of age can open this account. In addition, a person who got superannuation or retired under VRS after age 5 and before 60 years of age can enter in this scheme. However, he/she should invest within one month of retirement, and the total investment …
Pradhan Mantri Awas Yojana (PMAY) 2020-2021-Who is eligible?
Pradhan Mantri Awas Yojana has been extended till 31st, March 2021 for the CLSS category. While at the same time for EWS/LIG category this has been extended till 31st, March 2022. Now, Let’s see who is eligible under PMAY Scheme?… Pradhan Mantri Awas Yojana ( PMAY) Schemes are… CLSS MIG – I CLSS MIG – II EWS/LIG ( EWS – economically weaker section, LIG- Low-income group). Eligibility for PMAY for 2020… There are three categories in this scheme. Let’s know in detail about each category. EWS/LIG Scheme Category… You and your family members should not have any pucca house in …
Mutual Fund Taxation – AY Year 2021-2022 ( FY 2020-2021)
Mutual Fund Taxation some changes took place in budget 2020. Here in this article, I will explain taxation for FY 2020-2021, ay 2021-2022. The taxation of mutual funds will depend on 3 factors. 3 Factors that will decide Mutual Fund TAxation are… 1) Resident Status of You i.e Resident or Non-Resident ( NRI)… The tax that you have to pay will be different if you are resident Indian, the tax treatment will be different and if you are an NRI, your tax will be different from Resident Indian. 2) The tax also depends on the types of mutual funds …
Budget 2020 – Important Changes that you should know
Budget 2020, most people looking forward to this event. Prior to this event, most people are dreaming just like every year that Government will increase the 80c limit. In addition, People are also expecting the Government to increase income tax slabs, expecting indexation benefit for equity investment. But the above changes not there in this Budget. Finally, The Government in its budget of 2020 has introduced a new tax regime. However, the old tax regime will remain and taxpayers have the option to select any one tax regime. What is the new income tax regime in the Budget 2020?… A …
DTAA-What are its benefits to Non Resident Indians?
DTAA’s full form is the Double Taxation Avoidance Agreement. Which is useful to non-resident Indians. The taxation for you will be different if you move from India to some other country. Most of the time, an NRI will have income in foreign countries and in India as well. But most countries will charge on the global income. As a result of this, you have to pay tax in both countries. To avoid a double tax burden, DTAA will help you in lowering your tax burden. NRI’s will be having different types of income in India like rental, Interest on Bank …
Pay Zero Tax – On your white money-Here is the way…
Pay zero tax on your white money is the headline for this article. You may be surprised by seeing this headline, and you may be thinking that I am joking. But it is true. You can pay zero tax on your income completely. First, let’s understand the different categories of people who are earning money. There is a four-category type of people who are earning money. Salaried Employees Business People Self Employed Professionals Read this article that How Cost Inflation Index will help you pay less tax. Also, read the article, What are the benefits of filing Income Tax returns? …
CII – What it is? and How to calculate tax with it?
CII full form is the Cost Inflation Index. We can calculate the capital gain tax on real estate, gold, and debt mutual fund with CII. can you guess these numbers 100,105,109? Here, I am not asking you to do any calculations. The above numbers belong to the CII table. In addition, the above numbers belong to the Cost Inflation Index for the financial year 2001-2002, 2002-2003, and 2003-2004 respectively. Moreover, When you sell, these numbers will help you in not paying higher taxes on your real estate, gold, and debt mutual funds, Now, Let’s learn that How we can save …
