Which mutual funds help you save tax? An equity-linked savings scheme allows a Hindu Undivided Family or individual a deduction from the total income of up to ₹1.5 lakhs under Section 80C of the Income Tax Act. Thus, if an investor were to put in ₹50,000 into an ELSS scheme, this amount would be deducted …
In an increasingly digital world, online transactions have now become an everyday affair. Online shopping has picked up across India and people are now used to paying via their digital wallet apps. Access to Unified Payments Interface (UPI) helps in the smooth transfer of funds between two bank accounts. However, what does online shopping and …
Declaring your income and filing taxes on the same are one of the most important duties for a citizen. However, instead of doing it on your own, it’s best to have a professional examine your income and the taxes you are liable to pay since they would be much better placed to inform you as …
A tax consultant is an advisor who helps individuals and organisations to pay their taxes. As they are qualified professionals and experts in their field, they will help you with planning your taxes, ensure compliance and provide you insights into the various taxation laws. Here are some benefits from hiring a tax consultant: A tax consultantwill …
Have you kept track of your income and how exactly you can optimise your earnings by investing in tax-saving instruments? Tax planning is a key element of your personal finance and spending an hour learning all about it can indeed help you save taxes, almost a month’s worth of it. If you don’t make use …
Individual taxpayers now have time till December 31, 2020, to file ITR for FY19-20. Taxpayers, who need their accounts audited got an extension till January 31, 2021. The Central Board Of Direct Taxes (CBDT) issued a press release regarding the updated tax filing deadline. Earlier, the last date to file taxes was November 30, 2020. …
Indian investors can invest in the US stock market. For Indian investors, proactively looking for overseas stock market investment opportunities to diversify a portfolio, tax implications remain a major concern. But the number of Indian investors is growing in the US stock market, and hence, we feel that it needs a detailed discussion on the …
Calling it an endeavour to Honour the Honest – Transparent Taxation is a platform which aims at simplifying direct tax norms to help bring transparency to the system and reduce taxpayers’ woes. In a virtual event, PM Narendra Modi will inaugurate the platform on August 12. Several chambers of commerce members, trade associations, chartered accountant associations, …
Sovereign gold bonds, issued by the Indian government, are a unique way to take exposure in gold as an asset class. The Indian government introduced gold bonds in 2015 to curb the demand for imported gold in the country. India’s love for gold is well known. An estimation suggests that Indian households hold over 1 …
Error while filing your tax return can result in either overpayment or underpayment. Whichever is the case, neither of these situations is desirable. If your overall tax return claim exceeds the total amount of tax paid by you, it can invite scrutiny from the IT department. Not a very welcoming situation, right? You can now …
