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 …
Under the new tax rules proposed by the government, FPIs (foreign portfolio investors) may be subject to up to 43 percent tax on the dividend earned from listed Indian companies. It will be levied on investors and entities that aren’t taxed in their original country. Currently, a 20 percent flat tax is deducted at the …
The Budget (2020) has brought about changes in tax residency rules for non-resident Indians (NRIs). If you are an NRI, you would need to pay close attention to these changes. Read on to know more about NRI taxation and what it means. Also, before delving into what income tax for NRI or NRI tax means, …
One of the significant changes in the Union Budget 2018 was the introduction of tax on long term capital gains (LTCG) at the rate of 10% above the profit level of Rs.1 lakh per year. For example, if your long term capital gains for the year 2018-19 are Rs.145,000/- then your LTCG up to Rs.100,000 …
From a policymaker’s perspective, there were a fair amount of negative expectations built around the Union Budget. More so, from a capital market perspective! Interestingly, the budget refrained from most of these negative expectations which was well received by the market. Normally, budgets are not just evaluated in isolation but with reference to the expectations …
