The cost of inflation index (CII) for the financial year 2019-20 has been notified by the Ministry of Finance. The ministry has set the Cost Inflation Index FY 2019-20 as 289. For the previous FY 2018-19, CII was 280. The rate of inflation for indexation purposes have been specified by the Indian Government for every […]
Tax Planning
How Youtubers and Bloggers Income Taxable in India?
In the recent years, Bloggers and Youtubers are the new full time profession in India. These bloggers and Youtubers are earning in lakhs per month but they may not have a clear idea about the taxation system in India which is imposed on their income & services. So in this guide, let’s talk about the […]
Health Insurance Tax Deduction FY 2019-20 / AY 2020-21 | Income Tax Benefits u/s 80D
Health Insurance (or) Mediclaim insurance is a must-have for all. Considering the rate at which medical costs are rising, it is very important to have sufficient medical insurance coverage. The medical inflation in India is increasing at a significant rate, almost 12% to 15% year on year. Therefore, it is critical to have an adequate […]
How to e-Verify ITR without login to your Income Tax e-Filing Account?
The Income tax department has recently launched a new ‘e-Verify Return’ facility for e-Verification of ITR without login to your e-Filing account. In 2015, the CBDT had come up with e-verification of of ITR through usage of EVC (electronic verification code). Earlier to this, a tax assessee who does not have digital signature had to […]
Latest NPS Income Tax Benefits 2019-20 | Tax Saving through NPS Investment
Besides EPF and PPF, another popular retirement oriented scheme which is gaining popularity among the salaried/self-employed is NPS Scheme. The asset under management (AUM) under NPS stood at around Rs 2.3 lakh crore in 2018. It is estimated that the Government employees contribute about 87% of the Rs. 2.3 lakh crore ($35 billion) overseen by the NPS (National Pension System), […]
How NRIs can save on Tax in India? | NRI Tax Saving options
Income tax in India for NRIs (Non-Resident Indian) is moderately different when compared to the residents. Everyone is aware of the basic rule that NRIs who are earning income in India are subjected to tax payments. The source of income can be anything be it from rent, fixed deposits, savings accounts, investments, etc. an NRI […]