Capital asset typically refers to anything that you own for personal or investment purposes. It includes all kinds of property; movable or immovable, tangible or intangible, fixed or circulating. Capital assets are further classified as Financial Assets and Non-Financial Assets. Financial assets are intangible and represent the monetary value of a physical item. Stocks (Shares) […]
Tax Planning
Income Tax Deductions List FY 2019-20 | List of important Income Tax Exemptions for AY 2020-21
Interim-Budget 2019-20 & the Finance Bill 2019 have been tabled in Parliament. The Income Tax Slab rates have been kept unchanged by the Finance Minister for the Financial Year 2019-20 (Assessment Year 2020-2021). Tax planning is an important part of a financial plan. Whether you are a salaried individual, a professional or a businessman, you can […]
Income Tax Slab Rates for FY 2019-20 / AY 2020-21 | Budget 2019-20 Key Highlights
The Indian Finance Minister has tabled today, the Union General Budget 2019-20 in the Parliament. Below are the latest Income Tax Slab Rates for FY 2019-20 or AY 2020-21. (FY is Financial Year and AY is Assessment Year) Latest Income Tax Slab Rates FY 2019-20 The income tax slabs & rates are categorized as below; Individual resident aged below 60 years. Senior […]
Tax Implications of EPF, PPF & NPS Withdrawals (Full / Partial) & Maturity proceeds
The Provident Fund Schemes like EPF (Employees Provident Fund) and PPF (Public Provident Fund) are very popular long-term savings products in India. EPFO has annual accruals of over Rs 1.2 trillion and has total assets under management worth Rs 11 trillion. The total outstanding deposits under PPF scheme during 2016-17 were around Rs 4,689 billion. […]
All you want to know about Income Tax Refunds | How to check Income Tax Refund Status online?
“Refund” !! We bet as soon as each one of us hears this word it generates excitement and feeling of contentment among us. Further, when it is “Income Tax refund” then it’s like icing on the cake. But have you ever wondered how this refund happens? Well, it arises only when you have already paid […]
Can you take a Home Loan and also Claim LTCG Tax Exemption on Sale of Real-Estate Property?
Home ownership in India has always been a big dream. To realize this long-cherished dream, a home buyer may either acquire the property through a home loan (or) invest huge sums of money in the property, in most of the cases this can be his/her life-long savings. Considering the easy availability of credit, rapid economic growth and high […]