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), […]
Tax Planning
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 […]
How to save Tax on Rental Income in India?
Tell me, who does not like to own a property that generates a steady rental income? If you have the option, owning assets that produce income is a better financial strategy than owning assets that generate expenses. Rental Income or income from property is one of the most common sources of income in India after […]
How to adjust Short Term Capital Gains against the Basic Exemption Limit? | Tax Rules & Examples
Capital asset typically refers to anything an individual owns for personal or investment purposes. It includes all kinds of property, movable or immovable, tangible 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) and equity […]
How to save Income Tax by adjusting Long Term Capital Gains against Basic Exemption Limit?
Capital asset typically refers to anything an individual owns for personal or investment purposes. It includes all kinds of property, movable or immovable, tangible 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) and equity […]
Latest NRI Gift Tax Rules 2019-20 | Gifts to NRIs can be Taxable now!
Gifts, who would not like to receive them? Gift is something we all like to receive from our beloved ones. But, a very common and frequent question running in the mind of taxpayers is the tax implications of gifts in India. What is considered as a Gift under Income Tax Act? A gift is Money or […]